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Financial Imbalances, Crisis Probability and Monetary Policy in Norway
Alstadheim, Ragna - 2017
We assess the strength of the impact of a monetary policy shock on financial crisis probability in Norway. Policy … monetary policy shock on crisis probability is about 10 times larger than what previous studies suggest. The large impact is … mostly due to a fall in property prices and banks' wholesale funding in response to a contractionary monetary policy shock …
Persistent link: https://www.econbiz.de/10012943245
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Assessing the optimality of euro adoption in Romania through shock correlations
Bodea, Adrian - In: European journal of government and economics : EJGE 10 (2021) 2, pp. 107-127
shock correlations between Romania and many other European economic entities, while also isolating the effect of post 2005 …
Persistent link: https://www.econbiz.de/10013174010
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What's up with the Phillips curve?
Del Negro, Marco; Lenza, Michele; Primiceri, Giorgio E.; … - 2020
The business cycle is alive and well, and real variables respond to it more or less as they always did. Witness the Great Recession. In ation, in contrast, has gone quiescent. This paper studies the sources of this disconnect using VARs and an estimated DSGE model. It finds that the disconnect...
Persistent link: https://www.econbiz.de/10012241237
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Global or Domestic? Which Shocks Drive Inflation in European Small Open Economies?
Halka, Aleksandra - 2016
selected European economies - the Czech Republic, Poland and Sweden - on the global shocks controlling for the domestic … determined by the cyclical movements of the domestic output gap with the commodity shock being also the important source of … inflation variability while for the third country the contribution of the commodity shock dominates over the output gap in …
Persistent link: https://www.econbiz.de/10012987483
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Modelling determinants of inflation in CESEE countries : global vector autoregressive approach
Jakši, Saša - In: Národohospodářský obzor : časopis věnovaný … 22 (2022) 2, pp. 137-169
Persistent link: https://www.econbiz.de/10013270502
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Identification of Monetary Policy Shocks from FOMC Transcripts
Ostapenko, Nataliia - 2020
) with my new measure shows that economic activity and inflation decline in response to a monetary policy shock. Moreover …
Persistent link: https://www.econbiz.de/10012842847
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What Drives EMU Current Accounts? A Time Varying Structural VAR Approach
Podstawski, Maximilian - 2016
Current account imbalances have been a decisive feature of the European banking and sovereign debt crisis. This paper investigates the drivers of euro area current accounts, their divergence and subsequent rebalancing, within a structural model accommodating potential regime changes at the...
Persistent link: https://www.econbiz.de/10012992498
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Monetary policy and the relative price of durable goods
Cantelmo, Alessandro; Melina, Giovanni - 2015
In a VAR model of the US, the response of the relative price of durables to a monetary contraction is either flat or mildly positive. It significantly falls only if narrowly defined as the ratio between new house and nondurables prices. These findings survive three identification strategies and...
Persistent link: https://www.econbiz.de/10010515460
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Capital inflows and asset prices : evidence from emerging Asia
Tillmann, Peter - 2012
The withdrawal of foreign capital from emerging countries at the height of the recent financial crisis and its quick return sparked a debate about the impact of capital flow surges on asset markets. This paper addresses the response of property prices to an inflow of foreign capital. For that...
Persistent link: https://www.econbiz.de/10010392193
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The spillover of euro area shocks to the Maltese economy
Gatt, William; Ruisi, Germano - 2022
the Maltese economy. The model focuses on five broad macroeconomic shocks hitting the euro area; an aggregate demand shock … global market for oil, a generic monetary policy shock encompassing both conventional and unconventional interventions, and a … financial stress shock. The model is estimated using Bayesian methods over a sample that goes from 2003Q1 to 2019Q4 and …
Persistent link: https://www.econbiz.de/10012818649