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Technology Shocks and Monetary policy: Assessing the Fed's Performance
Galí, Jordi; López-Salido, David; Vallés, Javier - Banco de España - 2000
and its implications for US output, hours and inflation. Second we evaluate the extent to which that responses can be …
Persistent link: https://www.econbiz.de/10005590706
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A Switching-Regime Model for the Spanish Inflation: 1962-1997
Ayuso, Juan; Kaminsky, Graciela L.; López-Salido, David - Banco de España - 1998
During the 1970s and early 1980s, Spain suffered high rates of inflation but inflation declined and by 1997 inflation … had fallen to approximately 2 percent. To fight inflation, Spain implemented austere monetary programs, joined the EMS in … 1989, enacted central bank autonomy in 1994, and introduced inflation targets in January 1995. Certainly, these and other …
Persistent link: https://www.econbiz.de/10005155248
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The Retreat of Inflation and the Making of Monetary Policy: Where Do We Stand?
Viñals, José - Banco de España - 1998
Political Science on June 4th. It starts by asking what factors have been behind the remarkable retreat of inflation that has …
Persistent link: https://www.econbiz.de/10005022254
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Resurrecting the role of real money balance effects
Dorich, José - 2009
inflation and output dynamics in the United States. In particular, I find that real money balance effects are quantitatively …
Persistent link: https://www.econbiz.de/10003933293
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Contrastes de raíces unitarias, para series mensuales. Una aplicación al IPC
Matea, María de los Llanos - Banco de España - 1992
This working paper details unit root tests for monthly series, with the possibility of the stationary part having been generated by an ARMA process. The paper is complemented by an application to the four basic stochastic components of the consumer price index. Test evidences that the long-run...
Persistent link: https://www.econbiz.de/10008520561
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Métodos para la extracción de señales y para la trimestralización
Matea, María de los Llanos; Regil, Ana Valentina - Banco de España - 1994
Using interpolation of the Spanish domestic private consumption deflactor, we review some of the signals extraction techniques, as well as interpolation of time series, i.e. deriving quarterly data from annual data. For the decomposition of a series in its observable components (trend plus...
Persistent link: https://www.econbiz.de/10008520563
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Decomposing U.S. Nominal Interest Rates into Expected Inflation and Ex Ante Real Interest rates Using Structural VAR Methodology.
St-Amant, P. - Bank of Canada - 1996
into an expected inflation component and an ex ante real interest rate component. …
Persistent link: https://www.econbiz.de/10005673349
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Unobserved Components in Economic Time Series.
Maravall, Agustín - Banco de España - 1996
The paper contains some implications for applied econometric research. Two important ones are, first, that invertible models, such as AR or VAR models, cannot in general be used to model seasonally adjusted or detrended data. The second one is that to look at the business cycle in detrended...
Persistent link: https://www.econbiz.de/10005155211
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Efficient Estimation of Cointegrating Relationships Among Higher Order and Fractionally Integrated Processes.
Dolado, Juan J.; Mármol, Francisco - Banco de España - 1996
In this paper we address the issue of the efficient estimation of the cointegrating vector in linear regression models with variables that follow general (higher order and fractionally) integrated processes.
Persistent link: https://www.econbiz.de/10005088308
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Missing Observations and Additive Outliers in Time Series Models.
Maravall, Agustín; Peña, Daniel - Banco de España - 1996
The paper deals with estimation of missing observations in possibly nonstationary ARIMA models. First, the model is assumed known, and the structure of the interpolation filter is analysed. Using the inverse or dual autocorrelation function it is seen how estimation of a missing observation is...
Persistent link: https://www.econbiz.de/10005022239