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 ().

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

Ignacio Briones and André Villela

107: Legal-Political Factors and the Historical Evolution of the Finance-Growth Link

Michael David Bordo and Peter Rousseau

106: Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues

Balázs Égert, László Halpern and Ronald MacDonald

105: Trade Integration of Central and Eastern European Countries: Lessons from a Gravity Model

Matthieu Bussiere, Jarko Fidrmuc and Bernd Schnatz

104: AQM. The Austrian Quarterly Model of the Oesterreichische Nationalbank

Gerhard Fenz and Martin Spitzer

103: Does Money Matter for Inflation in the Euro Area?

Peter Kugler and Sylvia Kaufmann

102: Estimates of the Open Economy New Keynesian Phillips Curve for Euro Area Countries

Fabio Rumler

101: How Frequently Do Consumer Prices Change in Austria? Evidence from Micro CPI Data

Josef Baumgartner, Ernst Glatzer, Fabio Rumler and Alfred M. Stiglbauer

100: The Price-Setting Behavior of Austrian Firms: Some Survey Evidence

Claudia Kwapil, Josef Baumgartner and Johann Scharler

99: The Effect of Capital Requirement Regulation on the Transmission of Monetary Policy: Evidence from Austria

Philipp Engler, Terhi Jokipii, Christian P. Merkl, Pablo Rovira Kaltwasser and Lucio Vinhas de Souza

98: The European Monetary Union as a Commitment Device for New EU Member States

Federico Ravenna

97: Financial Differences and Business Cycle Co-Movements in A Currency Area

Ester Faia

96: Managerial behavior and cost/profit efficiency in the banking sectors of Central and Eastern European countries

Stefania P.S. Rossi, Markus Schwaiger and Gerhard Winkler

95: On the Design of Sustainable and Fair PAYG Pension Systems When Cohort Sizes Change

Markus Knell

94: What Do German Short-Term Interest Rates Tell Us About Future Inflation?

Harald Grech

93: Understanding the Stock Market's Response to Monetary Policy Shocks

Johann Scharler

92: Exchange Rate Regimes Past, Present and Future

Michael David Bordo, Josef Christl, Christian Just and Harold James

91: Forecasting Austrian Inflation

Gabriel Moser, Fabio Rumler and Johann Scharler

90: Modeling Credit Aggregates

Sylvia Kaufmann and Maria Teresa Valderrama

89: Forecasting Austrian GDP using the generalized dynamic factor model

Martin Schneider and Martin Spitzer

88: Three Decades of Money Demand Studies. Some Differences and Remarkable Similarities

Markus Knell and Helmut Stix

87: Bank Capital, Liquidity and Systemic Risk

Martin Summer and Juergen Eichberger

86: Testing for Longer Horizon Predictability of Return Volatility with an Application to the German DAX

Burkhard Raunig

85: Investigating asymmetries in the bank lending channel. An analysis using Austrian banks’ balance sheet data

Sylvia Kaufmann and Sylvia Fruehwirth-Schnatter

84: Searching for the Natural Rate of Interest: A Euro-Area Perspective

Jesus Crespo Cuaresma, Ernest Gnan and Doris Ritzberger-Gruenwald

83: The business cycle of European countries. Bayesian clustering of country-individual IP growth series

Sylvia Kaufmann

82: How Do Debit Cards Affect Cash Demand? Survey Data Evidence

Helmut Stix

81: How Robust are Money Demand Estimations? A Meta-Analytic Approach

Markus Knell and Helmut Stix

80: Does Central Bank Intervention Influence the Probability of a Speculative Attack? Evidence from the EMS

Helmut Stix

79: Risk Assessment for Banking Systems

Martin Summer, Helmut Elsinger and Alfred Lehar

78: Job Creation and Job Destruction in a Regulated Labor Market: The Case of Austria

Alfred M. Stiglbauer, Florian Stahl, Rudolf Winter-Ebmer and Josef Zweimüller

77: Why Did Central Banks Intervene in the EMS? The Post 1993 Experience

Peter Brandner and Harald Grech

76: The Potential Consequences of Alternative Exchange Rate Regimes: A Study of Three Candidate Regions*Monetary Union: European Lessons, Latin American Prospects

Eduard Hochreiter, Anton Korinek and Pierre Siklos

75: Central European EU Accession and Latin American Integration: Mutual Lessons in Macroeconomic Policy Design

George Kopits

74: The Great Exchange Rate Debate after Argentina

Sebastian Edwards

73: Forecasting Austrian HICP and its Components using VAR and ARIMA Models

Friedrich Fritzer, Gabriel Moser and Johann Scharler

72: Monetary Integration in the Southern Cone: Mercosur Is Not Like the EU?

Ansgar Belke and Daniel Gros

71: EMU and Accession Countries: Fuzzy Cluster Analysis of Membership

Dimitri Boreiko

70: Fiscal and Monetary Policy Coordination in EMU

Juergen von Hagen and Susanne Mundschenk

69: Reflections on the Optimal Currency Area (OCA) criteria in the light of EMU

Michael John Artis

68: Monetary Union: European Lessons, Latin American Prospects

Eduard Hochreiter, Klaus Schmidt-Hebbel and Georg Winckler

67: An Evaluation of Monetary Regime Options for Latin America

Andrew Gouinlock Berg, Eduardo Borensztein, and Paolo Mauro

66: Growth, integration, and macroeconomic policy design: Some lessons for Latin America

David Begg

65: Dollarization and Economic Performance: What Do We Really Know?

Sebastian Edwards and I. Igal Magendzo

64: The Federal Design of a Central Bank in a Monetary Union: The Case of the European System of Central Banks

Sylvester Eijffinger

63: Wage Formation in Open Economies and the Role of Monetary and Wage-Setting Institutions

Markus Knell

62: Growth, Convergence and EU Membership

Jesús Crespo-Cuaresma, Maria Antoinette Dimitz and Doris Ritzberger-Grünwald (Jesus Crespo Cuaresma)

61: Price Dynamics in Central and Eastern European EU Accession Countries

Peter Backé, Jarko Fidrmuc, Thomas Reininger and Franz Schardax

60: The Empirical Performance of Option Based Densities of Foreign Exchange

Ben R. Craig and Joachim G. Keller

59: Evaluating Density Forecasts with an Application to Stock Market Returns

Gabriela de Raaij and Burkhard Raunig