Showing 1 - 10 of 175
Persistent link: https://www.econbiz.de/10001788034
Persistent link: https://www.econbiz.de/10001788037
Persistent link: https://www.econbiz.de/10001729256
The investment of the ECB reserves in US dollars and yen, delegated to a network of portfolio managers in the …. Employing a new data set on individual portfolio variables during 2002-2009, we study this peculiar tournament and show the … existence of risk-shifting behaviour by reserve managers related to their year-to-date ranking: interim losers increase relative …
Persistent link: https://www.econbiz.de/10009380425
Persistent link: https://www.econbiz.de/10001758852
Persistent link: https://www.econbiz.de/10001825952
Persistent link: https://www.econbiz.de/10001742960
This paper investigates the in inflationary effects of fscal policy in an optimizing general equilibrium monetary model with capital accumulation, exible prices and wealth effects. The model is calibrated to Euro Area quarterly data. Simulation results show that government defcits, high debt...
Persistent link: https://www.econbiz.de/10009635879
This paper investigates the performance of optimised interest rate rules when there is uncertainty about a key determinant of the monetary transmission mechanism, namely the degree of persistence characterising the inflation process. The paper focuses on the euro area and utilises two variants of...
Persistent link: https://www.econbiz.de/10009635885
This paper reviews the key economic issues concerning the welfare costs of inflation and deflation, with a view to shedding light on the desirable properties of the inflation process. Our review of the evidence on the overall costs of inflation and deflation indicates that such costs could be...
Persistent link: https://www.econbiz.de/10009635897