We develop a two-country New Keynesian model with sticky local currency pricing,distribution costs and a demand elasticity increasing with the relative price. These features help to reduce the exchange rate pass-through to import price at the border and down the chain towards consumption price,...

Die vorliegende Dissertation mit dem Titel Monetary DSGE Models of Two Countries: Set-Up, Estimation, and Forecasting Performance beinhaltet neben einem einleitenden noch drei weitere Kapitel. In Kapitel 2 entwickeln wir ein Zwei-Länder-DSGE-Modell und untersuchen die Auswirkungen von...

Estimation of the Pareto tail index from extreme order statistics is an important problem in many settings. The upper tail of the distribution, where data are sparse, is typically fitted with a model, such as the Pareto model, from which quantities such as probabilities associated with extreme...