Working Papers

from Oesterreichische Nationalbank (Austrian Central Bank)
P.O. Box 61, A-1011 Vienna, Austria.
Contact information at EDIRC.
Series data maintained by Markus Knell and Helmut Stix ().

Access Statistics for this working paper series.
Is something missing from the series or not right? See the RePEc data check for the archive and series.

157: The sensitivity of DSGE models' results to data detrending

Simona Delle Chiaie

156: Financial Networks, Cross Holdings, and Limited Liability

Helmut Elsinger

155: Systemic Risk: Amplification Effects, Externalities, and Policy Responses

Anton Korinek

154: Country Size, Currency Unions, and International Asset Returns

Tarek Alexander Hassan

153: The Impact of Reference Norms on Inflation Persistence When Wages are Staggered

Markus Knell and Alfred Stiglbauer

152: Are Banks Different? Evidence from the CDS Market

Burkhard Raunig and Martin Scheicher

151: Why did we fail to predict GDP during the last cycle? A breakdown of forecast errors for Austria

Martin Schneider and Christian Ragacs

150: How to find plausible, severe, and useful stress scenarios

Thomas Breuer, Martin Jandacka, Klaus Rheinberger and Martin Summer

149: Expected Monetary Policy and the Dynamics of Bank Lending Rates

Claudia Kwapil and Johann Scharler

148: Comparing the New Keynesian Phillips Curve with Time Series Models to Forecast Inflation

Fabio Rumler and Maria Teresa Valderrama

147: Inequality and growth: Goal conflict or necessary prerequisite?

Cecilia Garcia-Penalosa

146: The Optimal Mix Between Funded and Unfunded Pensions Systems When People Care About Relative Consumption

Markus Knell

145: Transmission of business cycle shocks between the US and the euro area

Martin Schneider and Gerhard Fenz

144: Dating and forecasting turning points by Bayesian clustering with dynamic structure: A suggestion with an application to Austrian data

Sylvia Kaufmann

143: Risk-Premia, Carry-Trade Dynamics, and Speculative Efficiency of Currency Markets

Christian Wagner

142: Testing the tax competition theory: How elastic are national tax bases in Western Europe?

Aleksandra Riedl and Silvia Rocha-Akis

141: The Real Consequences of Financial Market Integration when Countries Are Heterogeneous

Kerstin Gerling

140: Euroization: What Factors drive its Persistence? Household Data Evidence for Croatia, Slovenia and Slovakia

Helmut Stix

139: Mr. Wicksell and the global economy: What drives real interest rates?

Michal Brzoza-Brzezina and Jesus Crespo Cuaresma

138: Real Convergence, Price Level Convergence and Inflation Differentials in Europe

Balázs Égert

137: Transmission of business cycle shocks between unequal neighbours: Germany and Austria

Gerhard Fenz and Martin Schneider

136: The Relative Importance of Symmetric and Asymmetric Shocks: the Case of United Kingdom and Euro Area

Gert Peersman

135: Has the EU’s Single Market Programme fostered competition? Testing for a decrease in markup ratios in EU industries

Harald Badinger

134: Central Bank Interventions, Communication and Interest Rate Policy in Emerging European Economies

Balázs Égert

133: A Deliberative Independent Central Bank

Erwin Jericha and Martin Schürz

132: AQM-06: The Macroeconomic Model of the OeNB

Martin Schneider and Markus Leibrecht

131: Expected Money Growth, Markov Trends and the Instability of Money Demand in the Euro Area

Sylvia Kaufmann and Peter Kugler

130: A Worldwide System of Reference Rates

John Williamson

129: Are Monetary Rules and Reforms Complements or Substitutes? A Panel Analysis for the World versus OECD Countries

Ansgar Belke, Bernhard Herz and Lukas Vogel

128: Three Lectures on Monetary Theory and Policy: Speaking Notes and Background Papers

David Laidler

127: Proposal for a Common Currency among Rich Democracies (Paper 1); One World Money, Then and Now (Paper 2)

Richard N. Cooper (Paper 1), Michael Bordo (Paper 2) and Harold James (Paper 2)

126: Monetary Union, External Shocks and Economic Performance: A Latin American Perspective

Sebastian Edwards

125: Regional Currency Arrangements: Insights from Europe

Josef Christl

124: Responses to Monetary Policy Shocks in the East and the West of Europe: A Comparison

Marek Jarociński

123: The Mystique of Central Bank Speak

Petra Maria Geraats

122: Exchange-Rate Arrangements and Financial Integration in East Asia: On a Collision Course?

Hans Genberg

121: Regional Currency Arrangements in North America

Sven Arndt

120: Europe’s Hard Fix: The Euro Area

Otmar Issing

119: An Unobserved Components Model to forecast Austrian GDP

Gerhard Fenz and Martin Spitzer

118: Interest Rate Pass-Through, Monetary Policy Rules and Macroeconomic Stability

Claudia Kwapil and Johann Scharler

117: Do Bank-Based Financial Systems Reduce Macroeconomic Volatility by Smoothing Interest Rates?

Johann Scharler

116: Financial Systems and the Cost Channel Transmission of Monetary Policy Shocks

Sylvia Kaufmann and Johann Scharler

115: The London Stock Exchange in the 19th Century: Ownership Structures, Growth and Performance

Larry Neal

114: The Determinants of Multinational Banking during the First Globalization, 1870-1914

Stefano Battilossi

113: Lessons from Italian Monetary Unification

James S. Foreman-Peck

112: Did Genoa and Venice Kick a Financial Revolution in the Quattrocento?

Michele Fratianni and Franco spinelli

111: European Financial Market Integration in the Gruenderboom and Gruenderkrach: Evidence from European Cross-Listings

Markus Baltzer

110: Does Diversification Improve the Performance of German Banks? Evidence from Individual Bank Loan Portfolios

Evelyn Hayden, Daniel Porath and Natalja von Westernhagen

109: Bankruptcy Law, Creditors’ Rights and Contractual Exchange in Europe, 1808-1914

Jérôme Sgard

108: European Banks and their Impact on the Banking Industry in Chile and Brazil: 1862 - 1913

Ignacio Briones and André Villela