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Persistent link: https://www.econbiz.de/10011718254
We estimate a two-country Dynamic Stochastic General Equilibrium model for the US and the euro area including relevant housing market features and examine the monetary policy implications of housing-related disturbances. In particular, we derive the optimal monetary policy cooperation consistent...
Persistent link: https://www.econbiz.de/10011605018
This research note examines the impact of federal deficits on U.S. capital inflows. Expanding on the previous work of Bahamani-Oskooee and Payesteh (1994), we employ the relatively new maximum likelihood procedure developed by Johansen (1988) and Johansen and Juselius (1990) to do cointegration...
Persistent link: https://www.econbiz.de/10014076498
Dynamic Stochastic General Equilibrium (DSGE) models are often solved and estimated under specific assumptions as to whether the exogenous variables are difference or trend stationary. However, even mild departures of the data generating process from these assumptions can severely bias the...
Persistent link: https://www.econbiz.de/10013157788
This paper aims to quantify the impact of nominal exchange rate volatility on nominal trade flows with a particular focus on the Czech Republic. The paper shows that the magnitude of the impact differs when a dynamic model is used instead of static model.
Persistent link: https://www.econbiz.de/10010235255
We estimate a two-country Dynamic Stochastic General Equilibrium model for the US and the euro area including relevant housing market features and examine the monetary policy implications of housing-related disturbances. In particular, we derive the optimal monetary policy cooperation consistent...
Persistent link: https://www.econbiz.de/10003825943
This paper provides a survey and synthesis of econometric tools that have been employed to study economic growth. While these tools range across a variety of statistical methods, they are united in the common goals of first, identifying interesting contemporaneous patterns in growth data and...
Persistent link: https://www.econbiz.de/10014023779
The paper assesses the impact of adding information on financial cycles on the output gap estimates for eight advanced economies using two unobserved components models: a reduced form extended Hodrick-Prescott filter, and a standard semi-structural unobserved components model. To complement...
Persistent link: https://www.econbiz.de/10013249925
Development and humanitarian agencies have rapidly embraced the concept of resilience since the 2008 global financial and food price crises. We report the results of a formal scoping review of the literature on development resilience over the ensuing period. The review identifies the theoretical...
Persistent link: https://www.econbiz.de/10013323112
Persistent link: https://www.econbiz.de/10013364892