Showing 1 - 10 of 33
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/10012421507
The present paper proposes the analysis of the sectors of the national economy from the point of view of production (Gross Domestic Product) but also from the point of view of consumption (average monthly labor costs). This paper is based on the analysis of the statistical data from a...
Persistent link: https://www.econbiz.de/10012212731
We investigate how protectionist policies influence short-run economic growth. Our empirical strategy exploits an extraordinary tax scandal that gave rise to an unexpected change of government in Sweden. A free-trade majority in parliament was overturned by a protectionist majority in 1887. We...
Persistent link: https://www.econbiz.de/10013337792
What is the role of heterogenous house-price expectations for boom-bust cycles in the housing market? We exploit a unique Dutch panel data set on households' house price expectations and their consumption, savings and housing choices for the period 2003-2016. This period was characterized by a...
Persistent link: https://www.econbiz.de/10012265571
The interaction of inequality and growth and the direction of causality in this relationship have been an extensively discussed topic with several questions but without clear answers both in the theoretical and empirical literature. The current paper contributes mainly into the new economic...
Persistent link: https://www.econbiz.de/10011575247
Romania is a country with a high production potential for the vegetables and fruits, due in particular to the high natural fertility of soils and to the climate diversity. Besides the favorable conditions for the production of fruits and vegetables, it should be mentioned that Romania is a...
Persistent link: https://www.econbiz.de/10012058733
We study the effects of financial sanctions on cross-border credit supply. Using a differences-in-differences approach to analyze eleven sanctions episodes between 2002 and 2015, we find that banks located in Germany reduce their positions in countries with sanctioned entities by 38%. The...
Persistent link: https://www.econbiz.de/10012230708
Financial contracts are complicated and consumers often do not grasp them in their entirety. This may lead to financial mistakes. We develop a quantitative theory of unsecured credit and equilibrium default in a market with sophisticated and naïve borrowers who sometimes misunderstand their...
Persistent link: https://www.econbiz.de/10013328047
We propose a novel framework where forward guidance (FG) is endogenously determined. Our model assumes that a monetary authority solves an optimal policy problem under commitment at the zero-lower bound. FG derives from two sources: 1. from commiting to keep interest rates low at the exit of the...
Persistent link: https://www.econbiz.de/10012304687
This work investigates effects of conventional monetary policy and central bank information shocks from monetary policy announcements on the U.S. economy. We identify the surprises caused by changes in target rate and central bank’s private information embedded in high frequency exchange rate...
Persistent link: https://www.econbiz.de/10012304714