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Money Demand in Four African Countries
Fielding, David - In: Journal of Economic Studies 21 (1994) 2, pp. 3-37
for four African economies, using quarterly data. Finds that money demand depends not only on income, inflation and … interest rates, but also on variability of inflation and interest rates: the more variable the return to an asset, the lower …. Since high inflation tends to be associated with highly variable inflation, any calculation of the seignorage …
Persistent link: https://www.econbiz.de/10014863438
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Neues von der NAIRU? / News from the NAIRU?
Franz, Wolfgang - In: Jahrbücher für Nationalökonomie und Statistik 221 (2001) 3, pp. 256-284
Summary This paper is devoted to a new estimation of the non-accelerating inflation rate of unemployment (NAIRU) for …
Persistent link: https://www.econbiz.de/10014608832
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Money, Inflation and Growth in Germany. A Vector-Error-Correction-P-Star Model / Der Zusammenhang zwischen Geldmenge, Output und Preisen in Deutschland. Ein Vektorfehlerkorrektur-P...
Clostermann, Jörg; Seitz, Franz - In: Jahrbücher für Nationalökonomie und Statistik 222 (2002) 6, pp. 641-655
Summary The present paper uses the P-Star approach to analyze the real and price effects of German monetary policy on the basis of a multivariate vector-error-correction-model. One surprising result is that the Bundesbank does not cause the price effects of its monetary policy actions directly...
Persistent link: https://www.econbiz.de/10014608908
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Potenziale und Grenzen eines nutzenbasierten ökonomischen Leitbildes für die amtliche Inflationsmessung / What Role Should Economic Reasoning Play in the Compilation of the Officia...
Auer, Ludwig von - In: Jahrbücher für Nationalökonomie und Statistik 225 (2005) 3, pp. 27-46
Verfügung. Letztlich muss die offizielle Inflation deshalb auf Basis eines statistischen Preisindex (SP) berechnet werden. Bei …
Persistent link: https://www.econbiz.de/10014609046
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Domestic Fiscal Policy in a Monetary Union: What are the Spillovers? / Fiskalpolitik in einer Währungsunion: Internationale Auswirkungen
Welsch, Heinz - In: Jahrbücher für Nationalökonomie und Statistik 220 (2000) 3, pp. 327-342
Summary This paper examines the spillovers of domestic fiscal expansion in a monetary union. Such a policy action leads to cross-country crowding-out effects on the one hand and cross-country multiplier effects on the other. The overall effect is indeterminate a priori. The approach pursued is...
Persistent link: https://www.econbiz.de/10014608770
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Unterschiedliche makroökonomische Strukturen, wirtschaftliche Integration und einheitliche Geldpolitik in Europa / Asymmetrie Macroeconomic Structures, Economic Integration and the...
In: Jahrbücher für Nationalökonomie und Statistik 222 (2002) 1, pp. 1-21
Zusammenfassung Dieser Beitrag liefert einen Uberblick über die Bedeutung asymmetrischer makroökonomischer Strukturen in den EWU Mitgliedsländern für die einheitliche Geldpolitik. Zunächst wird im Rahmen eines Modells illustriert, welche grundsätzliche Bedeutung asymmetrischen...
Persistent link: https://www.econbiz.de/10014608865
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The ECB as Lender of Last Resort: Banks versus Governments
Winkler, Adalbert - In: Jahrbücher für Nationalökonomie und Statistik 235 (2015) 3, pp. 329-341
lead to inflation, is convincing. However, decisive steps towards fiscal and banking union are needed to stabilize the euro …
Persistent link: https://www.econbiz.de/10014609541
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Horizontal Transfers and Consumption Smoothing in a Monetary Union
Roeger, Werner; Vogel, Lukas - In: Jahrbücher für Nationalökonomie und Statistik 237 (2017) 3, pp. 275-294
Abstract The paper investigates the impact of automatic horizontal fiscal transfers on risk sharing and consumption smoothing in a 2-country DSGE model of monetary union. In particular, it uses the Asdrubali et al. (1996) approach to quantify and decompose the strength of consumption...
Persistent link: https://www.econbiz.de/10014609634
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Monetary decentralization in the United States: is there a case for multiple currencies?
Chupp, Benjamin Andrew - In: Journal of Economic Studies 43 (2016) 4, pp. 535-548
Purpose When sectoral shocks hit a large, regionally heterogeneous economy, it is likely that regions with sectoral specialization will be affected in different ways. In these cases, it might be optimal for the country to decentralize the currency into a number of regional currencies, thus...
Persistent link: https://www.econbiz.de/10014863981
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Banking union in a single currency area: evidence on financial fragmentation
Valiante, Diego - In: Journal of Financial Economic Policy 7 (2015) 3, pp. 251-274
Purpose – The purpose of this paper is to assess the impact of the impact of the single currency on the institutional design of the banking union, through evidence on the financial integration process. Design/methodology/approach – Data analysis uses multiple sources of data on key drivers...
Persistent link: https://www.econbiz.de/10014867150