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Volatility and regional growth in Europe: Does space matter?

Ibáñez, Vicente Rios; Ezcurra, Roberto - 2013

This paper investigates the relationship between volatility and economic growth in the European regions over the period … allow us to incorporate into the analysis the relevance of spatial effects in the processes of regional growth in Europe … business cycle and regional growth, which is mainly consequence of the spatial spillovers induced by the incidence of …

Persistent link: https://www.econbiz.de/10011397312

Comparative analysis for Japanese Private Sector IT investment and Productivity The roles of IT investments for corporate growth and profit

Sugihara, Yoshitaka - 2017

offensive IT investment. I analyzed what kind of IT investment would lead company profit, growth, and what kind of IT investment … made reluctance for companies. I found out empirical relations between IT investment and corporate productivity. Analyses … of productivity revealed low productivity among some business types and fields, where significantly fewer benefits were …

Persistent link: https://www.econbiz.de/10011720242

Animal spirits and credit spreads in a model with a cost channel

Bofinger, Peter; Debes, Sebastian; Gareis, Johannes; … - 2011

Shocks in the financial sector caused the great recession of 2008 and pulled down the real economy. To implement financial dynamics in a stylized DSGE-framework we use behavioral elements in expectations to produce waves of bull and bear cycles in the financial intermediation process, that have...

Persistent link: https://www.econbiz.de/10010305923

Information Effects of Euro Area Monetary Policy: New evidence from high-frequency futures data

Kerssenfischer, Mark - 2019

Central bank announcements have strong effects on interest rates, but small or even counterintuitive effects on economic expectations. Based on tick-by-tick futures prices on bonds and stock prices, I confirm these seemingly puzzling results for the euro area and provide evidence that they are...

Persistent link: https://www.econbiz.de/10012099086

The Effects of Gender Discrimination in DSGE Models

Stempel, Daniel; Neyer, Ulrike - 2019

This paper theoretically analyzes the macroeconomic effects of gender discrimination against women in the labor market in a New Keynesian model. We extend standard frameworks by including unpaid household production in addition to paid labor market work, by assuming that the representative...

Persistent link: https://www.econbiz.de/10012099118

With a little help from my friends: Survey-based derivation of euro area short rate expectations at the effective lower bound

Schupp, Fabian; Geiger, Felix - 2018

The estimation of dynamic term structure models (DTSMs) turns out to be challenging in the presence of a small sample. It is exacerbated if the sample is characterized by a prolonged period of low interest rates near a time-varying effective lower bound. These challenges all weigh heavily when...

Persistent link: https://www.econbiz.de/10011892034

Factor augmented VAR revisited - A sparse dynamic factor model approach

Kaufmann, Sylvia; Beyeler, Simon - 2018

We combine the factor augmented VAR framework with recently developed estimation and identification procedures for sparse dynamic factor models. Working with a sparse hierarchical prior distribution allows us to discriminate between zero and non-zero factor loadings. The non-zero loadings...

Persistent link: https://www.econbiz.de/10011892107

The Macroeconomic Consequences of EMU: International Evidence from a DSGE Model

Röhe, Oke; Jerger, Jürgen - 2010

In this paper, we estimate a New Keynesian DSGE model developed by Ireland (2003) on French, German and Spanish data with the aim to explore the macroeconomic consequences of EMU. In order to validate the results from the DSGE model, we amend this analysis by stability tests of monetary policy...

Persistent link: https://www.econbiz.de/10010270116

News Shocks and Optimal Simple Rules

Wohltmann, Hans-Werner; Winkler, Roland C. - 2010

This paper evaluates the performance of optimal simple policy rules in the presence of news shocks. It is shown that the inclusion of forward-looking elements enhances the performance of simple optimized interest rate rules when agents learn about future disturbances in advance. We provide a...

Persistent link: https://www.econbiz.de/10010270182

Noisy Information, Interest Rate Shocks and the Great Moderation

Scharler, Johann; Mayer, Eric - 2010

In this paper we quantitatively evaluate the hypothesis that the Great Moderation is partly the result of a less activist monetary policy. We simulate a New Keynesian model where the central bank can only observe a noisy estimate of the output gap and find that the less pronounced reaction of...

Persistent link: https://www.econbiz.de/10010270239

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