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How stable are monetary models of the dollar-euro exchange rate? : a time-varying coefficient approach

Beckmann, Joscha; Belke, Ansgar; Kühl, Michael - 2009

exchange rate to one of the politically most important exchange rates, the exchange rate of the US dollar vis-à-vis the euro … (the DM). We use monthly data from 1975:01 to 2007:12. Applying a novel time-varying coefficient estimation approach, we …

Persistent link: https://www.econbiz.de/10010207061

Volatility patterns of CDS, bond and stock markets before and during the financial crisis : evidence from major financial institutions

Belke, Ansgar; Gokus, Christian - 2011

This study is motivated by the development of credit-related instruments and signals of stock price movements of large banks during the recent financial crisis. What is common to most of the empirical studies in this field is that they concentrate on modeling the conditional mean. However,...

Persistent link: https://www.econbiz.de/10010209431

Contagion, herding and exchange-rate instability : a survey

Belke, Ansgar; Setzer, Ralph - In: Intereconomics : review of European economic policy 39 (2004) 4, pp. 222-228

Persistent link: https://www.econbiz.de/10002148388

Doomsday for the euro area : causes, variants and consequences of breakup

Belke, Ansgar; Verheyen, Florian - 2013

of the euro area. For this purpose, we differentiate between the departure of weak and strong countries, and examine the …

Persistent link: https://www.econbiz.de/10010255127

A more effective euro area monetary policy than OMTs : gold-backed sovereign debt

Belke, Ansgar - 2013

This paper argues that using gold as collateral for highly distressed bonds would bring great benefits to the euro area … in the context of the euro crisis. This move is then compared to the ECB’s now terminated Securities Market Programme …

Persistent link: https://www.econbiz.de/10010255196

Is euro area demand (still) stable? : cointegrated VAR versus single equation techniques

Belke, Ansgar; Czudaj, Robert - 2010

In this paper we present an empirically stable euro area money demand model. Using a sample period until 2009:2 shows … stability of the euro area money demand function. We also compare single equation methods like the ARDL approach, FM-OLS, CCR …

Persistent link: https://www.econbiz.de/10010208785

Equilibrium real interest rates, secular stagnation, and the financial cycle : empirical evidence for euro-area member countries

Belke, Ansgar; Klose, Jens - 2018

Is the Euro area as a whole, or are individual Euro-area member countries facing a period of sustained lower economic …, we expand our model to incorporate the financial cycle. We estimate the model for the Euro area as a whole and for nine … Euro-area member countries. Incorporating the financial cycle changes the estimated equilibrium real interest rates: For …

Persistent link: https://www.econbiz.de/10011894437

(How) do the ECB and the fed react to financial market uncertainty? : the Taylor rule in times of crisis

Belke, Ansgar; Klose, Jens - 2010

We assess differences that emerge in Taylor rule estimations for the Fed and the ECB before and after the start of the subprime crisis. For this purpose, we apply an explicit estimate of the equilibrium real interest rate and of potential output in order to account for variations within these...

Persistent link: https://www.econbiz.de/10010208788

A more effective euro area monetary policy than OMTs : gold-backed sovereign debt

Belke, Ansgar - In: Intereconomics : review of European economic policy 48 (2013) 4, pp. 237-242

Given the shortcomings of the current responses to the sovereign debt crisis in the eurozone, the author proposes utilising national gold reserves as collateral for government debt. Gold backing would be quite attractive to bond investors and would significantly ease the burden of high sovereign...

Persistent link: https://www.econbiz.de/10009775696

Long-term interest rate spillovers from major advanced economies to emerging Asia

Belke, Ansgar; Dubova, Irina; Volz, Ulrich - 2016

This paper explores the extent to which changes to long-term interest rates in major advanced economies have influenced long-term government bond yields in Emerging Asia. To gauge long-term interest spillover effects, the paper uses VAR variance decompositions with high frequency data. Our...

Persistent link: https://www.econbiz.de/10011582282