Working Paper

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Ansgar Belke, Coletta Frenzel Baudisch, Matthias Gocke Interest Rate Bands of Inaction and Play-Hysteresis in
Domestic Investment – Evidence for the Euro Area
romewp2019-10
Ansgar Belke, Edoardo Beretta The paper 09-2019 was removed due to publication in a journal prohiting the publication of the results in other form. The Repec link is removed as well.
Ansgar Belke, Ulrich Volz The Yen Exchange Rate and the Hollowing Out of the Japanese Industry* romewp2019-08
Ansgar Belke, Christian Dreger Did interest rates at the zero lower bound affect lending of com-mercial banks? Evidence for the Euro area romewp2019-07
Ansgar Belke, Jens Klose Forecasting ECB Policy Rates with Different Monetary Policy Rules romewp2019-06
Malte Krueger Multilaterale Interchange-Gebühren: Man sollte das Kind nicht mit dem Bade ausschütten romewp2019-05
Ansgar Belke, Clemens Dominick Trade and capital flows: Substitutes or
complements? An empirical investigation
romewp2019-04
Timo Baas, Ansgar Belke Oil price shocks, monetary policy and current account
imbalances within a currency union
romewp2019-03
Ansgar Belke, Matthias Göcke Interest Rate Hysteresis in Macroeconomic Investment under Uncertainty romewp2019-02
Ansgar Belke, Daniel Gros QE in the euro area: has the PSPP
benefited peripheral bonds?
romewp2019-01
Karl-Heinz Tödter, Gerhard Ziebarth Effektivpreise, Lebenskosten und Kaufkraft
des Geldes im Niedrigzinsumfeld
romewp2018-03
Ansgar Belke After the Bazooka a Bonanza from Heaven –
„Helicopter Money“ Now?
romewp2018-02
Ansgar Belke, Jens Klose Equilibrium Real Interest Rates, Secular Stagnation, and the Financial Cycle: Empirical Evidence for Euro-Area Member Countries romewp2018-01
Malte Krüger Money and Credit: Lessons of the
Irish bank strike of 1970
romewp2017-13
Ansgar Belke, Jens Klose Equilibrium Real Interest Rates and Secular Stagnation: An Empirical Analysis for Euro-Area Member Countries romewp2017-12
Ansgar Belke, Dominik Kronen The impact of uncertainty on macro variables –
An SVAR-based empirical analysis
for EU countries
romewp2017-11
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 & Dominik Kronen The impact of uncertainty on macro variables – An SVAR-based empirical analysis for EU countries romewp2017-08
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