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How Phillips curve dynamics enhance business cycle synchronization analysis in Central and Eastern Europe

Petz, Nico; Zörner, Thomas - 2025

CESEE EU countries align more closely with the euro area than non-EU countries. The unemployment-inflation relationship …

Persistent link: https://www.econbiz.de/10015402052

Developing country business cycles : revisiting the stylised facts

Male, Rachel - 2010

Identifying business cycle stylised facts is essential as these often form the basis for the construction and validation of theoretical business cycle models. Furthermore, understanding the cyclical patterns in economic activity, and their causes, is important to the decisions of both...

Persistent link: https://www.econbiz.de/10003990420

Nominal rigidities in debt and product markets

Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2016

Standard models used for monetary policy analysis rely on sticky prices. Recently, the literature started to explore also nominal debt contracts. Focusing on mortgages, this paper compares the two channels of transmission within a common framework. The sticky price channel is dominant when...

Persistent link: https://www.econbiz.de/10011539811

Nominal rigidities in debt and product markets

Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2016

Persistent link: https://www.econbiz.de/10011524379

UK term structure decompositions at the zero lower bound

Carriero, Andrea; Mouabbi, Sarah; Vangelista, Elisabetta - 2015

inflation expectations and risk premia. This entails jointly pricing and decomposing nominal and real UK yields. We find … evidence that medium- and long-term inflation expectations are contained within narrower bounds since the early 1990s …, suggesting monetary policy credibility improved after the introduction of inflation targeting. …

Persistent link: https://www.econbiz.de/10011339919

Monetary policy surprises and their transmission through term premia and expected interest rates

Kaminska, Iryna; Mumtaz, Haroon; Šustek, Roman - 2020

Monetary policy moves the yield curve. How much is due to expected interest rates vs. term premia? And does it matter for macroeconomic outcomes? Using an affine term structure model, we shed new light on these questions. Estimation is subject to restrictions addressing an estimation bias in...

Persistent link: https://www.econbiz.de/10012316011

Monetary/fiscal interactions with forty budget constraints

Bassetto, Marco; Caracciolo, Gherardo Gennaro - 2021

Persistent link: https://www.econbiz.de/10012693458

The evolution of the natural rate of interest : evidence from the Scandinavian countries

Armelius, Hanna; Solberger, Martin; Spånberg, Erik; … - 2023

In this paper, the natural rate of interest in Denmark, Norway and Sweden are estimated. This is done by augmenting the Laubach and Williams (2003) framework with a dynamic factor model linked to economic indicators - a modelling choice which allows us to better identify business cycle...

Persistent link: https://www.econbiz.de/10014252436

Hawks vs. Doves : ECB's monetary policy in light of the Fed's policy stance

Hauzenberger, Niko; Huber, Florian; Zörner, Thomas - 2023

quantities such as government bond yields and inflation swaps to euro area monetary policy shocks change with the US policy …

Persistent link: https://www.econbiz.de/10014445207

Lessons for the European Central Bank from the 2021-2023 inflationary episode

Hernández de Cos, Pablo - 2025

Since mid-2021, the euro-area economy has gone through several shocks, leading to the highest inflation since the … monetary policy framework it agreed in 2021 ahead of the inflationary episode, has succeeded in bringing inflation down and … understanding the roles of different measures of inflation expectations should also be priorities. …

Persistent link: https://www.econbiz.de/10015406655