Search Results - subject:"Impulse response function"

THE NET BARTER TERMS OF TRADE : A SMOOTH TRANSITION APPROACH

Persson, Anna; Teräsvirta, Timo - Economics Institute for Research (SIR), … - 1999

This paper analyzes the net barter terms of trade measured by the primary commodity price index relative to the index of unit values of export of manufactures from industrial countries. The starting-point is that the series is stationary but possibly nonlinear. Statistical tests indicate that...

Persistent link: https://www.econbiz.de/10005423802

Industry effects of monetary policy in Germany

Hayo, Bernd; Uhlenbrock, Birgit - 1999

Persistent link: https://www.econbiz.de/10001404486

Dynamic effects of persistent shocks

Alloza, Mario; Gonzalo, Jesús; Sanz, Carlos

We show that several shocks identifi ed without restrictions from a model, and frequently used in the empirical literature, display some persistence. We demonstrate that the two leading methods to recover impulse responses to shocks (moving average representations and local projections) treat...

Persistent link: https://www.econbiz.de/10012523677

Recent changes in investment in Spain from a macroeconomic perspective

Aguilar, Pablo; Ghirelli, Corinna; Jiménez García, Blanca

Rationale Cyclical fluctuations in investment are usually sharper than fluctuations in other components of aggregate demand. This article aims to analyse, based on an econometric model, the role played by interest rates, demand and agents’ confidence (the drivers traditionally studied in the...

Persistent link: https://www.econbiz.de/10014313347

News and correlations: an impulse response analysis.

Le Pen, Yannick; Sévi, Benoît - Université Paris-Dauphine

correlations. In a second step, we apply the deﬁnition of the impulse response function in nonlinear models of Koop, Pesaran and … horizon, we estimate the density of the impulse response function with non parametric kernel estimator. These densities show … random shocks and histories. In a second step, we estimate these impulse response function with the observed history for …

Persistent link: https://www.econbiz.de/10009189930

DSGE Models for Monetary Policy Analysis

Christiano, Lawrence J.; Trabandt, Mathias; Walentin, Karl - In: Handbook of Monetary Economics

Monetary DSGE models are widely used because they fit the data well and they can be used to address important monetary policy questions. We provide a selective review of these developments. Policy analysis with DSGE models requires using data to assign numerical values to model parameters. The...

Persistent link: https://www.econbiz.de/10009002673

Real Output and Prices Adjustments under Different Exchange Rate Regimes

MIRDALA, Rajmund - In: Financial Aspects of Recent Trends in the Global Economy

Exchange rate regimes evolution in the European transition economies refers to one of the most crucial policy decision in the beginning of the 1990s employed during the initial stages of the transition process. During the period of last two decades we may identify some crucial milestones in the...

Persistent link: https://www.econbiz.de/10010674560