Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Download Measures Of The Output Gap In The Euro Zone full books in PDF, epub, and Kindle. Read online Measures Of The Output Gap In The Euro Zone ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Author : Odile Chagny
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (318 download)
Download or read book Measures of the Output Gap in the Euro-zone written by Odile Chagny and published by . This book was released on 2001 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Lucrezia Reichlin
Publisher : Centre for Economic Policy Research
ISBN 13 : 1898128839
Total Pages : 103 pages
Book Rating : 4.8/5 (981 download)
Download or read book The Euro Area Business Cycle written by Lucrezia Reichlin and published by Centre for Economic Policy Research. This book was released on 2004 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Pau Rabanal
Publisher : International Monetary Fund
ISBN 13 : 1513518607
Total Pages : 57 pages
Book Rating : 4.5/5 (135 download)
Download or read book Financial Factors written by Mr.Pau Rabanal and published by International Monetary Fund. This book was released on 2015-07-14 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: We suggest a new approach for analyzing the role of financial variables and shocks in computing the output gap. We estimate a two-region DSGE model for the euro area, with financial frictions at the household level, between 2000-2013. After joining the monetary union, a decline in some countries’ borrowing costs contributed to a credit, housing and real boom and bust cycle. We show that financial frictions amplified economic fluctuations and the measure of the output gap in those countries. On the contrary, in countries such as France and Germany, financial frictions played a minor role in output gap measures. We also present evidence of the trade-offs faced by the European Central Bank when trying to stabilize two regions in a currency union with unsynchronized economic cycles.
Author : Cecile Denis
Publisher :
ISBN 13 :
Total Pages : 89 pages
Book Rating : 4.:/5 (237 download)
Download or read book Production Function Approach to Calculating Potential Growth and Output Gaps written by Cecile Denis and published by . This book was released on 2002 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Manuel Gonzalez-Astudillo
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (14 download)
Download or read book An Output Gap Measure for the Euro Area written by Manuel Gonzalez-Astudillo and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Jiaqian Chen
Publisher : International Monetary Fund
ISBN 13 : 151352786X
Total Pages : 28 pages
Book Rating : 4.5/5 (135 download)
Download or read book Measuring Output Gap: Is It Worth Your Time? written by Mr.Jiaqian Chen and published by International Monetary Fund. This book was released on 2020-02-07 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: We apply a range of models to the U.K. data to obtain estimates of the output gap. A structural VAR with an appropriate identification strategy provides improved estimates of output gap with better real time properties and lower sensitivity to temporary shocks than the usual filtering techniques. It also produces smaller out-of-sample forecast errors for inflation. At the same time, however, our results suggest caution in basing policy decisions on output gap estimates.
Author :
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (534 download)
Download or read book The Reliability of Real Time Estimates of the Euro Area Output Gap written by and published by . This book was released on 2010 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides evidence on the reliability of euro area real-time output gap estimates, including those provided by the IMF, OECD and EC and a set of model based measures. A genuine real-time data set is used, including vintages of several sets of euro area output gap estimates available from 1999 to 2006. It turns out that real-time estimates of the output gap are characterised by a high degree of uncertainty, much higher than that resulting from model and estimation uncertainty only. In particular, the evidence indicates that both the magnitude and the sign of the real-time estimates of the euro area output gap are very uncertain. The uncertainty is mostly due to parameter instability, while data revisions seem to play a minor role. To benchmark our results, we repeat the analysis for the US over the same sample. It turns out that US real time estimates are much more correlated with final estimates than for the euro area, data revisions play a larger role, but overall the unreliability in real time of the US output gap measures detected in earlier studies is confirmed in the more recent period.
Author : Alberto Alesina
Publisher : University of Chicago Press
ISBN 13 : 0226012859
Total Pages : 477 pages
Book Rating : 4.2/5 (26 download)
Download or read book Europe and the Euro written by Alberto Alesina and published by University of Chicago Press. This book was released on 2010-04-15 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is rare for countries to give up their currencies and thus their ability to influence such critical aspects of their economies as interest and exchange rates. Yet ten years ago a number of European countries did exactly that when they adopted the euro. Despite some dissent, there were a number of arguments in favor of this policy change: it would facilitate exchange of goods, money, and people by decreasing costs; it would increase trade; and it would enhance efficiency and competitiveness at the international level. A decade is an ideal time frame over which to evaluate the success of the euro and whether it has lived up to expectations. To that aim, Europe and the Euro looks at a number of important issues, including the effects of the euro on reform of goods and labor markets; its influence on business cycles and trade among members; and whether the single currency has induced convergence or divergence in the economic performance of member countries. While adoption of the euro may not have met the expectations of its most optimistic proponents, the benefits have been many, and there is reason to believe that the euro is robust enough to survive recent economic shocks. This volume is an essential reference on the first ten years of the euro and the workings of a monetary union.
Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498308007
Total Pages : 114 pages
Book Rating : 4.4/5 (983 download)
Download or read book Euro Area Policies written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2014-07-14 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper assesses the youth unemployment problem in advanced European economies, especially the euro area. Youth unemployment rates increased sharply in the euro area after the crisis. Much of these increases can be explained by output dynamics and the greater sensitivity of youth unemployment to economic activity compared with adult unemployment. Labor market institutions also play an important role, especially the tax wedge, minimum wages, and spending on active labor market policies. The paper highlights that policies to address youth unemployment should be comprehensive and country specific, focusing on reviving growth and implementing structural reforms.
Author : Sven Langedijk
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.3/5 ( download)
Download or read book Testing the EU Fiscal Surveillance written by Sven Langedijk and published by . This book was released on 2007 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 : 9789279486968
Total Pages : 98 pages
Book Rating : 4.4/5 (869 download)
Download or read book An Assessment of the Relative Quality of the Output Gap Estimates Produced by the EU's Production Function Methodology written by and published by . This book was released on 2015 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : J. Ferreiro
Publisher : Springer
ISBN 13 : 0230228267
Total Pages : 235 pages
Book Rating : 4.2/5 (32 download)
Download or read book Fiscal Policy in the European Union written by J. Ferreiro and published by Springer. This book was released on 2008-11-27 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive analysis of national fiscal policies in the European Union and in the European Monetary Union. Adopting a critical perspective, the book offers a deep insight into the consequences of the current strategy of national fiscal policies on economic activity.
Author :
Publisher :
ISBN 13 : 9789279774416
Total Pages : pages
Book Rating : 4.7/5 (744 download)
Download or read book Output Gaps and Cyclical Indicators written by and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Questions have recently been raised on the usefulness of output gaps (which define the cyclical position of a country) for policymaking purposes. Whilst these questions are important in raising awareness concerning the uncertainty which inevitably surrounds an unobservable variable such as the output gap, we believe that the discussions are sometimes neglectful of the empirical evidence with respect to the performance of specific business cycle indicators. The current article therefore assesses the empirical performance of the most widely used business cycle indicators in output gap analysis, with a significant proportion of the recent criticism on the economic plausibility of output gaps drawing heavily on specific inflation indicators (such as headline or core inflation) or on indicators of external imbalances. The empirical evidence in this article shows that these inflation and external balance indicators do not perform well as indicators of the cycle and consequently should be used with caution by policy makers.
Author : Mr.Olivier J. Blanchard
Publisher : International Monetary Fund
ISBN 13 : 1513555839
Total Pages : 29 pages
Book Rating : 4.5/5 (135 download)
Download or read book Inflation and Activity – Two Explorations and their Monetary Policy Implications written by Mr.Olivier J. Blanchard and published by International Monetary Fund. This book was released on 2015-11-06 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore two issues triggered by the crisis. First, in most advanced countries, output remains far below the pre-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a breakdown of the relation between inflation and activity. To examine the first, we look at 122 recessions over the past 50 years in 23 countries. We find that a high proportion of them have been followed by lower output or even lower growth. To examine the second, we estimate a Phillips curve relation over the past 50 years for 20 countries. We find that the effect of unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since then. We draw implications of our findings for monetary policy.
Author : James Mitchell
Publisher :
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4.:/5 (849 download)
Download or read book Should We be Surprised by the Unreliability of Real-time Output Gap Estimates? Density Estimates for the Eurozone written by James Mitchell and published by . This book was released on 2003 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Troy Matheson
Publisher : International Monetary Fund
ISBN 13 : 148431106X
Total Pages : 12 pages
Book Rating : 4.4/5 (843 download)
Download or read book The Great Recession and the Inflation Puzzle written by Mr.Troy Matheson and published by International Monetary Fund. This book was released on 2013-05-22 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been remarkably stable. We find that a traditional Phillips curve describes the behavior of inflation reasonably well since the 1960s. Using a non-linear Kalman filter that allows for time-varying parameters, we find that three factors have contributed to the observed stability of inflation: inflation expectations have become better anchored and to a lower level; the slope of the Phillips curve has flattened; and the importance of import-price inflation has increased.
Author : Heikki Oksanen
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (115 download)
Download or read book New Output Gap Estimates for Assessing Fiscal Policy with Lessons for Euro Area Reform written by Heikki Oksanen and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Output gaps (OG) identify economic cycles and the cyclical and structural components in government budget balances. A new simple method for estimating OGs is presented here. The new results are more transparent than those published by the leading economic policy institutions. - The retroactive changes to the OGs as such do not indicate that they would have been incorrect. Instead, they naturally depend on what will happen afterwards, including changes in the fiscal and other policies conducted. - Fiscal policy in the euro area was tight in 2012-13, contributing to an unexpected fall in the GDP. Fiscal policy has generally amplified cycles in the euro area, except in 2009. - Procyclicality is caused by short-sighted fiscal discipline stemming from the mistrust among the member states. Policy reforms should focus on long-term sustainability and diminishing conflicts and mistrust. The numerous reform proposals should be assessed under two key criteria: (1) reducing mistrust across the members and (2) implementation without changes to the EU Treaty. Focussing on long-term sustainability meets them both.
