The purpose of this study is to examine the effectiveness of monetary policy actions in affecting the interest rate term structure. As a first approach, variations of the interest rate term structure in dates following a change in monetary policy stance are presented for the years 1998, 1999 and...

Two dynamic sticky price models with monopolistic competition in the goods market are presented. In the first model, each intermediate goods producer faces quadratic costs of adjusting its nominal price as introduced by Rotemberg (1982); the second model incorporates staggered price setting as...

Im folgenden soll versucht werden, empirische Evidenz zum Transmissionsmechanismus mit Hilfe monetärer Schocks zu generieren. Die quantitativen Auswirkungen der monetären Impulse werden mit Hilfe von Impuls-Antwort-Funktionen beschrieben, wobei die Impuls- Antwort-Funktionen auf einem VAR...

This paper aims to analyze the linkages between international stock markets and to search for an optimum model for analyzing their interactions taking into consideration their geographical location, using the vector fractionally integrated autoregressive moving-average (VARFIMA) model. This...

The Fisher Effect postulated that real interest rate is constant, and that nominal interest rate and expected inflation move one-for-one together. This paper employs Johansen's method to investigate for the existence of a long-run Fisher effect in the Singapore economy over the period 1976 to...

A common assumption for data analysis in functional magnetic resonance imaging is that the response signal can be modelled as the convolution of a haemodynamic response (HDR) kernel with a stimulus reference function. Early approaches modelled spatially constant HDR kernels, but more recently...