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Bridging Economic Theory Models and the Cointegrated Vector Autoregressive Model

Møller, Niels Framroze - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-36, pp. 1-29

Examples of simple economic theory models are analyzed as restrictions on the Cointegrated VAR (CVAR). This establishes …

Persistent link: https://www.econbiz.de/10010298620

Monopoly innovation and welfare effects

Yao, Shuntian; Gan, Lydia - In: Economics: The Open-Access, Open-Assessment E-Journal 4 (2010) 2010-27, pp. 1-21

In this paper we study the welfare effect of a monopoly innovation. Unlike many partial equilibrium models carried out in previous studies, general equilibrium models are constructed and analyzed in greater detail. We discover that technical innovation carried out by a monopolist could...

Persistent link: https://www.econbiz.de/10010302705

Towards money market in general equilibrium framework

In: International Journal of Financial Studies 10 (2022) 1, pp. 1-18

This paper aims to integrate the money market into the structure of the economy. The microfoundation is the starting point to define the money market and the general equilibrium mechanism of the economy. On this basis, this research seeks a linking mechanism of the money market with economic...

Persistent link: https://www.econbiz.de/10013200410

Quantitative Easing in the Eurozone: a One-Year Assessment

van Lerven, Frank - In: Intereconomics 51 (2016) 4, pp. 237-242

By pumping trillions of euros into the eurozone's financial system, the ECB's quantitative easing programme intends to …

Persistent link: https://www.econbiz.de/10011956060

Country-level effects of the ECB's expanded asset purchase programme

Zlobins, Andrejs - In: Baltic Journal of Economics 20 (2020) 2, pp. 187-217

This paper evaluates the macroeconomic effects of the European Central Bank's (ECB) Expanded asset purchase programme (APP) on Latvia and other euro area jurisdictions and investigates the cross-border transmission mechanism. To that end, we employ two different vector autoregressive (VAR)...

Persistent link: https://www.econbiz.de/10013470750

Euro Area: Improved Outlook in Spite of Uncertainties

Boysen-Hogrefe, Jens; Fiedler, Salomon; Groll, Dominik; … - 2017

The economic recovery in the euro area remains moderate. While several sentiment indicators have improved considerably over the past few months, and therefore suggest that the recovery might gain some momentum, this has not yet been reflected in hard data, in particular not in the quarterly GDP...

Persistent link: https://www.econbiz.de/10012143295

Zehn Argumente gegen Quantitative Easing und den Ankauf von Staatsanleihen durch das Eurosystem

Jost, Thomas; Seitz, Franz - In: ifo Schnelldienst 68 (2015) 04, pp. 19-20

Am 22. Januar 2015 hat der EZB-Rat ein erweitertes Programm zum Ankauf von Vermögenswerten, das sogenannte »Quantitative Easing«, beschlossen. Thomas Jost, Hochschule Aschaffenburg, und Franz Seitz, Ostbayerische Technische Hochschule Weiden, kommentieren diese Entscheidung und ihre Konsequenzen.

Persistent link: https://www.econbiz.de/10011693780

Eurosystem collateral policy and framework: Post-Lehman time as a new collateral space

Belke, Ansgar - In: Intereconomics 50 (2015) 2, pp. 82-90

Collateral plays a central role in monetary policy. In recent years, its importance has increased as uncollateralised … collateral availability and the need for high-quality assets. The European Central Bank has reacted to this development by … creating a series of different measures to broaden collateral availability, including changing the eligibility rules (e …

Persistent link: https://www.econbiz.de/10011773240

Risk premia and the social cost of carbon: A review

Kousky, Carolyn; Kopp, Robert E.; Cooke, Roger M. - In: Economics: The Open-Access, Open-Assessment E-Journal 5 (2011) 2011-21, pp. 1-24

risk of catastrophic impacts. However, estimates of the social cost of carbon, which measures the marginal value of carbon … dioxide abatement, often do not capture this risk reduction benefit. Risk-averse individuals are willing to pay a risk premium … estimates obtained for calculating a risk premium to be included in the social cost of carbon. While more research is needed in …

Persistent link: https://www.econbiz.de/10010307625

A puzzle of excessive equity risk premium and the case of Poland

Kliber, Paweł - In: e-Finanse: Financial Internet Quarterly 12 (2016) 1, pp. 1-11

The article presents a historical review of the literature related to the empirical problem of excessive risk premium …. The risk premium (the difference between the return on equities and risk-free rate) observed in financial markets cannot …

Persistent link: https://www.econbiz.de/10012011855

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