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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/18170Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.creator | Fritsche, Ulrich | - |
| dc.creator | Kuzin, Vladimir N. | - |
| dc.date | 2004 | - |
| dc.date.accessioned | 2013-10-16T06:58:34Z | - |
| dc.date.available | 2013-10-16T06:58:34Z | - |
| dc.date.issued | 2013-10-16 | - |
| dc.identifier | http://hdl.handle.net/10419/18170 | - |
| dc.identifier | ppn:39096123X | - |
| dc.identifier.uri | http://koha.mediu.edu.my:8181/xmlui/handle/10419/18170 | - |
| dc.description | We analyse the decline in output volatility in Germany. 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 contrast to the U.S. results. The structural change is more of a gradual nature than a sudden break. The evolution of Germany's short-term real interest rate volatility coincides with the change of the autoregressive parameter. A change in the conduct of monetary policy (the establishment of another monetary policy regime) could be part of an explanation for the change in propagation. Stochastic simulations with a New Keynesian DSGE model support our hypothesis. | - |
| dc.language | eng | - |
| dc.publisher | Deutsches Institut für Wirtschaftsforschung (DIW) Berlin | - |
| dc.relation | DIW-Diskussionspapiere 433 | - |
| dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | - |
| dc.subject | E32 | - |
| dc.subject | C51 | - |
| dc.subject | C22 | - |
| dc.subject | ddc:330 | - |
| dc.subject | Output | - |
| dc.subject | Volatility | - |
| dc.subject | Monetary Policy | - |
| dc.subject | Markov Switching Model | - |
| dc.subject | State Space Model | - |
| dc.subject | Spectral Analysis | - |
| dc.subject | DSGE model | - |
| dc.subject | Konjunktur | - |
| dc.subject | Volatilität | - |
| dc.subject | Wirtschaftswachstum | - |
| dc.subject | Hysteresis | - |
| dc.subject | Strukturwandel | - |
| dc.subject | Schätzung | - |
| dc.subject | Deutschland | - |
| dc.title | Declining Output Volatility in Germany : Impulses, Propagation, and the Role of Monetary Policy | - |
| dc.type | doc-type:workingPaper | - |
| dc.coverage | 1970-1990 | - |
| Appears in Collections: | EconStor | |
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