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Identification Robust Empirical Evidence on the Euler Equation in Open Economies

Haque, Qazi - 2020

We investigate the empirical evidence on the Euler equation models using methods that are robust to weak instruments and structural changes for a set of eight countries. We start with the conventional closed economy model and consider extensions that include habits and hand-to-mouth consumers....

Persistent link: https://www.econbiz.de/10012841945

Forecasting Economy with Bayesian Autoregressive Distributed Lag Model : Choosing Optimal Prior in Economic Downturn

Buss, Ginters - 2009

Bayesian inference requires an analyst to set priors. Setting the right prior is crucial for precise forecasts. This paper analyzes how optimal prior changes when an economy is hit by a recession. For this task, an autoregressive distributed lag model is chosen. The results show that a sharp...

Persistent link: https://www.econbiz.de/10013156355

Inflation convergence in the EMU

Karanasos, Menelaos; Koutroumpis, P.; Karavias, Y.; … - In: Journal of empirical finance 39 (2016), pp. 241-253

Persistent link: https://www.econbiz.de/10011664324

Monetary Convergence and Risk Premiums in the EU Accession Countries

Orlowski, Lucjan T. - 2005

This study examines the impact of various monetary policy regimes on the ability to lower inflation and exchange rate … policy framework of flexible targeting of relative inflation risk premium that is believed to be credible and useful for … managing these two categories of risk. A model of inflation and exchange rate risk premiums within the context of inflation …

Persistent link: https://www.econbiz.de/10014067013

Fiscal policy in the semi-structural model ECB-BASE

Bańkowski, Krzysztof - 2023

Fiscal policy constitutes a key tool for business cycle stabilisation next to monetary policy. In this context, having a well-suited macroeconomic model for analysing fiscal policy at a central bank is of primary importance. This paper documents the fiscal block of the ECB-BASE, which is a...

Persistent link: https://www.econbiz.de/10014278636

Estimating regime dependent fiscal spillover effects in a monetary union

Kunzmann, Vanessa - 2023

policy varies between inflation targeting and restrained price level determination. I find that spillover multipliers are …

Persistent link: https://www.econbiz.de/10014335117

Micro data on nominal rigidity, inflation persistence and optimal monetary policy

Kara, Engin - 2009

explain the persistence of inflation. However, both of these theories are inconsistent with the micro data on prices. In this … difference between the GTE and its popular alternatives in terms of inflation persistence, a difference arises when it comes to …

Persistent link: https://www.econbiz.de/10011597192

Aggregate Supply and Potential Output

Razin, Assaf - 2007

The New-Keynesian aggregate supply derives from micro-foundations an inflation-dynamics model very much like the … tradition in the monetary literature. Inflation is primarily affected by: (i) Economic slack; (ii) Expectations; (iii) Supply … shocks; and, (iv) Inflation persistence.This paper extends the New Keynesian aggregate supply relationship to include …

Persistent link: https://www.econbiz.de/10012729332

Micro Data on Nominal Rigidity, Inflation Persistence and Optimal Monetary Policy

Kara, Engin - 2010

Persistent link: https://www.econbiz.de/10013137714

Two orthogonal continents : testing a two-country DSGE model of the US and the EU using indirect inference

Le, Vo Phuong Mai; Meenagh, David; Meenagh, David; … - 2009

We examine a two country model of the EU and the US. Each has a small sector of the labour and product markets in which there is wage/price rigidity, but otherwise enjoys flexible wages and prices with a one quarter information lag. Using a VAR to represent the data, we find the model as a whole...

Persistent link: https://www.econbiz.de/10003817144

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