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International effects of euro area versus US policy uncertainty : a FAVAR approach
Belke, Ansgar; Osowski, Thomas - 2017
prices, equity prices, and interest rates. Uncertainty shocks cause deeper recessions in Continental Europe (except Germany …) than in Anglo-Saxon countries. This pattern is compatible with the view that continental Europe still suffers from … Auswirkungen. In dieser Hinsicht erweist sich die Schweiz als das am stärksten betroffene Land in Europa außerhalb der Eurozone …
Persistent link: https://www.econbiz.de/10011640939
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International effects of euro area versus US policy uncertainty : a FAVAR approach
Belke, Ansgar; Osowski, Thomas - 2017
prices, equity prices and interest rates. Uncertainty shocks cause deeper recessions in Continental Europe (except Germany …) than in Anglo- Saxon countries. This pattern is compatible with the view that continental Europe still suffers from …
Persistent link: https://www.econbiz.de/10012110907
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International effects of euro area versus US policy uncertainty : a FAVAR approach
Belke, Ansgar; Osowski, Thomas - 2017
prices, equity prices and interest rates. Uncertainty shocks cause deeper recessions in Continental Europe (except Germany …) than in Anglo-Saxon countries. This pattern is compatible with the view that continental Europe still suffers from …
Persistent link: https://www.econbiz.de/10011691548
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Regional bank efficiency and its effect on regional growth in “normal” and “bad” times
Belke, Ansgar; Haskamp, Ulrich; Setzer, Ralph - 2015
The financial crisis affected regions in Europe in a different magnitude. This is why we examine whether regions which …Die Finanzkrise hat sich unterschiedlich stark auf Regionen in Europa ausgewirkt. Aus diesem Grund untersuchen wir, ob …
Persistent link: https://www.econbiz.de/10011381424
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Regional bank efficiency and its effect on regional growth in "normal" and "bad" times
Belke, Ansgar; Haskamp, Ulrich; Setzer, Ralph - 2015
The financial crisis affected regions in Europe in a different magnitude. This is why we examine whether regions which …
Persistent link: https://www.econbiz.de/10011443947
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State-of-play in implementing macroeconomic adjustment programmes in the euro area : conference paper
Gros, Daniel; Alcidi, Cinzia; Belke, Ansgar; Coutinho, … - 2014 - Manuscript completed in February 2014
Two of the four macroeconomic adjustment programmes, Portugal and Ireland s, can be considered a success in the sense that the initial expectations in terms of adjustment, both fiscal and external, were broadly fulfilled. A rebound based on exports has taken hold in these two countries, but a...
Persistent link: https://www.econbiz.de/10010484332
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Equilibrium real interest rates and secular stagnation : an empirical analysis for euro area member countries
Belke, Ansgar; Klose, Jens - 2016
Is secular stagnation a valid concern for Euro Area countries? We tackle this question using the well-established Laubach-Williams model to estimate the unobservable equilibrium real interest rate and compare it to the actual real rate. We apply our approach to twelve Euro Area countries, since...
Persistent link: https://www.econbiz.de/10011500118
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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 growth, a phenomenon known as secular stagnation? We tackle this question by estimating equilibrium real interest rates and comparing them to actual real rates. Since the...
Persistent link: https://www.econbiz.de/10012131206
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Safe haven flows, natural interest rates and secular stagnation : empirical evidence for euro area countries
Belke, Ansgar; Klose, Jens - 2019
This article introduces a new measure to capture safe haven flows for twelve Euro area countries. Since those flows are suspected to alter the natural rate of interest, which is at the heart of the discussion whether certain countries face a period of secular stagnation, we estimate the natural...
Persistent link: https://www.econbiz.de/10012134351
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QE in the euro area : has the PSPP benefited peripheral bonds?
Belke, Ansgar; Gros, Daniel - 2019
The asset purchase programme of the euro area, active between 2015 and 2018, constitutes an interesting special case of Quantitative Easing (QE) because the ECB’s Public Sector Purchase Programme (PSPP) involved the purchase of peripheral euro area government bonds, which were clearly not...
Persistent link: https://www.econbiz.de/10011994801