Narrow search
Showing 1 - 10 of 628,990
Cover Image
International transmission of shocks, money illusion and the velocity of money
Sousa, Teresa - 2011
economy. Furthermore we introduce a velocity of money shock revisiting the Quantity Theory of Money within the open economy … paradigm of microeconomic theory and invoked since a tendency to think in nominal rather than real terms becomes evident in the … a productivity shock are increasing in the degree of money illusion and decreasing in the degree of openness of the …
Persistent link: https://www.econbiz.de/10009379782
Cover Image
The welfare cost of inflation with banking time
Gillman, Max - 2018
The paper presents the welfare cost of inflation in a banking time economy that models exchange credit through a bank production approach. The estimate of welfare cost uses fundamental parameters of utility and production technologies. It is compared to a cash-only economy, and a Lucas (2000)...
Persistent link: https://www.econbiz.de/10012012509
Cover Image
Monetary policy and wandering overinvestment cycles in East Asia and Europe
Schnabl, Gunther - 2017
The paper analyses the role of monetary policy for cyclical movements of investment and asset markets in East Asia and Europe based on a Mises-Hayek overinvestment framework. It is shown how the gradual global decline of interest rates has triggered wandering overinvestment cycles in Japan,...
Persistent link: https://www.econbiz.de/10011655779
Cover Image
International Policy Spillovers at the Zero Lower Bound
Haberis, Alex - 2012
open economy (‘home') in response to a large global demand shock that pushes both economies to the zero lower bound (ZLB …
Persistent link: https://www.econbiz.de/10013099666
Cover Image
International Policy Spillovers at the Zero Lower Bound
Haberis, Alex - 2012
open economy ('home') in response to a large global demand shock that pushes both economies to the zero lower bound (ZLB …
Persistent link: https://www.econbiz.de/10013106784
Cover Image
The International Transmission of US Tax Shocks : A Proxy-Svar Approach
Metelli, Luca - 2019
effects of corporate tax shocks are stronger than those of personal income tax shock; (2) spillovers are in most cases …
Persistent link: https://www.econbiz.de/10012864911
Cover Image
Measuring Contagion with a Bayesian, Time-Varying Coefficient Model
Ciccarelli, Matteo; Rebucci, Alessandro - 2021
To measure contagion empirically, we propose using a Bayesian time-varying coefficient model estimated with Markov Chain Monte Carlo methods. The proposed measure works in the joint presence of heteroskedasticity and omitted variables and does not require knowledge of the timing of the crisis....
Persistent link: https://www.econbiz.de/10013319714
Cover Image
Spillover effects in international business cycles
Camacho, Maximo; Pacce, Matías; Pérez-Quirós, Gabriel - 2020
To analyze the international transmission of business cycle fluctuations, we propose a new multilevel dynamic factor model with a block structure that (i) does not restrict the factors to being orthogonal and (ii) mixes data sampled at quarterly and monthly frequencies. By means of Monte Carlo...
Persistent link: https://www.econbiz.de/10012305394
Cover Image
Microeconomic Uncertainty, International Trade, and Aggregate Fluctuations
Alessandria, George - 2014
The extent and direction of causation between micro volatility and business cycles are debated. We examine, empirically and theoretically, the source and effects of fluctuations in the dispersion of producer-level sales and production over the business cycle. On the theoretical side, we study...
Persistent link: https://www.econbiz.de/10013044944
Cover Image
The Federal Reserve's Portfolio and its Effects on Mortgage Markets
Hancock, Diana - 2012
We provide an empirical analysis of the effects of the Federal Reserve's asset holdings on MBS yields and mortgage rates. We argue that understanding the particulars of the U.S. mortgage markets, particularly the linkages between the secondary and primary mortgage markets, is important. We find...
Persistent link: https://www.econbiz.de/10013106785