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that such disturbances are important drivers of output fluctuations in both economies, we find the shock responses of …
Persistent link: https://www.econbiz.de/10011897983
We estimate a global vector autoregression model to examine the effects of euro area and US monetary policy stances, together with the effect of euro area consumer prices, on economic activity and prices in non-euro EU countries using monthly data from 2001-2016. Along with some standard...
Persistent link: https://www.econbiz.de/10011729621
Persistent link: https://www.econbiz.de/10001613376
Persistent link: https://www.econbiz.de/10002554857
This paper estimates a DSGE model with many types of shocks and frictions for both the US and the euro area economy over a common sample period (1974-2002). The structural estimation methodology allows us to investigate whether differences in business cycle behaviour are due to differences in...
Persistent link: https://www.econbiz.de/10013137108
Die Grundthese dieses Artikels lautet, daß kurzfristig auftretende Veränderungen der amerikanischen Geldpolitik … Geldpolitik zwang. Der Autor überprüft seine These in bezug auf die wirtschaftliche Integration innerhalb der EU, indem er vier … Perioden analysiert, in denen die USA durch ihre Politik zur Stabilisierung der internationalen Geldmärkte beitrugen, und …
Persistent link: https://www.econbiz.de/10015134649
The paper provides a systematic empirical analysis of the role of the housing market in the macroeconomy in the US and in the euro area. First, it establishes some stylised facts concerning key variables in the housing market, such as the real house price, residential investment and mortgage...
Persistent link: https://www.econbiz.de/10003971203
intermediation turns an otherwise diversifiable source of idiosyncratic economic uncertainty, the 'risk shock', into a systemic force …
Persistent link: https://www.econbiz.de/10003973320
We quantify spillovers of inflation expectations between the United States (US) and Euro Area (EA) based on break-even inflation (BEI) rates. In contrast to previous studies, we model US and EA BEI rates jointly in a structural vector autoregressive (SVAR) model. The SVAR approach allows to...
Persistent link: https://www.econbiz.de/10010255370