Showing 1 - 10 of 135
Persistent link: https://www.econbiz.de/10000146655
This paper proposes a new framework for studying the effects of monetary policy on business investment. Important ambiguities with the modeling of investment dynamics and interactions between real and financial decisions suggest modeling investment spending as a VAR. Based on a panel of...
Persistent link: https://www.econbiz.de/10001754721
Persistent link: https://www.econbiz.de/10001637070
We present a comparable set of results on the monetary transmission channels on firm investment for the four largest euro-area countries (Germany, France, Italy and Spain). With particularly rich micro datasets for each country containing over 215,000 observations from 1985 to 1999, we ex-plore...
Persistent link: https://www.econbiz.de/10013134959
This paper proposes a new framework for studying the effects of monetary policy on business investment. Important ambiguities with the modeling of investment dynamics and interactions between real and financial decisions suggest modeling investment spending as a VAR. Based on a panel of...
Persistent link: https://www.econbiz.de/10011432001
Persistent link: https://www.econbiz.de/10012991241
Persistent link: https://www.econbiz.de/10012991290
Persistent link: https://www.econbiz.de/10012991291
We estimate forward-looking interest rate reaction functions in the spirit of Taylor (1993) for four major central banks augmented by implicit volatilities of stock market indices to proxy financial market stress. Our results suggest that the Bank of England, the Federal Reserve Bank and the...
Persistent link: https://www.econbiz.de/10010984714
We tackle two questions in this paper: In the sovereign debt crisis, what moves the euro area inflation outlook and has the firm anchoring of medium to long-term inflation expectations been touched? Deriving densities from a new data set on options on the euro area harmonized index of consumer...
Persistent link: https://www.econbiz.de/10010957128