* 97 Results

We analyze the implications of changes in the trend growth rate for optimal monetary policy in the presence of search and matching unemployment. We show that trend growth in itself does not generate a trade-off for the monetary authority, but that it...

We analyze the dynamics in the global crude oil market based on a structural vector autoregressive model. We identify the model by presuming that reduced form residuals can be traced back to structural shocks that are independently distributed over...

Beside a priori theoretical assumptions on instantaneous or long-run effects of structural shocks, sign restrictions have become a prominent means for structural vector autoregressive (SVAR) analysis. Moreover, changes in second order moments of...

I analyze spillover effects from Euro area monetary policy shocks to thirteen EU countries outside the Euro area, i.e., ten countries from Central and Eastern Europe (CEE) and three Western EU members. The analysis is based on a FAVAR model with two...

To determine the possible welfare gains from macroeconomic stabilization policy, we adapt the ap- proach of Lucas (2003) with a risk-averse representative agent. However, instead of using a General Equilibrium model, we apply an agent-based macro...