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Quantifying the Effect of Financial Conditions in the Euro Area, Japan, United Kingdom and United States

Guichard, Stéphanie - 2009

This paper constructs a broad measure of financial conditions for the United States, Japan, the Euro Area and the United Kingdom, by extending monetary condition indices which are traditionally used to gauge the impact of monetary policy on the economy. In addition to changes in the exchange...

Persistent link: https://www.econbiz.de/10012445932

Evolution of the ECB's analytical framework

Holm-Hadulla, Fédéric; Musso, Alberto; Rodriguez … - 2021

This paper discusses the role of economic and monetary analysis in the monetary policy strategy of the European Central Bank (ECB). Both areas of analysis have evolved since the 2003 strategy review. Economic analysis has assigned an increasingly relevant role to the Eurosystem and ECB staff...

Persistent link: https://www.econbiz.de/10012650792

Evolution of the Ecb's Analytical Framework

Holm-Hadulla, Fédéric; Musso, Alberto; Vlassopoulos, … - 2021

Persistent link: https://www.econbiz.de/10013210828

Aftershocks of Monetary Unification : Hysteresis with a Financial Twist

Bayoumi, Tamim A. - 2017

we interpret as reflecting hysteresis with a financial twist, in which the financial system causes aggregate supply and …

Persistent link: https://www.econbiz.de/10012957841

Hysteresis and NAIRU in the Euro area

Logeay, Camille; Tober, Silke - 2005 - This version: July 2005

This paper analyses the Nairu in the Euro Area and the influence that hysteresis had on its development. Using the … is applied here using explicit exogenous variables. In order to test for hysteresis, the dependence of the Nairu on … respectively. The existence of hysteresis effects implies the possibility of a long-run non-superneutrality of monetary policy. …

Persistent link: https://www.econbiz.de/10003744523

The Euro Area 12 : a comparative assessment of its member states in the period 1998-2022

Santos, Bruna; Costa, Leonardo; Oliveira, Francisca … - In: Economies : open access journal 12 (2024) 4, pp. 1-22

of hysteresis. To achieve these objectives, a novel approach is employed, which integrates the analysis of both growth … potential output or capacity of the EA-12 MS, thereby supporting the existence of hysteresis. However, the impacts appear to be …

Persistent link: https://www.econbiz.de/10014635944

Has integration promoted business cycle synchronization in the enlarged EU?

Antonakakis, Nikolaos; Tondl, Gabriele - 2011

Persistent link: https://www.econbiz.de/10009559393

Has integration promoted business cycle synchronization in the enlarged EU?

Antonakakis, Nikolaos; Tondl, Gabriele - 2011

This paper examines whether European integration, manifesting itself in increased trade and FDI linkages, new specializations and economic policy coordination, contributed to the synchronization of business cycles in the enlarged EU. We estimate the effects on bilateral growth rate correlations...

Persistent link: https://www.econbiz.de/10011346443

One Money, Many Markets : Monetary Transmission and Housing Financing in the Euro Area

Corsetti, Giancarlo - 2020

We study the transmission of monetary shocks across euro-area countries using a dynamic factor model and high-frequency identification. We develop a methodology to assess the degree of heterogeneity, which we find to be low in financial variables and output, but significant in consumption,...

Persistent link: https://www.econbiz.de/10012828237

Business Cycle Convergence or Decoupling? Economic Adjustment in CESEE During the Crisis

Gächter, Martin - 2014

We analyze business cycle convergence in the EU by focusing on the decoupling vs. convergence hypothesis for central, eastern and south eastern Europe (CESEE). In a nutshell, we fnd that business cycles in CESEE have decoupled considerably from the euro area (EA) during the financial crisis in...

Persistent link: https://www.econbiz.de/10013064345