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Botelho, Vasco; Foroni, Claudia; Renzetti, Andrea - 2023

We propose a Bayesian VAR model with stochastic volatility and time varying skewness to estimate the degree of labour at risk in the euro area and in the United States. We model the asymmetry of the shocks to changes in the unemployment rate as a function of real activity and financial risk...

Persistent link: https://www.econbiz.de/10014352662

Cables, Sharks and Servers: Technology and the Geography of the Foreign Exchange Market

Eichengreen, Barry; Lafarguette, Romain; Mehl, Arnaud - 2016

We analyze the impact of technology on production and trade in services, focusing on the foreign exchange market. We …. Our estimates suggest that the second effect dominates. Technology dampens the impact of spatial frictions by up to 80 … percent and increases, in net terms, the share of offshore trading by 21 percentage points. Technology also has economically …

Persistent link: https://www.econbiz.de/10011605934

Digitalisation, Institutions and Governance, and Growth : Mechanisms and Evidence

Labhard, Vincent; Lehtimäki, Jonne - 2022

Digitalisation may be viewed as a sequence of supply and technology shocks aﬀecting the economy through productivity …

Persistent link: https://www.econbiz.de/10014076473

Climate Change Mitigation : How Effective is Green Quantitative Easing?

Abiry, Raphael; Ferdinandusse, M.; Ludwig, Alexander; … - 2022

We develop a two-sector incomplete markets integrated assessment model to analyze the effectiveness of green quantitative easing (QE) in complementing fiscal policies for climate change mitigation. We model green QE through an outstanding stock of private assets held by a monetary authority and...

Persistent link: https://www.econbiz.de/10014078974

Cross-Country Cross-Technology Digitalisation : A Bayesian Hierarchical Model Perspective

Hoffreumon, Charles; Labhard, Vincent - 2022

In this article, we present a new perspective on forecasting technology adoption, focused on the extensive margin of … the seminal model of technology diffusion. After motivating the new perspective and the choices of priors, we apply the … characteristics of countries and technologies matter for technology diffusion …

Persistent link: https://www.econbiz.de/10014078975

Central Bank Communication with the General Public : Promise or False Hope?

Blinder, Alan S.; Ehrmann, Michael; Haan, Jakob de; … - 2022

Central banks are increasingly reaching out to the general public to motivate and explain their monetary policy actions. One major aim of this outreach is to guide inflation expectations; another is to ensure accountability and create trust. This article surveys a rapidly-growing literature on...

Persistent link: https://www.econbiz.de/10014079351

Sovereign to Corporate Risk Spillovers

Augustin, Patrick - 2016

Using the announcement of the first Greek bailout on April 11, 2010, we quantify significant spillover effects from sovereign to corporate credit risk in Europe. A ten percent increase in sovereign credit risk raises corporate credit risk on average by 1.1 percent after the bailout. These...

Persistent link: https://www.econbiz.de/10013001180

Global Inflation : The Role of Food, Housing and Energy Prices

Parker, Miles - 2017

This paper studies the role of global factors in causing common movements in consumer price inflation, with particular focus on the food, housing and energy sub-indices. It uses a comprehensive dataset of 223 countries and territories collected from national and international sources. Global...

Persistent link: https://www.econbiz.de/10012962351

Trade, Finance or Policies : What Drives the Cross-Border Spill-Over of Business Cycles?

Montinari, Letizia - 2017

In this paper we investigate how income growth rates in one country are affected by growth rates in partner countries, testing for the importance of pairwise country links as well as characteristics of the receiving country (trade and financial openness, exchange rate regime, fiscal variables)....

Persistent link: https://www.econbiz.de/10012963941

Crisis Severity and the International Trade Network

Valentinyine Endresz, Marianna - 2017

In this paper we analyse the role of the international trade network for the strength of the global recession across countries. The novelty of our paper is the use of value-added trade data to capture the importance of trade network structure. We estimate with BMA techniques how far network...

Persistent link: https://www.econbiz.de/10012965544