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Testing Long-run Neutrality: Empirical Evidence for G7 Countries with Special Emphasis on Germany
Weber, Axel A - C.E.P.R. Discussion Papers - 1994
consistent with the long-run neutrality of money and the vertical Phillips curve, but the data largely refute the long-run super-neutrality … incorporate long-run or short-run neutrality propositions. Despite their importance, little firm international evidence on the … validity of these neutrality hypotheses is available to date. This paper applies a bivariate VAR approach to test the long …
Persistent link: https://www.econbiz.de/10005666523
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Testing long-run neutrality : empirical evidence for G7-countries with special emphasis on Germany ; paper prepared for the Carnegie-Rochester Conference Series on Public Policy, F...
Weber, Axel A. - Carnegie Rochester Conference on Public Policy - 1993
incorporate certain long-run or even short-run neutrality propositions. Given the importance of these neutrality propositions, it … empirically analysing long-run neutrality propositions was not available. King and Watson (1992) and Fisher and Seater (1993 …
Persistent link: https://www.econbiz.de/10011614244
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Superneutrality of Money under Open Market Operations
Homburg, Stefan - 2015
Monetary policy is superneutral in an overlapping generations model. Previous authors have argued that superneutrality …
Persistent link: https://www.econbiz.de/10010500381
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Superneutrality of money under open market operations
Homburg, Stefan - 2015
Monetary policy is superneutral in an overlapping generations model. Previous authors have argued that superneutrality …
Persistent link: https://www.econbiz.de/10010483593
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Superneutrality of Money under Open Market Operations
Homburg, Stefan - CESifo - 2015
Monetary policy is superneutral in an overlapping generations model. Previous authors have argued that superneutrality …
Persistent link: https://www.econbiz.de/10011185625
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Superneutrality of Money under Open Market Operations
Homburg, Stefan - Wirtschaftswissenschaftliche Fakultät, Leibniz … - 2015
Monetary policy is superneutral in an overlapping generations model. Previous authors have argued that superneutrality …
Persistent link: https://www.econbiz.de/10011122485
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Asymptotic confidence bands for the estimated autocovariance and autocorrelation functions of vector autoregressive models
Coenen, Günter - 2000
This paper provides closed-form formulae for computing the asymptotic standard errors of the estimated autocovariance and autocorrelation functions for stable VAR models by means of the d-method. These standard errors can be used to construct asymptotic confidence bands for the estimated...
Persistent link: https://www.econbiz.de/10011604055
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Crédito, Exceso de Toma de Riesgo, Costo del Crédito y Ciclo Económico en Chile
Garcia, Carlos; Sagner, Andrés - ILADES, Facultad de Economía y Negocios - 2011
This paper studies the interaction between the business cycle and the credit market. A first result is that the business cycle has procyclical effects on different types of credit (i.e., consumer, commercial and mortgage loans). The results area obtained through the identification of structural...
Persistent link: https://www.econbiz.de/10010553255
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A VAR Model for Monetary Policy Analysis in a Small Open Economy
Jacobson, Tor; Jansson, Per; Vredin, Anders; Warne, Anders - 1999
The interest in empirical studies of monetary policy has increased in the last decade. The deregulation of financial markets and the increased use of explicit policy rules and targets have made monetary policy more transparent and interesting for economic analysis. This paper demonstrates how a...
Persistent link: https://www.econbiz.de/10010321304
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Inflation dynamics : expectations, structural breaks and global factors
Siklos, Pierre L. - In: Review of Economic Analysis : REA 12 (2020) 2, pp. 203-233
There is no consensus over the importance of "global forces" on inflation. This study explores the role of structural breaks in the inflation process, and their timing, whether it is common across countries, and the extent to which "global forces" are relevant. Three conclusions stand out....
Persistent link: https://www.econbiz.de/10012269197