Showing 101 - 110 of 316
Persistent link: https://www.econbiz.de/10009374688
Persistent link: https://www.econbiz.de/10009310114
Persistent link: https://www.econbiz.de/10009424372
This paper proposes a new procedure for shock identification of macroeconomic forecasts based on factor analysis. Our identification scheme for information shocks relies on data reduction techniques for daily panels and the recognition that macroeconomic releases exhibit a high level of...
Persistent link: https://www.econbiz.de/10011397264
Recent time-series evidence has re-confirmed the forecasting ability of Swiss broad money. The same money demand studies and others, however, find that the income elasticity is greater than one. Such parameter estimates are difficult to reconcile with transactions demand theory. This study...
Persistent link: https://www.econbiz.de/10011397268
The timely release of macroeconomic data imposes a distinct structure on the panel: the clustering and sequential ordering of real and nominal variables. We call this orderly release of economic data sequential information flow. The ordered panel generates a new class of restrictions that are...
Persistent link: https://www.econbiz.de/10011397588
Reuters news reports have become an accepted tool for empirical studies analyzing informational asymmetries in FX markets. This paper tests the accuracy of the Reuters reports for Swiss interventions in the foreign exchange market. The evidence finds that the time stamp of the Reuters reports...
Persistent link: https://www.econbiz.de/10011397689
This note sheds new light on the dynamic properties of maintenance and repair and examines the behavior of an additional form of capital spending - that of improvements. The analysis examines a unique long-run data set on Swiss road spending.
Persistent link: https://www.econbiz.de/10011397719
The monetary implications arising from EMU for Swiss monetary policy show up primarily in the exchange rate. Until now, fluctuations in the Swiss franc against the euro have been surprisingly moderate. The Swiss franc has thus tracked the euro's decline against the US dollar without experiencing...
Persistent link: https://www.econbiz.de/10011397826
In this paper, we examine external, monetary, and structural determinants of crosscountry variation in reserve volatility for 30 emerging market economies from 1973 to 2000. We find that reserve holdings and openness to be the most important determinants of reserve volatility. These results are...
Persistent link: https://www.econbiz.de/10011397830