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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
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The Micro-level Price Response to Monetary Policy
Balleer, Almut; Zorn, Peter - 2020
We estimate the effects of monetary policy on price-setting behavior in administrative micro data underlying the German producer price index. After expansionary monetary policy, the increase in the frequency of price change is economically small, the average absolute size across all price...
Persistent link: https://www.econbiz.de/10012287845
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Should Central Banks Consider Household Inflation Heterogeneity?
Stempel, Daniel; Neyer, Ulrike - 2022
Persistent link: https://www.econbiz.de/10013359267
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Limited Energy Supply, Sunspots, and Monetary Policy
Gornemann, Nils; Hildebrand, Sebastian; Kuester, Keith - 2023
Persistent link: https://www.econbiz.de/10014363700
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A beveridge curve decomposition for Austria: What drives the unemployment rate?
Christl, Michael - 2019
The Austrian Beveridge curve shifted in 2014, leading to ongoing academic discussions about the reasons behind this shift. While some have argued that the shift was caused by a supply shock due to labour market liberalization, others have stated that matching efficiency decreased. Using a new...
Persistent link: https://www.econbiz.de/10012099113
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Credit, Asset Prices and Business Cycles at the Global Level
Dees, Stephane - 2015
economic fluctuations is relatively large, but has not significantly increased since the global financial crisis. The … between financial cycles and business cycles at the global level. A Global VAR modelling approach, which has been proved … 1987-2013. An analysis on a sample excluding the post-financial crisis period is also provided to check whether financial …
Persistent link: https://www.econbiz.de/10011400651
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Competition among banks and the pass-through of monetary policy
Güntner, Jochen - 2010
This paper introduces monopolistically competitive banks into the New Keynesian DSGE setting. I find that this contributes to explaining three empirical facts: (i) The short-run transmission of changes in monetary policy to bank retail rates is far from complete and heterogeneous. Stiffer...
Persistent link: https://www.econbiz.de/10010270160
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Atypical Behavior of Money and Credit: Evidence From Conditional Forecasts
Afanasyeva, Elena - 2012
Great Recession 2007-2008 has revived interest to quantity aggregates (money and credit) and their role as indicators of financial instability for monetary and macroprudential policy. However, many of the previous empirical studies inspecting indicator properties used univariate methods and did...
Persistent link: https://www.econbiz.de/10010310699
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Real effects of Quantitative Easing at the Zero-Lower Bound: Structural VAR-based evidence from Japan
Watzka, Sebastian; Schenkelberg, Heike - 2011
Using monthly post-1995 Japanese data we propose a new sign-restriction based approach to identify monetary policy shocks when the economy is at the zero-lower bound (ZLB). The identifying restrictions are thoroughly grounded in liquidity trap theory. Our results show that a quantitative easing...
Persistent link: https://www.econbiz.de/10010305922
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Unconventional Monetary Policy, Bank Lending, and Security Holdings: The Yield-Induced Portfolio Rebalancing Channel
Paludkiewicz, Karol - 2018
Persistent link: https://www.econbiz.de/10011892579