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Topic Monetary Policy

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541 results, from 481
  • Vierteljahrshefte zur Wirtschaftsforschung 2 / 2006

    Economic Forecasting and Monetary Policy

    The DIW is the largest and oldest economics institute in Germany and conducts research in many fields of economic analysis. In this contribution to the conference celebrating the 80th birthday of this important institution I feel stimulated to address a few analytical issues, raising questions rather than providing answers, and without necessarily limiting the reasoning to predefined frameworks. The ...

    2006| Lorenzo Bini Smaghi
  • Diskussionspapiere 615 / 2006

    Sticky Information Phillips Curves: European Evidence

    We estimate the sticky information Phillips curve model of Mankiw and Reis (2002) using survey expectations of professional forecasters from four major European economies. Our estimates imply that inflation expectations in France, Germany and the United Kingdom are updated about once a year, in Italy about once each six months.

    2006| Jörg Döpke, Jonas Dovern, Ulrich Fritsche, Jiri Slacalek
  • Diskussionspapiere 626 / 2006

    Political Instability and the August 1998 Ruble Crisis

    The main objective of this study is to highlight the importance of political instability, defined as frequent changes in and of government, in undermining the Russian exchange rate based stabilization program of the 1990s. The empirical evidence supports the significance of political instability along with economic fundamentals in determining Russian real effective exchange rate and exchange market ...

    2006| Tatiana Fic, Omar F. Saqib
  • Sonstige Publikationen des DIW / Monographien

    Analysis of Contemporary Budget Federalism Models Based on Economic and Social Effectiveness of Inter-Budgetary Relations: Theory, Experiences in OECD Countries, and Analysis for Russia

    2005| Ulrich Thießen
  • Externe Monographien

    Targeting Relative Inflation Forecast as Monetary Policy Framework for Adopting the Euro

    Ann Arbor, Mich.: William Davidson Inst., 2005, 26 S.
    (William Davidson Institute Working Paper ; 754)
    | Lucjan T. Orlowski
  • Refereed essays Web of Science

    Declining Output Volatility in Germany: Impulses, Propagation and the Role of Monetary Policy

    The decline in output volatility in Germany is analysed. A lower level of variance in an autoregressive model of output growth can be either due to a change in the structure of the economy (a change in the propagation mechanism) or a reduced error term variance (reduced impulses). In Germany the decline output volatility is due to a decline in the persistence of the growth process. This is in contrast ...

    In: Applied Economics 37 (2005), 21, S. 2445-2457 | Ulrich Fritsche, Vladimir Kuzin
  • Externe Monographien

    European Inflation Expectations Dynamics

    Frankfurt (Main): Deutsche Bundesbank, 2005, 46 S.
    (Discussion Paper Series 1 : Economic Studies ; 37/2005)
    | Jörg Döpke, Jonas Dovern, Ulrich Fritsche, Jiri Slacalek
  • Diskussionspapiere 397 / 2004

    Asymmetric Monetary Policy Effects in Germany

    In a small structural model we find asymmetries in the effects of monetary policy in Germany depending on whether the economy is in an upswing or a downswing. These two different regimes are also identified using a Markov-switching model and the Kalman filter. Our results indicate that the effects of monetary policy are significantly higher in a downswing than in an upswing. It follows not only that ...

    2004| Vladimir Kuzin, Silke Tober
  • Refereed essays Web of Science

    Assessing Leading Indicators for the EMU Area from a Practitioner's Perspective

    In this paper, the empirical relevance of the credit channel for the explanation of monetary policy transmission in Germany during the period from 1985 to 1998 is analyzed. While existing studies of the credit channel rely mostly on the analysis of monetary policy effects on balance sheet items, both quantities and financing costs are considered here. Using vector autoregressive models, impulse response ...

    In: Applied Economics Quarterly 49 (2003), 4, S. 339-358 | Ulrich Fritsche, Vladimir Kuzin, Felix Marklein
  • Diskussionspapiere 433 / 2004

    Declining Output Volatility in Germany: Impulses, Propagation, and the Role of Monetary Policy

    This paper investigates the effect of economic integration on the ability of firms to maintain a collusive understanding about staying out of each other's markets. The paper distinguishes among different types of trade costs: ad valorem, unit, fixed. It is shown that for a sufficient reduction of ad valorem trade costs, a cartel supported by collusion on either quantities or prices will be weakened, ...

    2004| Ulrich Fritsche, Vladimir Kuzin
541 results, from 481
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