Monetary and real shocks, the business cycle and the value of the euro
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Monetary and real shocks, the business cycle and the value of the euro

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Published by Bank for International Settlements in Basel, Switzerland .
Written in English

Subjects:

  • Foreign exchange rates -- Econometric models.,
  • Business cycles -- Econometric models.,
  • Euro.

Book details:

Edition Notes

Statementby Renato Filosa.
SeriesBIS working papers,, no. 154, BIS working papers (Online) ;, no. 154.
ContributionsBank for International Settlements. Monetary and Economic Dept.
Classifications
LC ClassificationsHG3879
The Physical Object
FormatElectronic resource
ID Numbers
Open LibraryOL3389879M
LC Control Number2004616578

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Download Citation | Monetary and Real Shocks, the Business Cycle and the Value of the Euro | I modify the uniform-price auction rules in allowing the seller to ration bidders. This allows me to. Shock monetari e reali, ciclo economico e valore dell’euro (Monetary and Real Shocks, the Business Cycle and the Value of the Euro) The appreciation of the dollar in the aftermath of the euro launch came as a surprise to most observers; furthermore, the traditional models fail to capture its : Renato Filosa. Shock monetari e reali, ciclo economico e valore dell’euro (Monetary and Real Shocks, the Business Cycle and the Value of the Euro) By Renato Filosa. Finally, the model shows that monetary shocks have limited effects on the exchange rate and very strong effects on inflation. This justifies the emphasis placed by central banks on the Author: Renato Filosa.   This paper investigates to what extent the level of European uncertainty influences the effectiveness of conventional monetary policy shocks in the Euro area. Our nonlinear VAR model suggests that both the peak and the 5-year cumulative real effects of monetary policy shocks are lower during uncertain times than during tranquil times.

  Germany’s large manufacturing sector has done poorly during As a result, many are calling for fiscal stimulus: Germany is the economic engine of Europe — and it’s running on fumes. After a decade of near-constant expansion, the economy is flirting with recession. Germany’s export-dependent companies are deeply exposed to fallout from rumbling trade disputes, [ ]. real rate or in the value of the collateral. Second, shocks in the banking sector explain the largest fraction of the fall output in in the euro area while macroeconomic shocks played a smaller role. Finally, shocks to credit supply can have substantial efiects on 3.   The aim of this paper is to analyze how aggregate activity in Lebanon fluctuates with regard to recurrent shocks. The research starts by identifying the Lebanese economic business cycle from the first quarter of to the fourth quarter of adopting a statistical method. Furthermore, this research studies the relationship between the capacity utilization rate and the inflation rate to. The Real Business Cycle Model Karl Whelan School of Economics, UCD Spring which lead to real e ects for monetary policy. Karl Whelan (UCD) Real Business Cycles Spring 6 / De ne the marginal value of an additional unit of capital next year as R t+1 = Y t+1 K t.

A well-established causal relationship between the monetary and financial cycles with the business cycle is provided by Andrian et al. (). In that paper, the link of a flatter term spread with. Monetary business cycle (MBC) models are general equilibrium models designed to analyse how monetary shocks affect output, prices, and interest rates. This article describes the analytic framework underlying sticky prices and wages in modern MBC models, and highlights the prominent role that these rigidities play in the transmission of nominal. Jean-Pierre Danthine, John B Donaldson, in Intermediate Financial Theory (Third Edition), Financial Intermediation and the Business Cycle. Business cycles are the mark of all developed economies. According to much of current research, they are in part the result of external shocks with which these economies are repeatedly confronted. Forder, James Interests and 'Independence': The European Central Bank and the theory of bureaucracy. International Review of Applied Economics, Vol. 16, Issue. 1, p. Allsopp, Christopher and Watt, Andrew Trouble with EMU: fiscal policy and its implications for inter-country.