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Strong exports and low interest rates drive Euroland's economy

Gern, Klaus-Jürgen; Meier, Carsten-Patrick; Scheide, … - 1999

In the fall of 1999, the recovery in Euroland is back on track. The turnaround was caused by the improvement in the world economy. After exports had been depressed in the past winter due to the weak demand in the crisis countries particularly in Asia, the impulses from abroad have picked up...

Persistent link: https://www.econbiz.de/10010294960

The ‘Great Moderation’ in the United Kingdom

Benati, Luca - 2007

We use a Bayesian time-varying parameters structural VAR with stochastic volatility for GDP deflator inflation, real GDP growth, a 3-month nominal rate, and the rate of growth of M4 to investigate the underlying causes of the Great Moderation in the United Kingdom. Our evidence points towards a...

Persistent link: https://www.econbiz.de/10011604815

VAR analysis and the Great Moderation

Benati, Luca; Surico, Paolo - 2008

Most analyses of the U.S. Great Moderation have been based on structural VAR methods, and have consistently pointed towards good luck as the main explanation for the greater macroeconomic stability of recent years. Based on an estimated New-Keynesian model in which the only source of change is...

Persistent link: https://www.econbiz.de/10011604912

Monetary Policy and the Financing of Firms

De Fiore, Fiorella; Teles, Pedro; Tristani, Oreste - 2009

How should monetary policy respond to changes in financial conditions? In this paper we consider a simple model where firms are subject to idiosyncratic shocks which may force them to default on their debt. Firms’ assets and liabilities are denominated in nominal terms and predetermined when...

Persistent link: https://www.econbiz.de/10011605169

The dire effects of the lack of monetary and fiscal coordination

Bianchi, Francesco; Melosi, Leonardo - 2017

What happens if the government's willingness to stabilize a large stock of debt is waning, while the central bank is adamant about preventing a rise in inflation? The large fiscal imbalance brings about inflationary pressures, triggering a monetary tightening, further debt accumulation, and...

Persistent link: https://www.econbiz.de/10012030336

Heterogeneous consumers, segmented asset markets, and the effects of monetary policy

Enders, Zeno - 2010

This paper examines the implications of segmented assets markets for the real and nominal effects of monetary policy. I develop a model, in which varieties of consumption bundles are purchased sequentially. Newly injected money thus disseminates slowly through the economy via second-round...

Persistent link: https://www.econbiz.de/10010270424

Deutsche Wirtschaft noch in der Defensive: Aber erste Anzeichen für ein Ende des Abschwungs

Drygalla, Andrej; Exß, Franziska; Heinisch, Katja; … - In: Konjunktur aktuell 12 (2024) 2, pp. 34-90

Verbesserung des globalen Geschäftsklimas im Frühsommer schließen. Dennoch bleiben die Aussichten für die internationale Konjunktur … Konjunktur in den nächsten Monaten leicht sinken dürfte. Alles in allem wird die Produktion im Sommerhalbjahr wohl nur verhalten …

Persistent link: https://www.econbiz.de/10014583755

Deutschland in der Stagnation festgefahren: Privater Konsum weiter unter dem Niveau von vor der Pandemie

Drygalla, Andrej; Exß, Franziska; Heinisch, Katja; … - In: Konjunktur aktuell 12 (2024) 1, pp. 1-31

Zu Beginn des Jahres 2024 zeigen Stimmungsindikatoren etwas aufgehellte Aussichten für die internationale Konjunktur … Geldpolitik und in Europa der russische Krieg gegen die Ukraine sowie in China die dortige Immobilienkrise. Die Finanzmärkte sind … die Tatsache optimistisch stimmen, dass die restriktive Geldpolitik bisher überraschend wenig gedämpft hat. In Europa …

Persistent link: https://www.econbiz.de/10014583760

Robust Control and Persistence in New Keynesian Monetary Policy Analysis

Paetz, Michael - 2007

von gestörten Modellen um das Referenzmodell und wählt die optimale Geldpolitik so, dass diese im ungünstigsten Modellfall … geldpolitisches Instrument beinhaltet. Wesentlich für die Herleitung der optimalen Geldpolitik ist die Persistenz in der Inflations … zwischen Geldpolitik und verschiedenen Arten von Unsicherheit verdeutlicht, bevor in Kapitel 3 die derzeitige state …

Persistent link: https://www.econbiz.de/10009449715

Customer Markets and the Real Effects of Monetary Policy Shocks

Hristov, Nikolay - 2008

In recent years the New Keynesian Model with price stickiness of the Calvo type has become the most widely used theoretical framework for addressing various normative issues such as how optimal monetary and fiscal policy should be conducted. However, the New Keynesian Model has been criticized...

Persistent link: https://www.econbiz.de/10009482289

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