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A small New Keynesian model to analyze business cycle dynamics in Poland and Romania
Nalban, Valeriu - In: Contemporary economics 9 (2015) 3, pp. 319-336
observed variables. Shock decompositions of the output and the inflation rate revealed the driving forces of the business … Poland. …
Persistent link: https://www.econbiz.de/10011392289
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Would a Stricter Fed Policy and Financial Regulation Have Averted the Financial Crisis?
Gokhale, Jagadeesh - 2009
Many commentators have argued that if the Federal Reserve had followed a stricter monetary policy earlier this decade when the housing bubble was forming, and if Congress had not deregulated banking but had imposed tighter financial standards, the housing boom and bust - and the subsequent...
Persistent link: https://www.econbiz.de/10013155688
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The scarring effects of deep contractions
Aikman, David; Drehmann, Mathias; Juselius, Mikael; … - 2022
We find that deep contractions have highly persistent scarring effects, depressing the level of GDP at least a decade hence. Drawing on a panel of 24 advanced and emerging economies from 1970 to the present, we show that these effects are nonlinear and asymmetric: there is no such persistence...
Persistent link: https://www.econbiz.de/10013382160
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Financial Imbalances, Crisis Probability and Monetary Policy in Norway
Alstadheim, Ragna - 2017
We assess the strength of the impact of a monetary policy shock on financial crisis probability in Norway. Policy … monetary policy shock on crisis probability is about 10 times larger than what previous studies suggest. The large impact is … mostly due to a fall in property prices and banks' wholesale funding in response to a contractionary monetary policy shock …
Persistent link: https://www.econbiz.de/10012943245
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Assessing the optimality of euro adoption in Romania through shock correlations
Bodea, Adrian - In: European journal of government and economics : EJGE 10 (2021) 2, pp. 107-127
shock correlations between Romania and many other European economic entities, while also isolating the effect of post 2005 …
Persistent link: https://www.econbiz.de/10013174010
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What's up with the Phillips curve?
Del Negro, Marco; Lenza, Michele; Primiceri, Giorgio E.; … - 2020
The business cycle is alive and well, and real variables respond to it more or less as they always did. Witness the Great Recession. In ation, in contrast, has gone quiescent. This paper studies the sources of this disconnect using VARs and an estimated DSGE model. It finds that the disconnect...
Persistent link: https://www.econbiz.de/10012241237
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Housing Price, Credit, and Output Cycles : How Domestic and External Shocks Impact Lithuania's Credit
Ioannou, Iacovos - 2018
Lithuania's current credit cycle highlights the strong link between housing prices and credit. We explore this relationship in more detail by analyzing the main features of credit, housing price, and output cycles in Baltic and Nordic countries during1995-2017. We find a high degree of...
Persistent link: https://www.econbiz.de/10012912503
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Global or Domestic? Which Shocks Drive Inflation in European Small Open Economies?
Halka, Aleksandra - 2016
selected European economies - the Czech Republic, Poland and Sweden - on the global shocks controlling for the domestic … determined by the cyclical movements of the domestic output gap with the commodity shock being also the important source of … inflation variability while for the third country the contribution of the commodity shock dominates over the output gap in …
Persistent link: https://www.econbiz.de/10012987483
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Modelling determinants of inflation in CESEE countries : global vector autoregressive approach
Jakši, Saša - In: Národohospodářský obzor : časopis věnovaný … 22 (2022) 2, pp. 137-169
Persistent link: https://www.econbiz.de/10013270502
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Shocks versus structure : explaining differences in exchange rate pass-through across countries and time
Forbes, Kristin; Hjortsoe, Ida; Nenova, Tsvetelina - 2017
We show that exchange rate pass-through to consumer prices varies not only across countries, but also over time. Previous literature has highlighted the role of an economy's "structure" - such as its inflation volatility, inflation rate, use of foreign currency invoicing, and openness - in...
Persistent link: https://www.econbiz.de/10011671018