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Money demand and the role of monetary indicators in forecasting euro area inflation

Dreger, Christian; Wolters, Jürgen - 2013

This paper examines the stability of money demand and the forecasting performance of a broad monetary aggregate (M3) in predicting euro area inflation. Excess liquidity is measured as the difference between the actual money stock and its fundamental value, the latter determined by a money demand...

Persistent link: https://www.econbiz.de/10011374304

Does the economic integration of China affect growth and inflation in industrial countries?

Dreger, Christian; Zhang, Yanqun - 2013

The Chinese economic development affects GDP growth and inflation in the advanced countries. A GVAR approach is used to model the interdependencies between the business cycles in China and industrial countries, including the US, the euro area and Japan. For robustness, the results are compared...

Persistent link: https://www.econbiz.de/10011374308

Did interest rates at the zero lower bound affect lending of commercial banks? : evidence for the euro area

Belke, Ansgar; Dreger, Christian - 2019

The paper examines the bank lending activities of banks in a low interest rate environment. External financing of small- and medium-sized enterprises in the euro area primarily takes place via bank loans and not through capital markets. Based on the Bankscope database, bank balance sheet data is...

Persistent link: https://www.econbiz.de/10012063954

Long term growth perspectives in Japan and the euro area

Dreger, Christian - 2017

Euro area countries and Japan are confronted with similar challenges. Potential output is on a falling trend in the euro area, and the decrease started well before the financial crisis. In Japan, low output growth is a striking feature since many years, despite the unconventional monetary policy...

Persistent link: https://www.econbiz.de/10011639038

Re-vitalizing money demand in the euro area : still valid at the zero lower bound

Dreger, Christian; Gerdesmeier, Dieter; Roffia, Barbara - 2016

The analysis of monetary developments have always been a cornerstone of the ECB’s monetaryanalysis and, thus, of its overall monetary policy strategy. In this respect, money demandmodels provide a framework for explaining monetary developments and assessing price stabilityover the medium term....

Persistent link: https://www.econbiz.de/10011532681

Determinants of Chinese direct investments in the European Union

Dreger, Christian; Schüler-Zhou, Yun; Schüller, Margot - 2015

This paper analyses the determinants of Chinese direct investment (DI) in the European Union (EU). Evidence is based on … with China are the primary factors driving Chinese DI in the EU. In contrast, more business-friendly institutions do not … dispersion of Chinese DI in the EU has not changed much since the global financial crisis of 2008. Most relevant shifts have …

Persistent link: https://www.econbiz.de/10010519822