Oesterreichische Nationalbank (Austrian Central Bank)
Working Papers
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2012
- 181 Foreign Currency Loans and Loan Arrears of Households in Central and Eastern Europe
by Elisabeth Beckmann & Jarko Fidrmuc & Helmut Stix - 180 Have Changes in the Financial Structure Affected Bank Profitability? Evidence for Austria
by Fabio Rumler & Walter Waschiczek - 179 Increasing Life Expectancy and Pay-As-You-Go Pension Systems
by Markus Knell - 178 Why Do People Save in Cash? Distrust, Memories of Banking Crises, Weak Institutions and Dollarization
by Helmut Stix - 177 A structural interpretation of the impact of the great recession on the Austrian economy using an estimated DSGE model
by Gerhard Fenz & Lukas Reiss & Martin Schneider - 176 Multiple Imputation in the Austrian Household Survey on Housing Wealth
by Nicolás Albacete
2011
- 175 How Does Quality Impact on Import Prices?
by Konstantins Benkovskis & Julia Wörz - 174 Regulatory Medicine Against Financial Market Instability: What Helps And What Hurts?
by Stefan Kerbl - 173 Decomposition of Wealth and Income using Micro Data from Austria
by Peter Lindner - 172 Credit Risk in General Equilibrium
by Jürgen Eichberger & Klaus Rheinberger & Martin Summer - 171 Households’ Foreign Currency Borrowing in Central and Eastern Europe
by Jarko Fidrmuc & Mariya Hake & Helmut Stix - 170 Bank Bailouts, International Linkages and Cooperation
by Friederike Niepmann & Tim Schmidt-Eisenlohr - 169 Can Regional Transfers Buy Public Support? Evidence from EU Structural Policy
by Steffen Osterloh - 168 Stock Market Volatility, Consumption and Investment; An Evaluation of the Uncertainty Hypothesis Using Post-War U.S. Data
by Burkhard Raunig & Johann Scharler - 167 Does the Broad Public Want to Consolidate Public Debt? – The Role of Fairness and of Policy Credibility
by Helmut Stix
2010
- 166 Firms' Reactions to the Crisis and their Consequences for the Labour Market. Results of a Company Survey conducted in Austria
by Claudia Kwapil - 165 Independence Tests based on Symbolic Dynamics
by Helmut Elsinger - 164 Inflation Dynamics
by Sylvia Kaufmann & Johann Scharler - 163 Short-term forecasting GDP with a DSGE model augmented by monthly indicators
by Marianna Červená & Martin Schneider - 162 Has the Euro changed the Business Cycle?
by Zeno Enders & Philip Jung & Gernot J. Müller - 161 Nominal and Real Wage Rigidities. In Theory and in Europe
by Markus Knell - 160 Spatial Filtering, Model Uncertainty and the Speed of Income Convergence in Europe
by Jesús Crespo Cuaresma & Martin Feldkircher - 139 Mr. Wicksell and the global economy: What drives real interest rates?
by Michal Brzoza-Brzezina & Jesus Crespo Cuaresma
2009
- 159 Euroization in Central, Eastern and Southeastern Europe – New Evidence On Its Extent and Some Evidence On Its Causes
by Thomas Scheiber & Helmut Stix - 158 Trust in Banks? Evidence from normal times and from times of crises
by Markus Knell & Helmut Stix - 157 The sensitivity of DSGE models' results to data detrending
by Simona Delle Chiaie - 156 Financial Networks, Cross Holdings, and Limited Liability
by Helmut Elsinger - 155 Systemic Risk: Amplification Effects, Externalities, and Policy Responses
by Anton Korinek - 154 Country Size, Currency Unions, and International Asset Returns
by Tarek A. Hassan - 153 The Impact of Reference Norms on Inflation Persistence When Wages are Staggered
by Markus Knell & Alfred Stiglbauer - 152 Are Banks Different? Evidence from the CDS Market
by Burkhard Raunig & Martin Scheicher - 151 Why did we fail to predict GDP during the last cycle? A breakdown of forecast errors for Austria
by Martin Schneider & Christian Ragacs - 150 How to find plausible, severe, and useful stress scenarios
by Thomas Breuer & Martin Jandacka & Klaus Rheinberger & Martin Summer - 149 Expected Monetary Policy and the Dynamics of Bank Lending Rates
by Claudia Kwapil & Johann Scharler
2008
- 148 Comparing the New Keynesian Phillips Curve with Time Series Models to Forecast Inflation
by Fabio Rumler & Maria Teresa Valderrama - 147 Inequality and growth: Goal conflict or necessary prerequisite?
by Cecilia García-Peñalosa - 146 The Optimal Mix Between Funded and Unfunded Pensions Systems When People Care About Relative Consumption
by Markus Knell - 145 Transmission of business cycle shocks between the US and the euro area
by Martin Schneider & Gerhard Fenz - 144 Dating and forecasting turning points by Bayesian clustering with dynamic structure: A suggestion with an application to Austrian data
by Sylvia Kaufmann - 143 Risk-Premia, Carry-Trade Dynamics, and Speculative Efficiency of Currency Markets
by Christian Wagner - 142 Testing the tax competition theory: How elastic are national tax bases in Western Europe?
by Aleksandra Riedl & Silvia Rocha-Akis - 141 The Real Consequences of Financial Market Integration when Countries Are Heterogeneous
by Kerstin Gerling - 140 Euroization: What Factors drive its Persistence? Household Data Evidence for Croatia, Slovenia and Slovakia
by Helmut Stix - 137 Transmission of business cycle shocks between unequal neighbours: Germany and Austria
by Gerhard Fenz & Martin Schneider - 130 A Worldwide System of Reference Rates
by John Williamson - 120 Europe’s Hard Fix: The Euro Area
by Otmar Issing
2007
- 138 Real Convergence, Price Level Convergence and Inflation Differentials in Europe
by Balázs Égert - 136 The Relative Importance of Symmetric and Asymmetric Shocks: the Case of United Kingdom and Euro Area
by Gert Peersman - 135 Has the EU’s Single Market Programme fostered competition? Testing for a decrease in markup ratios in EU industries
by Harald Badinger - 134 Central Bank Interventions, Communication and Interest Rate Policy in Emerging European Economies
by Balázs Égert - 128 Three Lectures on Monetary Theory and Policy: Speaking Notes and Background Papers
by David Laidler - 124 Responses to Monetary Policy Shocks in the East and the West of Europe: A Comparison
by Marek Jarocinski - 123 The Mystique of Central Bank Speak
by Petra Geraats - 119 An Unobserved Components Model to forecast Austrian GDP
by Gerhard Fenz & Martin Spitzer - 118 Interest Rate Pass-Through, Monetary Policy Rules and Macroeconomic Stability
by Claudia Kwapil & Johann Scharler - 117 Do Bank-Based Financial Systems Reduce Macroeconomic Volatility by Smoothing Interest Rates?
by Johann Scharler - 116 Financial Systems and the Cost Channel Transmission of Monetary Policy Shocks
by Sylvia Kaufmann & Johann Scharler - 115 The London Stock Exchange in the 19th Century: Ownership Structures, Growth and Performance
by Larry Neal - 113 Lessons from Italian Monetary Unification
by James Foreman-Peck - 112 Did Genoa and Venice Kick a Financial Revolution in the Quattrocento?
by Michele Fratianni & Franco Spinelli - 111 European Financial Market Integration in the Gruenderboom and Gruenderkrach: Evidence from European Cross-Listings
by Markus Baltzer - 105 Trade Integration of Central and Eastern European Countries: Lessons from a Gravity Model
by Matthieu Bussière & Jarko Fidrmuc & Bernd Schnatz - 104 AQM. The Austrian Quarterly Model of the Oesterreichische Nationalbank
by Gerhard Fenz & Martin Spitzer
2006
- 133 A Deliberative Independent Central Bank
by Erwin Jericha & Martin Schürz - 132 AQM-06: The Macroeconomic Model of the OeNB
by Martin Schneider & Markus Leibrecht - 131 Expected Money Growth, Markov Trends and the Instability of Money Demand in the Euro Area
by Sylvia Kaufmann & Peter Kugler - 129 Are Monetary Rules and Reforms Complements or Substitutes? A Panel Analysis for the World versus OECD Countries
by Ansgar Belke & Bernhard Herz & Lukas Vogel - 127 Proposal for a Common Currency among Rich Democracies (Paper 1); One World Money, Then and Now (Paper 2)
by Richard N. Cooper (Paper 1) & Michael Bordo (Paper 2) & Harold James (Paper 2) - 126 Monetary Union, External Shocks and Economic Performance: A Latin American Perspective
by Sebastian Edwards - 125 Regional Currency Arrangements: Insights from Europe
by Josef Christl - 122 Exchange-Rate Arrangements and Financial Integration in East Asia: On a Collision Course?
by Hans Genberg - 121 Regional Currency Arrangements in North America
by Sven Arndt - 114 The Determinants of Multinational Banking during the First Globalization, 1870-1914
by Stefano Battilossi - 110 Does Diversification Improve the Performance of German Banks? Evidence from Individual Bank Loan Portfolios
by Evelyn Hayden & Daniel Porath & Natalja von Westernhagen - 109 Bankruptcy Law, Creditors’ Rights and Contractual Exchange in Europe, 1808-1914
by Jérôme Sgard - 108 European Banks and their Impact on the Banking Industry in Chile and Brazil: 1862 - 1913
by Ignacio Briones & André Villela - 107 Legal-Political Factors and the Historical Evolution of the Finance-Growth Link
by Michael D. Bordo & Peter L. Rousseau - 106 Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues
by Balázs Égert & László Halpern & Ronald MacDonald - 103 Does Money Matter for Inflation in the Euro Area?
by Peter Kugler & Sylvia Kaufmann
2005
- 99 The Effect of Capital Requirement Regulation on the Transmission of Monetary Policy: Evidence from Austria
by Philipp Engler & Terhi Jokipii & Christian Merkl & Pablo Rovira Kaltwasser & Lúcio Vinhas de Souza - 98 The European Monetary Union as a Commitment Device for New EU Member States
by Federico Ravenna - 97 Financial Differences and Business Cycle Co-Movements in A Currency Area
by Ester Faia - 96 Managerial behavior and cost/profit efficiency in the banking sectors of Central and Eastern European countries
by Stefania P.S. Rossi & Markus Schwaiger & Gerhard Winkler - 95 On the Design of Sustainable and Fair PAYG Pension Systems When Cohort Sizes Change
by Markus Knell - 102 Estimates of the Open Economy New Keynesian Phillips Curve for Euro Area Countries
by Fabio Rumler - 101 How Frequently Do Consumer Prices Change in Austria? Evidence from Micro CPI Data
by Josef Baumgartner & Ernst Glatzer & Fabio Rumler & Alfred Stiglbauer - 100 The Price-Setting Behavior of Austrian Firms: Some Survey Evidence
by Claudia Kwapil & Josef Baumgartner & Johann Scharler
2004
- 94 What Do German Short-Term Interest Rates Tell Us About Future Inflation?
by Harald Grech - 93 Understanding the Stock Market's Response to Monetary Policy Shocks
by Johann Scharler - 92 Exchange Rate Regimes Past, Present and Future
by Michael D. Bordo & Josef Christl & Christian Just & Harold James - 91 Forecasting Austrian Inflation
by Gabriel Moser & Fabio Rumler & Johann Scharler - 90 Modeling Credit Aggregates
by Sylvia Kaufmann & Maria Teresa Valderrama - 89 Forecasting Austrian GDP using the generalized dynamic factor model
by Martin Schneider & Martin Spitzer - 88 Three Decades of Money Demand Studies. Some Differences and Remarkable Similarities
by Markus Knell & Helmut Stix - 87 Bank Capital, Liquidity and Systemic Risk
by Martin Summer & Juergen Eichberger
2003
- 86 Testing for Longer Horizon Predictability of Return Volatility with an Application to the German DAX
by Burkhard Raunig - 85 Investigating asymmetries in the bank lending channel. An analysis using Austrian banks’ balance sheet data
by Sylvia Kaufmann & Sylvia Fruehwirth-Schnatter - 84 Searching for the Natural Rate of Interest: A Euro-Area Perspective
by Jesus Crespo Cuaresma & Ernest Gnan & Doris Ritzberger-Gruenwald - 83 The business cycle of European countries. Bayesian clustering of country-individual IP growth series
by Sylvia Kaufmann - 82 How Do Debit Cards Affect Cash Demand? Survey Data Evidence
by Helmut Stix - 81 How Robust are Money Demand Estimations? A Meta-Analytic Approach
by Markus Knell & Helmut Stix
2002
- 80 Does Central Bank Intervention Influence the Probability of a Speculative Attack? Evidence from the EMS
by Helmut Stix - 79 Risk Assessment for Banking Systems
by Martin Summer & Helmut Elsinger & Alfred Lehar - 78 Job Creation and Job Destruction in a Regulated Labor Market: The Case of Austria
by Alfred Stiglbauer & Florian Stahl & Rudolf Winter-Ebmer & Josef Zweimüller - 77 Why Did Central Banks Intervene in the EMS? The Post 1993 Experience
by Peter Brandner & Harald Grech - 76 The Potential Consequences of Alternative Exchange Rate Regimes: A Study of Three Candidate Regions*Monetary Union: European Lessons, Latin American Prospects
by Eduard Hochreiter & Anton Korinek & Pierre L. Siklos - 75 Central European EU Accession and Latin American Integration: Mutual Lessons in Macroeconomic Policy Design
by George Kopits - 74 The Great Exchange Rate Debate after Argentina
by Sebastian Edwards - 73 Forecasting Austrian HICP and its Components using VAR and ARIMA Models
by Friedrich Fritzer & Gabriel Moser & Johann Scharler - 72 Monetary Integration in the Southern Cone: Mercosur Is Not Like the EU?
by Ansgar Belke & Daniel Gros - 71 EMU and Accession Countries: Fuzzy Cluster Analysis of Membership
by Dimitri Boreiko - 70 Fiscal and Monetary Policy Coordination in EMU
by Jürgen von Hagen & Susanne Mundschenk - 69 Reflections on the Optimal Currency Area (OCA) criteria in the light of EMU
by Michael J. Artis - 68 Monetary Union: European Lessons, Latin American Prospects
by Eduard Hochreiter & Klaus Schmidt-Hebbel & Georg Winckler - 67 An Evaluation of Monetary Regime Options for Latin America
by Andrew Berg & Eduardo Borensztein, & Paolo Mauro - 66 Growth, integration, and macroeconomic policy design: Some lessons for Latin America
by David Begg - 65 Dollarization and Economic Performance: What Do We Really Know?
by Sebastian Edwards & I. Igal Magendzo - 64 The Federal Design of a Central Bank in a Monetary Union: The Case of the European System of Central Banks
by Sylvester C.W. Eijffinger - 63 Wage Formation in Open Economies and the Role of Monetary and Wage-Setting Institutions
by Markus Knell - 62 Growth, Convergence and EU Membership
by Jesús Crespo-Cuaresma & Maria Antoinette Dimitz & Doris Ritzberger-Grünwald - 61 Price Dynamics in Central and Eastern European EU Accession Countries
by Peter Backé & Jarko Fidrmuc & Thomas Reininger & Franz Schardax - 60 The Empirical Performance of Option Based Densities of Foreign Exchange
by Ben R. Craig & Joachim G. Keller - 59 Evaluating Density Forecasts with an Application to Stock Market Returns
by Gabriela de Raaij & Burkhard Raunig - 58 Credit Channel and Investment Behavior in Austria: A micro-econometric approach
by Maria Valderrama - 57 Banking Regulation and Systemic Risk
by Martin Summer - 56 Asymmetries in Bank Lending Behaviour. Austria During the 1990s
by Sylvia Kaufmann
2001
- 55 The Effectiveness of Central Bank Intervention in the EMS: The Post 1993 Experience
by Peter Brandner & Harald Grech & Helmut Stix - 54 New International Monetary Arrangements and the Exchange Rate
by Tommaso Monacelli - 53 Why Is the Business-Cycle Behavior of Fundamentals Alike Across Exchange-Rate Regimes?
by Luca Dedola & Sylvain Leduc - 52 Beyond Bipolar: A Three-Dimensional Assessment of Monetary Frameworks
by Kenneth N. Kuttner & Adam S. Posen - 51 Assessing Inflation Targeting after a Decade of World Experience
by Vittorio Corbo & Oscar Landerretche & Klaus Schmidt-Hebbel - 50 Macroeconomic Fundamentals and the DM/$ Exchange Rate: Temporal Instability and the Monetary Model
by Michael D. Goldberg & Roman Frydman - 49 Arbitrage and Optimal Portfolio Choice with Financial Constraints
by Helmut Elsinger & Martin Summer - 48 A Regulatory Regime for Financial Stability
by David T. Llewellyn - 47 The ECB Monetary Policy Strategy and the Money Market
by Vítor Gaspar & Gabriel Perez-Quiros & Jorge Sicilia - 46 Exchange Rates, Prices and Money. A Long Run Perspective
by Paul De Grauwe & Marianna Grimaldi - 45 Is There an Asymmetric Effect of Monetary Policy over Time? A Bayesian Analysis
by Sylvia Kaufmann - 44 The Euro Area and the Single Monetary Policy
by Otmar Issing - 43 The Bank, the States, and the Market: An Austro-Hungarian Tale for Euroland, 1867-1914
by Marc Flandreau
2000
- 42 Integration, Disintegration and Trade in Europe: Evolution of Trade Relations During the 1990s
by Jarko Fidrmuc & Jan Fidrmuc - 41 Is there a Credit Channel in Austria? The Impact of Monetary Policy on Firms' Investment Decisions
by Katrin Wesche - 40 Central Banks in European Emerging Market Economies in the 1990s
by Eduard Hochreiter & Tadeusz Kowalski
1999
- 39 Democracy and Markets: The Case of Exchange Rates
by John R. Freeman & Jude C. Hays & Helmut Stix - 38 On the real effects of monetary policy: a central banker's view
by Jose Vinals & Javier Valles - 37 Estimation of the Term Structure of Interest Rates; A Parametric Approach
by Alois Geyer & Richard Mader
1998
- 36 Heterogeneities within Industries and Structure-Performance Models
by Dennis Mueller & Burkhard Raunig - 35 Room for Manoeuvre of Economic Policy in EU-Countries are there costs of joining EMU?
by Helene Schuberth - 34 The impact of EMU on European unemployment
by Jose Vinals & Juan F. Jimeno - 33 Core Inflation in Selected European Union Countries
by Christine Gartner & Gert Wehinger - 32 Price Level Convergence among United States Cities: Lessons for the european central bank
by Stephen Cecchetti & Nelson C. Mark & Robert Sonora - 31 The usual suspects? Productivity and demand shocks and Asia-Pacific real exchange rates
by Menzie David Chinn - 30 The great appreciation, the great depreciation, and the purchasing power parity hypothesis
by David Papell - 29 Goods arbitrage and real exchange rate stationarity
by Jose Campa & Holger Wolf - 28 What do we really know about exchange rates?
by Ronald Mac Donald - 27 TRENDS IN EUROPEAN PRODUCTIVITY: Implications for Real Exchange Rates, Real Interest Rates and Inflation Differentials
by Matthew Canzoneri & Robert Cumby & Behzad Diba & Gwen Eudey - 26 Structural budget deficits and sustainability of fiscal positions in the european union
by Peter Brandner & Leopold Diebalek & Helene Schuberth - 25 Sources of currency crises: an empirical analysis
by Axel A. Weber
1997
1996
- 23 Will asymetric shocks pose a serious problem in EMU?
by Franz Pauer - 22 Pessimism confounded? Economic recovery in Eastern Europe
by Rutger Wissels
1995
- 20 Monetary spill-over effects in the ERM: The case of Austria, a former shadow member
by Hans Groeneveld - 19 Austrian exchange rate policy and european monetary integration selected issues
by Eduard Hochreiter