Results 41 to 50 of about 318 (84)
Does Reform Work? An Econometric Examination of the Reform-Growth Puzzle [PDF]
Despite the many benefits associated with structural reforms, the literature has thus far failed to establish a positive significant effect of reforms on growth.
Ian Babetskii, Nauro F. Campos
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Cross-Border Lending Contagion in Multinational Banks [PDF]
We study the interdependence of lending decisions in different country branches of a multinational bank. This is done both theoretically and empirically.
Alexis Derviz, Jiri Podpiera
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How are Inflation Targets Set? [PDF]
This paper contributes to a better understanding of how inflation targets are set. First, we gather evidence on how inflation targets are set from official central bank and government publications and from a questionnaire of our own design.
Jakub Mateju, Roman Horvath
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Are Bayesian Fan Charts Useful for Central Banks? Uncertainty, Forecasting, and Financial Stability Stress Tests [PDF]
This paper shows how fan charts generated from Bayesian vector autoregression (BVAR) models can be useful for assessing 1) the forecasting accuracy of central banks’ prediction models and 2) the credibility of stress tests carried out to evaluate ...
Jozef Barunik +3 more
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Why and How to Assess Inflation Target Fulfilment [PDF]
The ex post analysis of inflation target fulfilment plays an important role in an inflation targeting framework. The major benefits of ex post analysis are threefold. First, it might improve the forecast accuracy.
Jan Filacek
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Survey on Wage and Price Formation of Czech Firms [PDF]
Using an ad-hoc survey at the firm level, we investigate the determinants of wage and price-setting practices in Czech firms, the presence and sources of wage rigidity, and reactions of firms to hypothetical shocks. Although the evidence of downward wage
Jan Babecky +2 more
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Stress Testing Credit Risk: Is the Czech Republic Different from Germany? [PDF]
This study deals with credit risk modelling and stress testing within the context of a Merton-type one-factor model. We analyse the corporate and household sectors of the Czech Republic and Germany to find determining variables of credit risk in both ...
Christian Schmieder, Petr Jakubik
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Efficient Likelihood Evaluation of State-Space Representations [PDF]
We develop a numerical procedure that facilitates efficient likelihood evaluation in applications involving non-linear and non-Gaussian state-space models.
David N. DeJong +4 more
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Housing Wealth and Household Indebtedness: Is there a Household 'Financial Accelerator'? [PDF]
The 'financial accelerator' model when applied to households states that shocks to household balance sheets (primarily changes in house prices) amplify fluctuations in consumer spending by tightening or relaxing collateral constraints on borrowing.
John Gathergood +2 more
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The Impact of Population Ageing on the Czech Economy [PDF]
The Czech Republic is facing a population ageing phenomenon. In addition, its demographic structure is expected to change dramatically over the next 50 years.
Jan Babecky, Kamil Dybczak
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