Similar Search Results

Quantitative easing: A rationale and some evidence from Japan

Wieland, Volker - 2009

of recent announcements regarding direct asset purchases by the Bank of England, the Bank of Japan, the U.S. Federal … Reserve and the European Central Bank. Empirical evidence from the previous period of quantitative easing in Japan between … 2001 and 2006 is presented. During this earlier period the Bank of Japan was able to expand the monetary base very quickly …

Persistent link: https://www.econbiz.de/10010303752

Surprising comparative properties of monetary models: Results from a new model database

Taylor, John B.; Wieland, Volker - 2010

In this paper we investigate the comparative properties of empirically-estimated monetary models of the U.S. economy. We make use of a new database of models designed for such investigations. We focus on three representative models: the Christiano, Eichenbaum, Evans (2005) model, the Smets and...

Persistent link: https://www.econbiz.de/10011605307

Surprising comparative properties of monetary models: Results from a new data base

Taylor, John B.; Wieland, Volker - 2009

In this paper we investigate the comparative properties of empirically-estimated monetary models of the U.S. economy. We make use of a new data base of models designed for such investigations. We focus on three representative models: the Christiano, Eichenbaum, Evans (2005) model, the Smets and...

Persistent link: https://www.econbiz.de/10010303733

Keynesian government spending multipliers and spillovers in the euro area

Cwik, Tobias; Wieland, Volker - 2010

The global financial crisis has lead to a renewed interest in discretionary fiscal stimulus. Advocates of discretionary measures emphasize that government spending can stimulate additional private spending — the Keynesian multiplier effect. Thus, we investigate whether the spending package...

Persistent link: https://www.econbiz.de/10011605313

Keynesian government spending multipliers and spillovers in the Euro area

Cwik, Tobias J.; Wieland, Volker - 2009

The global financial crisis has lead to a renewed interest in discretionary fiscal stimulus. Advocates of discretionary measures emphasize that government spending can stimulate additional private spending the so-called Keynesian multiplier effect. Thus, we investigate whether the discretionary...

Persistent link: https://www.econbiz.de/10010303706

Fiscal consolidation strategy

Cogan, John F.; Taylor, John B.; Wieland, Volker; … - 2012

In the aftermath of the global financial crisis and great recession, many countries face substantial deficits and growing debts. In the United States, federal government outlays as a ratio to GDP rose substantially from about 19.5 percent before the crisis to over 24 percent after the crisis. In...

Persistent link: https://www.econbiz.de/10010311794

The European Central Bank's outright monetary transactions and the Federal Constitutional Court of Germany

Siekmann, Helmut; Wieland, Volker - 2013

This note reviews the legal issues and concerns that are likely to play an important role in the ongoing deliberations of the Federal Constitutional Court of Germany concerning the legality of ECB government bond purchases such as those conducted in the context of its earlier Securities Market...

Persistent link: https://www.econbiz.de/10010327782

Forecasting and policy making

Wieland, Volker; Wolters, Maik Hendrik - 2012

Persistent link: https://www.econbiz.de/10010368564

A new comparative approach to macroeconomic modeling and policy analysis

Wieland, Volker; Cwik, Tobias; Müller, Gernot J.; … - 2012

In the aftermath of the global financial crisis, the state of macroeconomicmodeling and the use of macroeconomic models in policy analysis has come under heavy criticism. Macroeconomists in academia and policy institutions have been blamed for relying too much on a particular class of...

Persistent link: https://www.econbiz.de/10010368575

A new comparative approach to macroeconomic modeling and policy analysis

Wieland, Volker; Cwik, Tobias J.; Müller, Gernot J.; … - 2012

In the aftermath of the global financial crisis, the state of macroeconomic modeling and the use of macroeconomic models in policy analysis has come under heavy criticism. Macroeconomists in academia and policy institutions have been blamed for relying too much on a particular class of...

Persistent link: https://www.econbiz.de/10010308555