Differences in natural interest rates in the Eurozone
Autor(a) principal: | |
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Data de Publicação: | 2018 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10362/32470 |
Resumo: | Differences in the natural interest rates across the countries of the Eurozone implies that the monetary policy may not be optimal for each member state individually. This research uses the model developed by Laubach and Williams (2003, 2016) to estimate the natural interest rate for each country of the Eurozone-12. With these estimates I compute the natural interest rate for the Eurozone as a weighted average of the natural rates of each country. The results show that the differences in the natural rate across the Eurozone are higher in periods of asymmetric shocks. Most of the countries also present a large difference between their rates and the Eurozone natural rate. All these estimates are associated to a high degree of uncertainty |
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Differences in natural interest rates in the EurozoneNatural interest rateKalman filterOptimal monetary policyEurozoneDomínio/Área Científica::Ciências Sociais::Economia e GestãoDifferences in the natural interest rates across the countries of the Eurozone implies that the monetary policy may not be optimal for each member state individually. This research uses the model developed by Laubach and Williams (2003, 2016) to estimate the natural interest rate for each country of the Eurozone-12. With these estimates I compute the natural interest rate for the Eurozone as a weighted average of the natural rates of each country. The results show that the differences in the natural rate across the Eurozone are higher in periods of asymmetric shocks. Most of the countries also present a large difference between their rates and the Eurozone natural rate. All these estimates are associated to a high degree of uncertaintyFranco, FrancescoRUNCarvalho, Alexandre Augusto Zacarias de2018-03-14T11:06:31Z2018-01-202018-01-20T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/32470TID:201861291enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:18:04Zoai:run.unl.pt:10362/32470Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:29:52.678353Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Differences in natural interest rates in the Eurozone |
title |
Differences in natural interest rates in the Eurozone |
spellingShingle |
Differences in natural interest rates in the Eurozone Carvalho, Alexandre Augusto Zacarias de Natural interest rate Kalman filter Optimal monetary policy Eurozone Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
Differences in natural interest rates in the Eurozone |
title_full |
Differences in natural interest rates in the Eurozone |
title_fullStr |
Differences in natural interest rates in the Eurozone |
title_full_unstemmed |
Differences in natural interest rates in the Eurozone |
title_sort |
Differences in natural interest rates in the Eurozone |
author |
Carvalho, Alexandre Augusto Zacarias de |
author_facet |
Carvalho, Alexandre Augusto Zacarias de |
author_role |
author |
dc.contributor.none.fl_str_mv |
Franco, Francesco RUN |
dc.contributor.author.fl_str_mv |
Carvalho, Alexandre Augusto Zacarias de |
dc.subject.por.fl_str_mv |
Natural interest rate Kalman filter Optimal monetary policy Eurozone Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
Natural interest rate Kalman filter Optimal monetary policy Eurozone Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
Differences in the natural interest rates across the countries of the Eurozone implies that the monetary policy may not be optimal for each member state individually. This research uses the model developed by Laubach and Williams (2003, 2016) to estimate the natural interest rate for each country of the Eurozone-12. With these estimates I compute the natural interest rate for the Eurozone as a weighted average of the natural rates of each country. The results show that the differences in the natural rate across the Eurozone are higher in periods of asymmetric shocks. Most of the countries also present a large difference between their rates and the Eurozone natural rate. All these estimates are associated to a high degree of uncertainty |
publishDate |
2018 |
dc.date.none.fl_str_mv |
2018-03-14T11:06:31Z 2018-01-20 2018-01-20T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10362/32470 TID:201861291 |
url |
http://hdl.handle.net/10362/32470 |
identifier_str_mv |
TID:201861291 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799137923880189952 |