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The long-term distribution of expected inflation in the euro area : what has changed since the great recession?
Dovern, Jonas; Kenny, Geoff - Task Force on Low Inflation (LIFT) - 2017
This paper analyses the distribution of long-term inflation expectations in the euro area using individual density …
Persistent link: https://www.econbiz.de/10011636332
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Monetary policy in the Euro Area : active or passive?
Albonico, Alice; Ascari, Guido; Haque, Qazi - 2024
Persistent link: https://www.econbiz.de/10014538819
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Financial cycles, monetary policy and macroprudential policy in the euro area
Freystätter, Hanna; Putkuri, Hanna; Vauhkonen, Jukka - In: Bulletin / Bank of Finland 87 (2013) 4, pp. 35-47
Persistent link: https://www.econbiz.de/10010203215
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Identifying effective combinations of economic policy measures for the coronavirus recession in Europe
Bernoth, Kerstin; Clemens, Marius; Dany-Knedlik, Geraldine - In: DIW weekly report : economy, politics, science : a … 10 (2020) 23, pp. 263-273
As the coronavirus pandemic spread across the globe in early 2020, the European Central Bank as well as national governments in the euro area enacted or announced numerous economic policy measures to counteract the severe economic consequences of the resulting lockdowns. In this paper, the...
Persistent link: https://www.econbiz.de/10012231998
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Money, credit, monetary policy, and the business cycle in the euro area : what has changed since the crisis?
Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - 2019
This paper studies the relationship between the business cycle and financial intermediation in the euro area. We establish stylized facts and study their stability during the global financial crisis and the European sovereign debt crisis. Long-term interest rates have been exceptionally high and...
Persistent link: https://www.econbiz.de/10012000041
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Money, credit, monetary policy and the business cycle in the euro area : what has changed since the crisis?
Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - 2019
This paper studies the relationship between the business cycle and financial intermediation in the euro area. We establish stylized facts and study their stability during the global financial crisis and the European sovereign debt crisis. Long-term interest rates have been exceptionally high and...
Persistent link: https://www.econbiz.de/10011959310
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Monetary aggregates to improve early output gap estimates in the euro area : an empirical assessment
Boysen-Hogrefe, Jens - In: Journal of forecasting 34 (2015) 7, pp. 533-542
Persistent link: https://www.econbiz.de/10011390448
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Monetary aggregates to improve early output gap estimates in the euro area -- an empirical assessment
Boysen-Hogrefe, Jens - 2014
Output gap estimates at the current edge are subject to severe revisions. This study analyzes whether monetary aggregates can be used to improve the reliability of early output gap estimates as proposed by several theoretical models. A real-time experiment shows that real M1 can improve output...
Persistent link: https://www.econbiz.de/10010248220
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Mind the output gap : the disconnect of growth and inflation during recessions and convex Phillips curves in the euro area
Groß, Marco; Semmler, Willi - Task Force on Low Inflation (LIFT) - 2017
We develop a theoretical model that features a business cycle-dependent relation between out- put, price inflation and … inflation expectations, augmenting the model by Svensson (1997) with a nonlinear Phillips curve that reflects the rationale … pronounced convex relationship between inflation and the output gap, meaning that the coefficient in the Phillips curve on the …
Persistent link: https://www.econbiz.de/10011636803
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Financial sector-output dynamics in the euro area : non-linearities reconsidered
Schleer, Frauke; Semmler, Willi - 2014 - This version: January 2014
We analyze the feedback mechanisms between economic downturns and financial stress for several euro area countries. Our study employs newly constructed financial condition indices that incorporate banking variables extensively. We apply a non-linear Vector Smooth Transition Autoregressive...
Persistent link: https://www.econbiz.de/10010238376