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The Price Revolution in the 16th Century: Empirical Results from a Structural Vectorautoregression Model

Bernholz, Peter; Kugler, Peter - 2007

This paper provides empirical evidence in favor of the hypothesis that the secular price increase in the 16th century is mainly caused by money supply developments as the discovery of new mines in Latin America. First we review price developments for several European countries over the 16th...

Persistent link: https://www.econbiz.de/10011390624

Two exercises of inflation modelling and forecasting for Azerbaijan

Chubrik, Alexander; Hajiyeva, Gulnar; Woźniak, Przemysław - 2012

The paper proposes two econometric models of inflation for Azerbaijan: one based on monthly data and eclectic, another based on quarterly data and takes into account disequilibrium at the money market. Inflation regression based on monthly data showed that consumer prices dynamics is explained...

Persistent link: https://www.econbiz.de/10011430889

Money Demand Stability and Inflation Prediction in the Four Largest EMU Countries

Carstensen, Kai; Hagen, Jan; Hossfeld, Oliver; Salazar … - 2008

In this paper we analyze the money demand functions of the four largest EMU countriesand of the four-country (EMU-4) aggregate. We identify reasonable and stable moneydemand relationships for Germany, France and Spain as well as the EMU-4 aggregate.For the case of Italy, results are less clear....

Persistent link: https://www.econbiz.de/10010312123

Money demand stability and inflation prediction in the four largest EMU countries

Carstensen, Kai; Hagen, Jan; Hossfeld, Oliver; Salazar … - 2008

In this paper we analyze the money demand functions of the four largest EMU countries and of the four-country (EMU-4) aggregate. We identify reasonable and stable money demand relationships for Germany, France and Spain as well as the EMU-4 aggregate. For the case of Italy, results are less...

Persistent link: https://www.econbiz.de/10010263515

Analysing Divisia Aggregates for the Euro Area

Reimers, Hans-Eggert - 2002

es erhebliche Kontrollfehler. Zusammenfassend unterstützt die Studie die Auffassung, dass die Geldmenge eine wichtige … Rolle bei der Durchführung der Geldpolitik im Eurowährungsraum haben sollte. …

Persistent link: https://www.econbiz.de/10010295730

Money demand and macroeconomic uncertainty

Lemke, Wolfgang; Greiber, Claus - 2005

In this study we construct a measure of macroeconomic uncertainty from several observable economic indicators for the euro area. Indicator variables are based on financial market data, such as medium-term returns, loss and volatility measures but also come from surveys that capture business and...

Persistent link: https://www.econbiz.de/10010295771

Money and housing: evidence for the euro area and the US

Greiber, Claus; Setzer, Ralph - 2007

This paper examines the relation between money and housing variables in the euro area and in the US. Our empirical model is based on a standard money demand relation which is augmented by housing market variables. In doing so, co-integrated money demand relationships can be established for both...

Persistent link: https://www.econbiz.de/10010295851

Estimating the welfare costs of very high inflations and hyperinflations

Benati, Luca; Nicolini, Juan Pablo - 2024

We explore the welfare costs of inflation originating from lack of liquidity satiation for Weimar Republic's hyperinflation and three high-inflation countries. Towards the peak of Weimar's hyperinflation the costs are estimated to have been equal to nearly 20 per cent of income. For Israel,...

Persistent link: https://www.econbiz.de/10014494959

Transmissionsmechanismen der Geldpolitik

Baltensperger, Ernst (contributor) - 1999

inländischen Geldmenge orientierten Geldpolitik der Schweizerischen Nationalbank beeinflußt werden. -- Der Aufsatz von P. Bofinger …Die Autoren der Beiträge des Bandes befassen sich mit dem Transmissionsmechanismus in der Geldpolitik. Im Zentrum steht … von V. Clausen die Eigenschaften diskutiert, die eine Geldnachfrage in einem Regime der Geldmengensteuerung aufweisen …

Persistent link: https://www.econbiz.de/10014492661

Federal Reserve Policy viewed through a Money Supply Loss

Chowdhury, Ibrahim; Schabert, Andreas - 2008

Federal Reserve nonborrowed reserve supply systematically responded to changes in inflation and in the output gap over the period 1969-2000. While the feedback from output gap is always negative, the response of money supply to changes in inflation varies considerably across time. Nonborrowed...

Persistent link: https://www.econbiz.de/10010325981