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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

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 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
Weitere Aufsätze

Der US-Amerikanische Arbeitsmarkt - Lehren für Deutschland?

In: KfW-Beiträge zur Mittelstands- und Strukturpolitik (1999), 9, S. 33-44 | Wolfgang Scheremet
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
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
Zeitungs- und Blogbeiträge

Der verlorene Aufschwung

In: Handelsblatt (20.09.2002) | Gustav A. Horn
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
Weitere Aufsätze

Ursachen von Inflationsdifferenzen im Euroraum

In: WSI-Mitteilungen 58 (2005), 12, S. 700-706 | Kirsten Lommatzsch
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