Skip to content!

Search

clear
0 filter(s) selected
close
Go to page
remove add
534 results, from 11
  • Refereed essays Web of Science

    Global Risk and the Dollar

    The dollar is a safe-haven currency and appreciates when global risk goes up. We investigate the dollar’s role for the transmission of global risk to the world economy within a Bayesian proxy structural vector autoregressive model. We identify global risk shocks using high-frequency asset-price surprises around narratively selected events. Global risk shocks appreciate the dollar, induce tighter global ...

    In: Journal of Monetary Economics (2024), im Ersch. [online first: 2024-01-11] | Georgios Georgiadis, Gernot J. Müller, Ben Schumann
  • Vierteljahrshefte zur Wirtschaftsforschung 3 / 2023

    Will the Digital Euro Be Attractive Enough to Generate Significant Demand?

    Der Rückgang der Verwendung von Bargeld und das Aufkommen innovativer digitaler Zahlungssysteme haben die EZB wie viele andere Zentralbanken dazu veranlasst, die Einführung ihrer Währung in digitaler Form zu erwägen. Die technischen Probleme bei der Einführung eines digitalen Euro scheinen nicht unüberwindbar zu sein. Ein Thema, das jedoch weniger Beachtung gefunden hat, ist die Nachfrage nach einem ...

    2023| Michael Frenkel
  • DIW Weekly Report 10/11 / 2023

    DIW Berlin Economic Outlook: Global Economy Experiencing Robust Growth; Germany’s Recovery Is Delayed Further

    The German economy will likely contract in the first quarter of 2024 due to still heightened inflation and weak demand, which was already weighing on German economic output in 2023. Inflation, which is falling in both Germany and the euro area overall, is expected to return close to the European Central Bank's two-percent target, suggesting that a turnaround in interest rates can be expected in early ...

    2023| Timm Bönke, Guido Baldi, Hella Engerer, Pia Hüttl, Konstantin A. Kholodilin, Frederik Kurcz, Violetta Kuzmova-Anand, Theresa Neef, Laura Pagenhardt, Werner Roeger, Marie Rullière, Jan-Christopher Scherer, Teresa Schildmann, Ruben Staffa, Kristin Trautmann
  • Externe Monographien

    Monetary-fiscal interaction : Achieving the right monetary-fiscal policy mix in the euro area: In-Depth Analysis ; Requested by the ECON Committee

    Achieving a balanced monetary-fiscal policy mix in the euro area is crucial to ensure that monetary policy is able to fulfil its primary price stability objective. This paper outlines, from an economic and legal perspective, the interaction between monetary and fiscal policy in light of the current monetary and fiscal stance and, in particular, the “quasi-fiscal” effects of some unconventional monetary ...

    Bruxelles: European Parliament, 2023, 23 S.
    (Monetary Dialogue Papers ; September 2023)
    | Kerstin Bernoth, Sara Dietz, Rosa Lastra, Marie Rullière
  • Workshop

    “Next steps for HANK” Workshop

    22.05.2023| Florin Bilbiie, Maximilian Weiß, Federica Romei, Xavier Ragot, Leanne Nam, Alisdair McKay, Hannah Magdalena Seidl, Fabian Seyrich
  • Diskussionspapiere 2037 / 2023

    The Impacts of Global Risk and US Monetary Policy on US Dollar Exchange Rates and Excess Currency Returns

    We examine the causal relationship between US monetary policy shocks, exchange rates and currency excess returns for a sample of eight advanced countries over the period 1980M1 to 2022M11. We find that the dynamics of the US dollar exchange rate is the main driver of currency excess returns. The exchange rate is significantly affected by US monetary policy shocks, where the persistence of this shock ...

    2023| Kerstin Bernoth, Helmut Herwartz, Lasse Trienens
  • Refereed essays Web of Science

    Monetary Policy, External Instruments, and Heteroskedasticity

    We develop a structural vector autoregressive framework that combines external instruments and heteroskedasticity for identification of monetary policy shocks. We show that exploiting both types of information sharpens structural inference, allows testing the relevance and exogeneity condition for instruments separately using likelihood ratio tests, and facilitates the economic interpretation of the ...

    In: Quantitative Economics 14 (2023), 1, S. 161-200 | Thore Schlaak, Malte Rieth, Maximilian Podstawski
  • Cluster-Seminar Öffentliche Finanzen und Lebenslagen

    Subjective Belief Formation and Stock Market Participation in Germany.

    This paper investigates the unique ways in which individuals assimilate new information into their beliefs about stock returns and examines the consequences of heterogeneous information processing on savings and investment decisions. Utilizing two exogenous information treatments from 2017 and 2018 surveys of German households, I discover that individuals' short-term return expectations shift by...

    10.05.2023| Sebastian Becker
  • Refereed essays Web of Science

    The Multifaceted Impact of US Trade Policy on Financial Markets

    We study the multifaceted effects of trade policy shocks on financial markets using a structural vector autoregression identified via event day heteroskedasticity. We find that restrictive US trade policy shocks affect US and international stock prices heterogeneously, but generally negatively. They increase market uncertainty, lower US interest rates, and lead to an appreciation of the US dollar. ...

    In: Journal of Applied Econometrics 38 (2023), 3, S. 388-406 | Lukas Boer, Lukas Menkhoff, Malte Rieth
  • Refereed essays Web of Science

    Monetary Policy and Mispricing in Stock Markets

    We investigate the role of monetary policy in stock price misalignments and explore whether central banks can attenuate excessive mispricing as suggested by the proponents of a “leaning against the wind” monetary policy. Decomposing stock prices into expected excess dividends, an equity risk premium, and a mispricing component, we find that prices fall more strongly in response to an increase in the ...

    In: Journal of Money, Credit and Banking (2024) im Ersch. [Online first: 2023-09-25] | Kerstin Bernoth, Benjamin Beckers
534 results, from 11
keyboard_arrow_up