Working Paper

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Ansgar Belke, Daniel Gros Optimal Adjustment Paths in a
Monetary Union
romewp2017-10
Ansgar Belke, Irina Dubova International spillovers in global asset markets romewp2017-09
Ansgar Belke, Daniel Gros Greece and the Troika – Lessons from international best practice cases of successful price (and wage) adjustment romewp2017-07
Gerhard Rösl, Franz Seitz, Karl-Heinz Tödter Besser ohne Bargeld?Gesamtwirtschaftliche Wohlfahrtsverluste derBargeldabschaffung romewp2017-06
Ansgar Belke, Dominik Kronen Exchange Rate Bands of Inaction and Hysteresis in EU Exports to the Global Economy – The Role of Uncertainty romewp2017-05
Ansgar Belke Central Bank Communication: Managing Expectations through the Monetary Dialogue romewp2017-04
Ansgar Belke, Thomas Osowski International Effects of Euro Area versus US Policy Uncertainty: A FAVAR Approach romewp2017-03
Ansgar Belke, Irina Dubova, Ulrich Volz Bond Yield Spillovers from Major Advanced Economies to Emerging Asia romewp2017-02
Carl Christian von Weizsäcker Leviathan – Zum Gewaltmonopol des Staates –
Wider den Protektionismus
romewp2017-01
Peter Spahn Central Bank Design in a Non-optimal Currency Union
A Lender of Last Resort for Government Debt?
romewp2016-10
Malte Krüger The spread of branch banking and the demand
for cash in post-war Germany
romewp2016-09
Ansgar Belke, Clemens Domnick and Daniel Gros Business cycle synchronization in the EMU:
Core vs. periphery
romewp2016-08
Ansgar Belke, Irina Dubova and Thomas Osowski Policy uncertainty and international financial
markets: the case of Brexit
romewp2016-07
Ansgar Belke and Thomas Osowoski Measuring fiscal spillovers in EMU and beyond:
A Global VAR approach
romewp2016-06
Ansgar Belke, Christian Dreger and Irina Dubova On the exposure of the BRIC countries
to global economic shocks/td>

romewp2016-05
Peter Spahn Population growth, saving, interest rates
and stagnation
romewp2016-03
Ansgar Belke, Anna Dobrzańska, Daniel Gros
and Pawel Smaga
(When) should a non-euro country
join the banking union?
romewp2016-02
Nikolaus Bartzsch and Franz Seitz Transaction Balances: From accounting and economics to biology romewp2016-01
Ansgar Belke, Daniel Gros and Thomas Osowski Did Quantitative Easing affect interest rates
outside the US? New evidence based on
interest rate differentials
romewp2015-09
Markus Penatzer Brexit: Chance oder Untergang für Großbritannien romewp2015-08
Ansgar Belke, Ulrich Haskamp and Ralph Setzer Regional Bank Efficiency and its Effect on
Regional Growth in “Normal” and “Bad” Times
romewp2015-07
Ansgar Belke, Ulrich Haskamp, Gunther Schnabl and Holger Zemanek Beyond Balassa and Samuelson: Real Convergence, Capital Flows, and Competitiveness in Greece romewp2015-06
Ansgar Belke und Dominik Kronen Exchange Rate Bands of Inaction and Play-Hysteresis in Greek exports to the Euro Area, the US and Turkey – Sectoral Evidence romewp2015-05
Ansgar Belke, Dominik Kronen and Thomas Osowski Planned Fiscal Consolidations and Growth
Forecast Errors – New Panel Evidence on
Fiscal Multipliers
romewp2015-03
Nikolaus Bartzsch, Franz Seitz and Ralph Setzer The Demand for Euro Banknotes Issued in<
Germany: Structural Modelling and Forecasting
romewp2015-03
Ansgar Belke und Daniel Gros Banking Union as a Shock Absorber romewp2015-02
Gerhard Rösl und Karl-Heinz Tödter Zins- und Wohlfahrtseffekte extremer
Niedrigzinspolitik für die Sparer in Deutschland
romewp2015-01
Ansgar Belke and Tobias Böing Sacrifice Ratios for Euro Area Countries:
New Evidence on the Costs of Price Stability
romewp2014-11
Joscha Beckmann, Ansgar Belke and Christian Dreger The Relevance of International Spillovers and
Asymmetric Effects in the Taylor Rule
romewp2014-10
Peter Spahn The Bank Lending Channel in a Simple Macro
Model − How to Extend the Taylor Rule?
romewp2014-09
Malte Krüger Do the Poor Pay for Card Rewards of the Rich? romewp2014-08
Timo Baas and Ansgar Belke Labor Market Reforms and Current Account
Imbalances – Beggar-thy-neighbor Policies in a
Currency Union?
romewp2014-07
Markus Altmann and Nikolaus Bartzsch The Volume of Euro Coins held for
Transaction Purposes in Germany
romewp2014-06e
Markus Altmann and Nikolaus Bartzsch Der Transaktionskassenbestand
von Euro-Münzen in Deutschland
romewp2014-06
Daniel Gros, Cinzia Alcidi, Ansgar Belke, Leonor Coutinho and Alessandro Giovannini State-of-play in Implementing Macroeconomic
Adjustment Programmes in the Euro Area
romewp2014-05
Peter Spahn Böhm-Bawerk und die Anfänge der
monetären Zinstheorie
romewp2014-04
Ansgar Belke Non-Standard Monetary Policy Measures –
Magic Wand or Tiger by the Tail?
romewp2014-03
Ansgar Belke Monetary Dialogue 2009-2014:
Looking backward, looking forward
romewp2014-02
Ansgar Belke Exit Strategies and Their Impact on the Euro Area
– A Model Based View
romewp2014-01
Lukas Scheffknecht Contextualizing Systemic Risk romewp2013-17
Peter Spahn Competitiveness, Adjustment and
Macroeconomic Risk Management in the
Eurozone
romewp2013-16
Malte Krueger Target-balances: The Greek Examples romewp2013-15
Ansgar Belke and Christian Dreger The Transmission of Oil and
Food Prices to Consumer Prices
– Evidence for the MENA countries
romewp2013-14
Ansgar Belke, Anne Oeking and Ralph Setzer Exports and Capacity Constraints
– A Smooth Transition Regression Model
for Six Euro Area Countries
romewp2013-13
Ansgar Belke and Jennifer Schneider Portfolio Choice of Financial Investors and
European Business Cycle Convergence
– A Panel Analysis for EU Countries
romewp2013-12
Ansgar Belke und Florian Verheyen Doomsday for the Euro Area – Causes,
Variants and Consequences of Breakup
romewp2013-11
Ansgar Belke Finance Access of SMEs:
What Role for the ECB?
romewp2013-10
Ansgar Belke 3-Year LTROs – A First Assessment of a
Non-Standard Policy Measure
romewp2013-09
Ansgar Belke and Marcel Wiedmann Money, Stock Prices and Central Banks
– Cross-Country Comparisons of
Cointegrated VAR Models
romewp2013-08
Joscha Beckmann, Ansgar Belke and Michael Kühl Foreign Exchange Market Interventions
and the $-¥ Exchange Rate in the Long Run
romewp2013-07
Joscha Beckmann, Ansgar Belke and Florian Verheyen Exchange Rate Pass-Through into
German Import Prices
– A Disaggregated Perspective
romewp2013-06
Ansgar Belke Impact of a Low Interest Rate Environment
– Global Liquidity Spillovers
and the Search-for-yield
romewp2013-05
Ansgar Belke Towards a Genuine Economic
and Monetary Union
– Comments on a Roadmap
romewp2013-04
Ansgar Belke A More Effective
Euro Area Monetary Policy than OMTs
– Gold-Backed Sovereign Debt
romewp2013-03
Malte Krueger Sezession: Ein gefährliches Spiel romewp2013-02
Franz Seitz and Markus A. Schmidt The Role of Money in Modern Macro Models romewp2013-01
Ansgar Belke, Andreas Freytag, Jonas Keil and Friedrich Schneider The Credibility of Monetary Policy Announcements: Empirical
Evidence for OECD Countries since the 1960s
romewp2012-07
Ansgar Belke, Lukas Vogel Monetary Commitment and Structural
Reforms: A Dynamic Panel Analysis for Transition Economies
romewp2012-06
Joscha Beckmann, Ansgar Belke, Florian Verheyen Interest Rate Pass-Through in the
EMU – New Evidence from Nonlinear Cointegration Techniques for
Fully Harmonized Data
romewp2012-05
Asngar Belke,
Jens Klose
Modifying Taylor Reaction
Functions in Presence of the
Zero-Lower-Bound – Evidence for the
ECB and the Fed
romewp2012-04
Ansgar Belke, Christian
Dreger and Richard Ochmann
Do Wealthier Households Save More?
The Impact of the Demographic Factor
romewp2012-03
Asngar Belke,
Matthias Göcke and Martin Günther
Exchange Rate Bands of Inaction and
Play-Hysteresis in German Exports –
Sectoral Evidence for Some
OECD Destinations*
romewp2012-02
Ansgar Belke,
Ingo Bordon and Ulrich Volz
Effects of Global Liquidity on
Commodity and Food Prices
romewp2012-01
Nikolaus Bartzsch,
Gerhard Rösl and Franz Seitz
Currency Movements Within and
Outside a Currency Union: The
Case of Germany and the Euro
Area
romewp2011-05
Ansgar Belke
and Christian Dreger
Ramifications of Debt Restructuring on the Euro Area – The Example
of Large
European Economies΄ Exposure to Greece
romewp2011-04
Joscha Beckmann,
Ansgar Belke and Frauke Dobnik
Cross-Section Dependence
and the Monetary Exchange Rate Model – A Panel Analysis
romewp2011-03
Ansgar Belke
and Christian Gokus
Volatility Patterns of CDS, Bond and Stock Markets before and
during the
Financial Crisis: Evidence from Major Financial Institutions
romewp2011-02
Ansgar Belke
and Christian Dreger
Current Account Imbalances in the Euro Area: Catching up or
Competitiveness?
romewp2011-01
Ansgar Belke Reinforcing EU Governance in Times of Crisis: The Commission
Proposals and
beyond
romewp2010-14
Peter Spahn Liquiditätspräferenz,
endogenes
Geld und Finanzmärkte
romewp2010-13
Ansgar Belke The Euro Area Crisis Management Framework: Consequences and
Institutional Follow-ups
romewp2010-12
Peter Spahn Asset Prices, Inflation and Monetary Control – Re-inventing Money
as a Policy Tool
romewp2010-11
Ansgar Belke Driven by the Markets? ECB Sovereign Bond Purchases and the
Securities
Markets Programme
romewp2010-10
Ralph Setzer.
Paul van den Noord, Guntram B. Wolff
Heterogeneity
in
Money Holdings across Euro Area Countries: The Role of Housing
romewp2010-09
Heinz-Dieter Smeets Staatliche
Schuldenkrisen
– Das Beispiel Griechenland
romewp2010-08
Ansgar Belke How much Fiscal Backing must the ECB have? The Euro Area is not
the
Philippines
romewp2010-07
Ansgar Belke Financial Crisis,
Global Liquidity and Monetary Exit Strategies
romewp2010-06
Jörg Clostermann.
Nikolaus Keis, Franz Seitz
Short-term Oil Models before and during the Financial Market
Crisis
romewp2010-05
Ansgar Belke,
Barbara von Schnurbein
European Monetary Policy and the ECB Rotation Model Voting Power
of the
Core versus the Periphery
romewp2010-04
Ansgar Belke,
Robert Czudaj
Is Euro Area Demand (Still) Stable? Cointegrated VAR versus Single
Equation Techniques
romewp2010-03
Ansgar Belke,
Ingo G. Bordon, Torben W. Hendricks
Monetary Policy, Global Liquidity and Commodity Price Dynamics romewp2010-02
Ansgar Belke,
Jens Klose
(How) Do the ECB and the Fed React to Financial Market
Uncertainty? The
Taylor Rule in Times of Crisis
romewp2010-01
Malte Krüger Pricing of Payments romewp2009-08
Ansgar Belke,
Andreas Rees
The Importance
of Global Shocks for National Policymakers – Rising
Challenges for Central Banks
romewp2009-07
Joscha Beckmann,
Ansgar Belke, Michael Kühl
How Stable are Monetary Models of the Dollar-Euro Exchange Rate? A
Time-varying Coefficient Approach
romewp2009-06
Ansgar Belke,
Jens Klose
Does the ECB rely on a Taylor Rule? Comparing Ex-post with Real
Time
Data
romewp2009-05
Ansgar Belke Die Auswirkungen der Geldmenge und des Kreditvolumens auf die
Immobilienpreise – Ein ARDL-Ansatz für Deutschland
romewp2009-04
Ansgar Belke,
Daniel Gros
A Simple Model of an Oil Based Global Savings Glut – The “China
Factor” and the OPEC Cartel
romewp2009-03
Ansgar Belke,
Gunther Schnabl, Holger Zemanek
Current Account Imbalances and Structural Adjustment in the Euro
Area: How
to Rebalance Competitiveness?
romewp2009-02
Christina Gerberding,
Franz Seitz, Andreas Worms
Interest Rate Rules and Monetary Targeting: What are the Links? romewp2009-01
Julia von Borstel Interest Rate Pass-Through in Germany and the Euro Area romewp2008-05
Philipp Lehmbecker The Quality of Eligible Collateral an Monetary Stability -An
Empirical Analysis
romewp2008-04
Philipp Lehmbecker,
Martin Missong
Measuring the Quality of Eligible Collateral romewp2008-03
Ansgar Belke,
Walter Orth, Ralph Setzer
Global Liquidity
and House Prices – A VAR Analysis for OECD Countries
romewp2008-02
Malte Krueger Money: A Market Microstructure Approach romewp2008-01
Ulrike Neyer Interest on Reserves and the Flexibility of Monetary Policy in the
Euro
Area
romewp2007-05
Claus Greiber,
Ralph Setzer
Money and Housing -Evidence for the Euro Area and the US romewp2007-04
Heinz-Peter Spahn Two-Pillar Monetary
Policy and Bootstrap Expectations
romewp2007-03
A. Belke, T. Polleit Money and Inflation. Lessons from the US for ECB Monetary Policy romewp2007-02
E.Görgens, K.Ruckriegel, F. Seitz Quo vadis, Geldmenge? Zur Rolle der Geldmenge für eine moderne
Geldpolitik
romewp2007-01