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Micro Data on Nominal Rigidity, Inflation Persistence and Optimal Monetary Policy
Kara, Engin - 2010
explain the persistence of inflation. However, both of these theories are inconsistent with the micro data on prices. In this … difference between the GTE and its popular alternatives in terms of inflation persistence, a difference arises when it comes to …
Persistent link: https://www.econbiz.de/10013137714
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The cross-section of output and inflation in a dynamic stochastic general equilibrium model with sticky prices
Döpke, Jörg; Funke, Michael; Holly, Sean; Weber, Sebastian - 2009
output and inflation across a population of firms is studied. The only form of heterogeneity is confined to the probability … of output and inflation depend crucially on the proportion of firms that are allowed to change their prices. We test this …-cyclical correlation between the skewness of inflation and aggregates, but the relation with output is less sure. Our results can be …
Persistent link: https://www.econbiz.de/10003844356
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Predicting Real GDP Per Capita in France, Germany, New Zealand, and the UK
Kitov, Ivan - 2009
The growth rate of real GDP per capita is modelled and predicted at various time horizons for France, Germany, New Zealand, and the United Kingdom. The rate of growth is represented by a sum of two components - a monotonically decreasing trend and fluctuations related to the change in...
Persistent link: https://www.econbiz.de/10013159323
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Selection effects in producer-price setting
Carlsson, Mikael - 2014
We use micro data on product prices linked to information on the firms that set them to test for selection effects (state dependence) in micro-level producer pricing. In contrast to using synthetic data from a canonical Menu-Cost model, we find very weak, if any, micro-level selection effects...
Persistent link: https://www.econbiz.de/10010437793
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Selection effects in producer-price setting
Carlsson, Mikael - 2014
We use micro data on product prices linked to information on the firms that set them to test for selection effects (state dependence) in micro-level producer pricing. In contrast to using synthetic data from a canonical menu-cost model, we find very weak, if any, micro-level selection effects...
Persistent link: https://www.econbiz.de/10010399801
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What Drives the German Current Account? And How Does It Affect Other EU Member States?
Kollmann, Robert - 2014
We estimate a three-country model using 1995-2013 data for Germany, the Rest of the Euro Area (REA) and the Rest of the World (ROW) to analyze the determinants of Germany's current account surplus after the launch of the Euro. The most important factors driving the German surplus were positive...
Persistent link: https://www.econbiz.de/10013054630
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Solving RE models with discontinuous policy rules : an application to minimum wage setting in Germany
Bursian, Dirk - 2016
The legal regulations require the minimum wage in Germany to be adjusted biennially which gives rise to a policy discontinuity. From the perspective of rational expectations models, such policy features render standard local approximation techniques infeasible. The paper presents a stylised...
Persistent link: https://www.econbiz.de/10011538716
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Market Power and Fiscal Policy in OECD Countries
Afonso, António - 2013
We compute average markups as a measure of market power throughout time and study their interaction with fiscal policy and macroeconomic variables in a VAR framework. From impulse-response functions, the results, with annual data for a set of 14 OECD countries, show that the markup (i) depicts a...
Persistent link: https://www.econbiz.de/10013079040
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Market Power and Fiscal Policy in OECD Countries
Afonso, António - 2010
We compute average mark-ups as a measure of market power throughout time and study their interaction with fiscal policy and macroeconomic variables in a VAR framework. From impulse-response functions the results, with annual data for a set of 14 OECD countries covering the period 1970-2007, show...
Persistent link: https://www.econbiz.de/10013145150
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Sources of post-pandemic inflation in Germany and the euro area : an application of Bernanke and Blanchard (2023)
Menz, Jan-Oliver - 2024
sharp rise in inflation. Applied to Germany and the euro area, the model suggests that the surge in inflation has mainly … been caused by commodity price shocks and supply bottlenecks, rather than shortages in the labour market. Inflation … future inflation rates. However, this prediction is based on the assumption that there will be no commodity price shocks and …
Persistent link: https://www.econbiz.de/10014519212