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372 results, from 351
Externe referierte Aufsätze

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

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

2004| Ulrich Fritsche, Vladimir Kuzin

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
Diskussionspapiere 571 / 2006

The Dynamics of European Inflation Expectations

We investigate the relevance of the Carroll's sticky information model of inflation expectations for four major European economies (France, Germany, Italy and the United Kingdom). Using survey data on household and expert inflation expectations we argue that the model adequately captures the dynamics of household inflation expectations. We estimate two alternative parametrizations of the sticky

2006| Jörg Döpke, Jonas Dovern, Ulrich Fritsche, Jiri Slacalek
Externe referierte Aufsätze

Consumption and Disposable Income in the EU Countries: The Role of Wealth Effects

In: Empirica 33 (2006), 4, S. 245-254 | Hans-Eggert Reimers, Christian Dreger
Externe referierte Aufsätze

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

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

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 667 / 2007

Unit Labor Cost Growth Differentials in the Euro Area, Germany, and the US: Lessons from PANIC and Cluster Analysis

Inflation differentials in the Euro area are mainly due to a sustained divergence of wage developments across the Euro area, and narrower differences in labour productivity growth (Alvarez et al., 2006). We investigate convergence of inflation using unit labour cost (ULC) growth and applying PANIC (Bai and Ng, 2004) and cluster procedures (Hobijn and Franses, 2000, Busetti et al., 2006) to Euro

2007| Ulrich Fritsche, Vladimir Kuzin
Diskussionspapiere 674 / 2007

Does the Dispersion of Unit Labor Cost Dynamics in the EMU Imply Long-Run Divergence? Results from a Comparison with the United States of America and Germany

Using unit labor cost (ULC) data from Euro area countries as well as US States and German Länder we investigate inflation convergence using different approaches, namely panel unit root tests, co-integration tests and error-correction models. All in all we cannot reject convergence of ULC growth in EMU, however, country-specific deviations from the rest of the currency union are more pronounced in

2007| Sebastian Dullien, Ulrich Fritsche
Diskussionspapiere 1082 / 2010

Reinforcing EU Governance in Times of Crisis: The Commission Proposals and Beyond

The recent extensive package introduced by the Commission is the "most comprehensive reinforcement of economic governance in the EU and the euro area since the launch of the Economic and Monetary Union. Broader and enhanced surveillance of fiscal policies, but also macroeconomic policies and structural reforms are sought in the light of the shortcomings of the existing legislation. New enforcement

2010| Ansgar Belke
372 results, from 351