Browsing Working Papers by Subject "E31"

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Browsing Working Papers by Subject "E31"

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    Title: The Forecasting Performance of Real Time Estimates of the EURO Area Output Gap  Author(s): MARCELLINO, Massimiliano; MUSSO, Alberto Date: 2010 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: This paper provides real time evidence on the usefulness of the euro area output gap as a leading indicator for inflation and growth. A genuine real-time data set for the euro area is used, including vintages of several ...
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    Title: The Reliability of Real Time Estimates of the EURO Area Output Gap  Author(s): MARCELLINO, Massimiliano; MUSSO, Alberto Date: 2010 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: 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 ...
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    Title: Monetary Policy and Mismeasured Inflation  Author(s): WEBER, Henning Date: 2009 Type of Publication: Working Paper Series/Report no.: EUI RSCAS Abstract: I examine the standard New Keynesian model augmented with product entry and exit. The statistical agency in the model measures product entry with a delay. Consequently, measured in ation departs from true, utility-based ...
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    Title: A Modern Reconsideration of the Theory of Optimal Currency Areas  Author(s): CORSETTI, Giancarlo Date: 2008 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: What can be learnt from revisiting the Optimal Currency Areas (OCA) theory 50 years from its birth, in light of recent advances in open economy macro and monetary theory? This paper presents a stylized micro-founded model ...
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    Title: Does One Currency Mean One Price?  Author(s): WOLSZCZAK-DERLACZ, Joanna Date: 2008 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: European Monetary Union was expected to have many consequences for the economies of participant countries. Theory suggested that through a higher volume of trade and stronger competition in the Eurozone, a single currency ...
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    Title: Deep Habits and the Dynamic Effects of Monetary Policy Shocks  Author(s): RAVN, Morten O.; SCHMITT-GROHE, Stephanie; URIBE, Martin; UUSKULA, Lenno Date: 2008 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: This paper introduces deep habits into a sticky-price sticky-wage economy and asks whether the countercyclical markup movements induced by deep habits is helpful for accounting for the dynamic effects of monetary policy ...