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Interest rate pass-through in Germany and the euro area
Borstel, Julia von - 2008
This paper analyzes the interest rate pass-through for Germany and the euro area using for the first time a fully harmonized data set on bank retail rates. In a vector error correction model, the speed and completeness of the pass-through from market rates to bank interest rates are estimated...
Persistent link: https://www.econbiz.de/10010206376
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Monetary policy effects on bank loans in Germany : a panel-econometric analysis
Worms, Andreas - 2001
A crucial condition for the existence of a credit channel through bank loans is that monetary policy should be able to change bank loan supply. This paper contributes to the discussion on this issue by presenting empirical evidence from dynamic panel estimations based on a dataset that comprises...
Persistent link: https://www.econbiz.de/10011419446
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A Vectorautoregressive Investment Model (VIM) and monetary policy transmission : panel evidence from German firms
Breitung, Jörg; Chirinko, Robert S.; Kalckreuth, Ulf von - 2003
In diesem Papier wird ein neuer Rahmen für die Untersuchung der Wirkungen von Geldpolitik auf privatwirtschaftliche …, Geldpolitik ist wirksam, und privatwirtschaftliche Investitionen reagieren auf Änderungen der in den Kapitalnutzungskosten … erhöht die geschätzte Wirkung von Geldpolitik um ein Drittel im Vergleich zur Simulation einer isolierten …
Persistent link: https://www.econbiz.de/10011432001
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Identifying the role of labor markets for monetary policy in an estimated DSGE model
Christoffel, Kai (contributor); Küster, Keith (contributor) - 2006
We focus on a quantitative assessment of rigid labor markets in an environment of stable monetary policy. We ask how wages and labor market shocks feed into the inflation process and derive monetary policy implications. Towards that aim, we structurally model matching frictions and rigid wages...
Persistent link: https://www.econbiz.de/10003339179
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Identifying the role of labor markets for monetary policy in an estimated DSGE model
Christoffel, Kai (contributor); Kuester, Keith (contributor) - 2006
We focus on a quantitative assessment of rigid labor markets in an environment of stable monetary policy. We ask how wages and labor market shocks feed into the inflation process and derive monetary policy implications. Towards that aim, we structurally model matching frictions and rigid wages...
Persistent link: https://www.econbiz.de/10003337206
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Identifying the role of labor markets for monetary policy in an estimated DSGE model
Christoffel, Kai (contributor); Küster, Keith (contributor) - 2006
Persistent link: https://www.econbiz.de/10003448377
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Identifying the Role of Labor Markets for Monetary Policy in an Estimated DSGE Model
Christoffel, Kai Philipp - 2016
We focus on a quantitative assessment of rigid labor markets in an environment of stable monetary policy. We ask how wages and labor market shocks feed into the inflation process and derive monetary policy implications. Towards that aim, we structurally model matching frictions and rigid wages...
Persistent link: https://www.econbiz.de/10012991186
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Rebalancing the euro area : is wage adjustment in Germany the answer?
Hoffmann, Mathias; Kliem, Martin; Krause, Michael; … - In: Journal of international money and finance 119 (2021), pp. 1-23
Persistent link: https://www.econbiz.de/10013285020
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Identifying the Role of Labor Markets for Monetary Policy in an Estimated DSGE Model
Christoffel, Kai Philipp; Kuester, Keith; Linzert, Tobias - 2021
We focus on a quantitative assessment of rigid labor markets in an environment of stable monetary policy. We ask how wages and labor market shocks feed into the inflation process and derive monetary policy implications. Towards that aim, we structurally model matching frictions and rigid wages...
Persistent link: https://www.econbiz.de/10013317584
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Rebalancing the euro area : is wage adjustment in Germany the answer?
Hoffmann, Mathias; Kliem, Martin; Krause, Michael; … - 2020
We assess to what extent wage inflation policies in Germany could contribute to an economic rebalancing in the euro area and the rest of the world. We find that a rise in nominal wage inflation has positive short-run effects on inflation and output in Germany and the rest of the euro area. The...
Persistent link: https://www.econbiz.de/10012184056