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A SVECM Model of the UK Economy and the Term Premium
Dungey, Mardi H.; Vehbi, Tugrul - 2011
specifically accounts for the mixed nature of the data and cointegration between some variables. Using this framework the estimated …
Persistent link: https://www.econbiz.de/10014179268
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Monetary policy, global liquidity and commodity price dynamics
Belke, Ansgar; Bordon, Ingo G.; Hendricks, Torben - 2010
This paper examines the interactions between money, interest rates, goods and commodity prices at a global level. For this purpose, we aggregate data for major OECD countries and follow the Johansen/Juselius cointegrated VAR approach. Our empirical model supports the view that, when controlling...
Persistent link: https://www.econbiz.de/10010208787
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Monetary policy, global liquidity and commodity price dynamics
Belke, Ansgar; Bordon, Ingo G.; Hendricks, Torben - 2010
drivers of the current financial crisis, if not possibly more. -- Commodity prices ; cointegration ; CVAR analysis ; global …
Persistent link: https://www.econbiz.de/10003931399
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Monetary policy, global liquidity and commodity price dynamics
Belke, Ansgar; Bordon, Ingo G.; Hendricks, Torben - 2010
drivers of the current financial crisis, if not possibly more. -- Commodity prices ; cointegration ; CVAR analysis ; global …
Persistent link: https://www.econbiz.de/10003934679
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What central banks have learned: lessons from pre-EMU Europe
Houben, Aerdt C.F.J. - In: BNL Quarterly Review 54 (2001) 218, pp. 289-311
This paper examines the intentions and outturns of central bank policies in Europefrom the collapse of the Bretton Woods system of fixed exchange rates until the start ofEMU in 1999. It focuses on the lessons that can be drawn from the three dominant policy strategies of money targeting,...
Persistent link: https://www.econbiz.de/10010854332
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Monetary policy and wage bargaining in the EMU: restrictive ECB policies, high unemployment, nominal wage restraint and inflation above the target
Hein, Eckhard - In: BNL Quarterly Review 55 (2002) 222, pp. 299-337
(EMU), the first step sees development of a Post-Keynesian competitive claims model of inflation with endogenous money. In … the EMU, different scenarios determined by wage bargainingcoordination and the European Central Bank's (ECB) monetary … policies are developed. It is shown that the first phase of the EMU was dominated by uncoordinated wage bargaining across the …
Persistent link: https://www.econbiz.de/10010752493
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Monetary policy and wage bargaining in the EMU: restrictive ECB policies, high unemployment, nominal wage restraint and inflation above the target
Hein, Eckhard - In: Banca Nazionale del Lavoro Quarterly Review 55 (2002) 222, pp. 299-337
(EMU), the first step sees development of a Post-Keynesian competitive claims model of inflation with endogenous money. In … the EMU, different scenarios determined by wage bargainingcoordination and the European Central Bank's (ECB) monetary … policies are developed. It is shown that the first phase of the EMU was dominated by uncoordinated wage bargaining across the …
Persistent link: https://www.econbiz.de/10010752540
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What central banks have learned: lessons from pre-EMU Europe
Houben, Aerdt C.F.J. - In: Banca Nazionale del Lavoro Quarterly Review 54 (2001) 218, pp. 289-311
This paper examines the intentions and outturns of central bank policies in Europefrom the collapse of the Bretton Woods system of fixed exchange rates until the start ofEMU in 1999. It focuses on the lessons that can be drawn from the three dominant policy strategies of money targeting,...
Persistent link: https://www.econbiz.de/10010753924
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Are bond markets really overpriced : the case of the US
Clostermann, Jörg; Seitz, Franz - 2005
empirical part consists of a cointegration analysis with an error correction mechanism from the mid 80s until 2005. We are able …
Persistent link: https://www.econbiz.de/10012002995
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Structural Transformation, Services Deepening, and the Transmission of Monetary Policy
Galesi, Alessandro - 2016
Advanced economies are undergoing a structural transformation from manufacturing to services. We document that structural change comes with a process of services deepening: over time, both services and manufacturing become more intensive in service inputs. We argue that structural transformation...
Persistent link: https://www.econbiz.de/10012986126