Working Papers
The Working Paper series of the Oesterreichische Nationalbank is designed to disseminate and to provide a platform for discussion of either work of the staff of the OeNB economists or outside contributors on topics which are of special interest to the OeNB. To ensure the high quality of their content, the contributions are subjected to an international refereeing process.
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Opinions expressed by the authors of studies do not necessarily reflect the official viewpoint of the Oesterreichische Nationalbank or of the Eurosystem.
2024
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Working Paper 259
October 2024 Households’ risk perceptions, overplacement, and financial literacy (Tabea Bucher-Koenen, Pirmin Fessler, Maria Silgoner)/dam/jcr:8ef4cefa-ee69-4f68-8dac-9ee2a6942f6d/wp-259.pdf Full version (PDF, 1.2 MB) Download
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Working Paper 258
September 2024 The Impact of Currency Carry Trade Activity on the Transmission of Monetary Policy (Maximilian Boeck, Alina Steshkova, Thomas O. Zörner)/dam/jcr:ba86da7f-b856-435c-9286-c7c3a2ec8907/wp-258.pdf Full version (PDF, 1.4 MB) Download
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Working Paper 257
August 2024 Take it and leave it: Banks’ balance sheet optimization and targeted longer-term refinancing operations (Michael Sigmund, Johannes Wächtler, Philip Schuster, Robert Ferstl, Maria Teresa Valderrama)/dam/jcr:b47e22c4-fcfc-424e-b24e-dad13647d5d3/wp-257.pdf Full version (PDF, 1.3 MB) Download
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Working Paper 256
April 2024 Investment incomes vs. the trade balance: Is the current account still a meaningful concept? (Konstantin Wacker)/dam/jcr:6949129d-7771-4a72-a2c1-b33286266f2f/wp-256.pdf Full version (PDF, 1.1 MB) Download
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Working Paper 255
March 2024 What contributes to consumer price inflation? A novel decomposition framework with an application to Austria (Martin Schneider)/dam/jcr:69c7e1ef-4fe2-4420-9ef2-2ae896af2ab8/wp-255.pdf Full version (PDF, 1.1 MB) Download
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Working Paper 254
March 2024 The Role of MPC Heterogeneity for Fiscal and Monetary Policy in the Euro Area (Nicolas Albacete, Pirmin Fessler, Atanas Pekanov)/dam/jcr:dab57322-375a-49e8-8ae5-441abe2ca52d/wp-254.pdf Full version (PDF, 936 kB) Download
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Working Paper 253
March 2024 Multivariate assessment of interviewer-related errors in a cross-national economic survey (Lukas Olbrich, Elisabeth Beckmann, Joseph W. Sakshaug)/dam/jcr:072228b5-6cc5-49f1-8711-6b6db15973b4/wp-253.pdf Full version (PDF, 1.8 MB) Download
2023
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Working Paper 252
December 2023 Hawks vs. Doves: ECB’s Monetary Policy in Light of the Fed’s Policy Stance (Niko Hauzenberger, Florian Huber, Thomas Zörner)/dam/jcr:e87e5ea2-ceee-44f5-bce9-bcb0536ac1ae/wp-252.pdf Full version (PDF, 995 kB) Download
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Working Paper 251
December 2023 Housing and the secular decline in real interest rates (Markus Knell)/dam/jcr:3887565d-6ea6-4f94-8d66-52d125ee09ad/wp-251.pdf Full version (PDF, 1.4 MB) Download
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Working Paper 250
November 2023 Watching over 21,000 Billion Euros: Does the ECB Single Supervisory Mechanism Affect Bank Competition in the Euro Area? (Burkhard Raunig, Michael Sigmund)/dam/jcr:7d3084ef-4727-4d9a-abb6-0805651b48d6/wp-250.pdf Full version (PDF, 540 kB) Download
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Working Paper 249
October 2023 The subjective wealth distribution: How it arises and why it matters to inform policy? (Pirmin Fessler, Severin Rapp)/dam/jcr:c442f243-a839-4fd7-bc85-1d7c1b82e398/wp-249.pdf Full version (PDF, 988 kB) Download
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Working Paper 248
October 2023 Assessing the Solvency of Virtual Asset Service Providers: Are Current Standards Sufficient? (Pietro Saggese, Esther Segalla, Michael Sigmund, Burkhard Raunig, Felix Zangerl, Bernhard Haslhofer)/dam/jcr:91ee2032-1751-487b-850d-81138a68f3cd/WP-248_03112023.pdf Full version (PDF, 3.7 MB) Download
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Working Paper 247
September 2023 Inflation Expectations in CESEE: The Role of Sentiment and Experiences (Katharina Allinger, Fabio Rumler)/dam/jcr:6d065ca5-b978-4121-b77a-192c5308a9b9/WP-247.pdf Full version (PDF, 1.8 MB) Download
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Working Paper 246
May 2023 Resource Misallocation and TFP Gap Development in Austria (Richard Sellner, Nico Pintar, Norbert Ernst)/dam/jcr:b8670478-d500-4ac3-9c89-06d9fd13cf44/WP-246.pdf Full version (PDF, 2.4 MB) Download
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Working Paper 245
April 2023 Are zombie firms really contagious? (Norbert Ernst, Michael Sigmund)/dam/jcr:d9c28a1f-d00e-4342-b8b0-10c8a9cb56ba/WP-245.pdf Full version (PDF, 682 kB) Download
2022
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Working Paper 244
October 2022 The ECB Single Supervisory Mechanism: Effects on Bank Performance and Capital Requirements (Burkhard Raunig, Michael Sigmund)/dam/jcr:af0e64d6-dfff-42f8-a86a-7f03d1474347/WP-244.pdf Full version (PDF, 550 kB) Download
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Working Paper 243
July 2022 Environmental-Social-Governance Preferences and Investments in Crypto-Assets (Pavel Ciaian, Andrej Cupak, Pirmin Fessler, d’Artis Kancs)/dam/jcr:620ec055-6841-4300-9eaf-fbe7a423a0f8/WP-243-neu.pdf Full version (PDF, 1.2 MB) Download
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Working Paper 242
July 2022 The new normal: bank lending and negative interest rates in Austria (Marcel Barmeier)/dam/jcr:26df8049-e332-4582-b84b-4fa47699f4b4/WP_242.pdf Full version (PDF, 664 kB) Download
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Working Paper 241
July 2022 What can CBDC designers learn from asking potential users? Results from a survey of Austrian residents (Svetlana Abramova, Rainer Böhme, Helmut Elsinger, Helmut Stix, Martin Summer)/dam/jcr:e3199ed9-0b24-4df5-aac9-52c12c2fbe72/WP_241.pdf Full version (PDF, 881 kB) Download
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Working Paper 240
June 2022 New Facts on Consumer Price Rigidity in the Euro Area (Erwan Gautier, Cristina Conflitti, Riemer P. Faber, Brian Fabo, Ludmila Fadejeva, Valentin Jouvanceau, Jan-Oliver Menz, Teresa Messner, Pavlos Petroulas, Pau Roldan-Blanco, Fabio Rumler, Sergio Santoro, Elisabeth Wieland, Hélène Zimmer)/dam/jcr:f307799b-e465-461f-92d6-b87f20d05839/WP240.pdf Full version (PDF, 2.1 MB) Download
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Working Paper 239
May 2022 The Wealth Distribution and Redistributive Preferences: Evidence from a Randomized Survey Experiment (Nicolás Albacete, Pirmin Fessler, Peter Lindner)/dam/jcr:f551a3bf-cd08-4212-8cb2-9fd059342401/WP239.pdf Full version (PDF, 4.4 MB) Download
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Working Paper 238
February 2022 Pension Entitlements and Net Wealth in Austria (Markus Knell, Reinhard Koman)/dam/jcr:15e07a65-424b-438a-a545-680e3a7e0bfc/WP_238.pdf Full version (PDF, 940 kB) Download
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Working Paper 237
February 2022 Third-Party Loan Guarantees: Measuring Literacy and its Effect on Financial Decisions (Elisabeth Beckmann, Christa Hainz, Sarah Reiter)/dam/jcr:2687ac16-958d-4ada-8cfc-745585c99d59/WP_237.pdf Full version (PDF, 3 MB) Download
2021
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Working Paper 236
December 2021 Determinants of Contingent Convertible Bond Coupon Rates of Banks: An Empirical Analysis (Michael Sigmund, Kevin Zimmermann)/dam/jcr:82059e0b-bb23-479a-96de-ea8a1769c601/WP236.pdf Full version (PDF, 845 kB) Download
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Working Paper 235
July 2021 Bank Solvency Stress Tests with Fire Sales (Thomas Breuer, Martin Summer, Branko Urošević)/dam/jcr:31190f97-e02d-40ba-a391-642165cb5ba6/WP235.pdf Full version (PDF, 2.5 MB) Download
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Working Paper 234
May 2021 Economic Policy Uncertainty and Stock Market Volatility: A Causality Check (Burkhard Raunig)/dam/jcr:adeaa4f0-420c-42c2-9c6d-5a5afcfeb2b2/WP234_screen.pdf Full version (PDF, 389 kB) Download
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Working Paper 233
January 2021 A View from Outside: Sovereign CDS Volatility as an Indicator of Economic Uncertainty (Maximilian Böck, Martin Feldkircher, Burkhard Raunig)/dam/jcr:94e0afb8-aeec-4b34-acce-710f7be00399/Working_Paper_233.pdf Full version (PDF, 652 kB) Download
2020
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Working Paper 232
November 2020 The Capital Buffer Calibration for Other Systemically Important Institutions – Is the Country Heterogeneity in the EU caused by Regulatory Capture? (Michael Sigmund)/dam/jcr:183293a1-4376-4f1a-b1aa-6d0f0344cc22/working-paper-232.pdf Full version (PDF, 1.9 MB) Download
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Working Paper 231
July 2020 Helicopter Money in Europe: New Evidence on the Marginal Propensity to Consume across European Households (Katharina Drescher, Pirmin Fessler, Peter Lindner)/dam/jcr:ee047d45-17d8-4e4c-9df2-779cb5ebd60d/WP231.pdf Full version (PDF, 689 kB) Download
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Working Paper 230
May 2020 Financial Innovation, Payment Choice and Cash Demand – Causal Evidence from the Staggered Introduction of Contactless Debit Cards (Martin Brown,Nicole Hentschel, Hannes Mettler, Helmut Stix)/dam/jcr:73931fa1-2231-4d3b-bfa8-598675bba7d1/WP230.pdf Full version (PDF, 663 kB) Download
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Working Paper 229
March 2020 Assessing Credit Gaps in CESEE Based on Levels Justified by Fundamentals – A Comparison Across Different Estimation Approaches (Mariarosaria Comunale, Markus Eller, Mathias Lahnsteiner)/dam/jcr:37d2f4f9-6fdc-4eaa-98ef-f247340e4f26/WP229.pdf Full version (PDF, 1 MB) Download
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Working Paper 228
March 2020 Serial Correlation in Contingency Tables (Helmut Elsinger)/dam/jcr:d07470f4-92d8-4ed4-9ac7-4ecba4e4135d/WP228.pdf Full version (PDF, 840 kB) Download
2019
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Working Paper 227
October 2019 How Peer Groups Influence Economic Perceptions/dam/jcr:d8b3ea48-981b-4698-bb38-116233be6d95/WP227.pdf Full version (PDF, 1.4 MB) Download
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Working Paper 226
May 2019 Ownership and purchase intention of crypto-assets – survey results/dam/jcr:7d5679c5-17b8-427b-af6d-c4859d3e1ebb/WP226.pdf Full version (PDF, 542 kB) Download
2018
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Working Paper 225
December 2018 Systematic Systemic Stress Tests/dam/jcr:f4a72b04-d343-4e00-9c4d-89bdd0bdc848/WP225.pdf Full version (PDF, 814 kB) Download
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Working Paper 224
October 2018 Bail-in and Legacy Assets: Harmonized rules for targeted partial compensation to strengthen the bail-in regime/dam/jcr:74b1eeff-b6f6-4074-9453-addc7dabb882/WP224.pdf Full version (PDF, 364 kB) Download
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Working Paper 223
October 2018 The functions of wealth: renters, owners and capitalists across Europe and the United States/dam/jcr:78835e0a-af08-4bfe-aae4-9cd847eec57b/WP223_rev1.pdf Full version (PDF, 4.2 MB) Download
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Working Paper 222
May 2018 Income inequality and trust in national governments in Central, Eastern and Southeastern Europe/dam/jcr:7dc0585f-2bb4-4bf6-8980-c032b0ff4770/WP222.pdf Full version (PDF, 1007 kB) Download
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Working Paper 221
May 2018 International monetary policy spillovers through the bank funding channel/dam/jcr:b2b3d032-bf77-41f7-af03-576002a4aac6/WP221.pdf Full version (PDF, 523 kB) Download
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Working Paper 220
February 2018 Exploring differences in financial literacy across countries: the role of individual characteristics and institutions/dam/jcr:c6506da3-61d3-4be8-abee-cf19468c13fa/WP220.pdf Full version (PDF, 482 kB) Download
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Working Paper 219
January 2018 Economic Policy Uncertainty and the Volatility of Sovereign CDS Spreads/dam/jcr:5f276176-b95c-4a69-a333-c88915985487/WP219.pdf Full version (PDF, 219 kB) Download
2017
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Working Paper 218
December 2017 Optimal fiscal policy and sovereign debt crises/dam/jcr:8f7be62c-e8e4-4617-a93b-2b9377e53552/WP218_screen.pdf Full version (PDF, 926 kB) Download
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Working Paper 217
November 2017 Sovereign Bond Risk Premiums/dam/jcr:805fc218-84ee-4d78-b7e6-a8e7b55ce936/WP217.pdf Full version (PDF, 460 kB) Download
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Working Paper 216
October 2017 Perceptions of Inequality/dam/jcr:be84bb33-494a-4849-8f1b-46d94b51d0d5/WP216.pdf Full version (PDF, 2.4 MB) Download
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Working Paper 215
October 2017 Actuarial Deductions for Early Retirement/dam/jcr:78999490-a990-449a-80f0-0e1e6611575d/WP215.pdf Full version (PDF, 903 kB) Download
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Working Paper 214
June 2017 Regulatory Integration of International Capital Markets/dam/jcr:3fac5bd5-814e-405d-bf98-f66f44397f57/Working-Paper-214.pdf Full version (PDF, 464 kB) Download
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Working Paper 213
May 2017 Bank Lending and the European Sovereign Debt Crisis/dam/jcr:8f9d06b4-2357-480e-a5d4-fec0b15236c1/Working-Paper-213.pdf Full version (PDF, 680 kB) Download
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Working Paper 212
January 2017 The Effectiveness of Unconventional Monetary Policy Announcements in the Euro Area: An Event and Econometric Study/dam/jcr:774a56cf-aff2-4064-b0c3-4b3a55bae7c4/Working-Paper-212.pdf Full version (PDF, 542 kB) Download
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Working Paper 211
January 2017 Inequality, Perception Biases and Trust/dam/jcr:12ae3f67-37c4-4c12-9478-a41be43c966a/Working-Paper-211.pdf Full version (PDF, 847 kB) Download
2016
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Working Paper 210
November 2016 Fiscal Stimulus in a Monetary Union: Evidence from Eurozone Regions/dam/jcr:13d70309-9bb3-4374-961e-eca2cb6899aa/Working%20Paper%20210_web.pdf Full version (PDF, 1.2 MB) Download
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Working Paper 209
November 2016 Value Added and Productivity Linkages Across Countries/dam/jcr:17bca8b9-7f65-461d-95a2-42005bce37a5/Working%20Paper%20209_web.pdf Full version (PDF, 783 kB) Download
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Working Paper 208
July 2016 Unconventional US Monetary Policy: New Tools Same Channels?/dam/jcr:4937f015-3bbc-4577-983d-d8dc76b7c4a2/Working%20Paper%20208_web.pdf Full version (PDF, 735 kB) Download
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Working Paper 207
May 2016 Determinants of Credit Constrained Firms: Evidence from Central and Eastern Europe Region/dam/jcr:2a892308-7cb7-4a20-82f2-4c711dec2924/Working%20Paper%20207_web.pdf Full version (PDF, 500 kB) Download
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Working Paper 206
March 2016 Competition in Treasury Auctions/dam/jcr:ef73e8c7-6674-4725-a331-3667977ef700/Working_Paper_206_Web_neu.pdf Full version (PDF, 784 kB) Download
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Working Paper 205
February US Monetary Policy in a Globalized World/dam/jcr:36ef6e2f-a9f4-49c8-997c-853d424f588c/WP205_WEB.pdf Full version (PDF, 1.7 MB) Download
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Working Paper 204
February Background Indicators/dam/jcr:c77fecd2-80ee-4de8-8d95-6181528c08a1/WP204_WEB.pdf Full version (PDF, 293 kB) Download
2015
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Working Paper 203
June Why Are Banks Not Recapitalized During Crises?/dam/jcr:f04922d8-81ca-49d0-b732-f95010faa19c/Working%20Paper%20203_WEB.pdf Full version (PDF, 860 kB) Download
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Working Paper 202
June Sovereign Risk and Bank Risk-Taking/dam/jcr:a5e4a781-63fa-456f-8020-d997cf76531f/Working%20Paper%20202.pdf Full version (PDF, 1.3 MB) Download
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Working Paper 201
June The Return on Social Security with Increasing Longevity/dam/jcr:2f24db8c-a1c8-4332-bec7-5196b51368cf/wp201.pdf Full version (PDF, 2.2 MB) Download
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Working Paper 200
March 2015 Does Joint Modelling of the World Economy Pay Off? Evaluating Global Forecasts from a Bayesian GVAR/dam/jcr:eaf839af-342e-428f-842f-f25d4aab71b7/WP200_screen.pdf Full version (PDF, 690 kB) Download
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Working Paper 199
January 2015 Shock Transmission through International Banks: Austria/dam/jcr:6d3b6474-ccec-48d1-acaf-79a01832c886/WP199_screen.pdf Full version (PDF, 5.1 MB) Download
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Working Paper 198
January 2015 Spillovers from Euro Area and U.S. Credit and Demand Shocks: Comparing Emerging Europe on the Basis of a GVAR Model/dam/jcr:3dd7d44d-f12e-49d2-8b68-975b02362ded/WP198.pdf Full version (PDF, 736 kB) Download
2014
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Working Paper 197
November 2014 The Euroization of Bank Deposits in Eastern Europe/dam/jcr:c30da0fc-beab-40e6-b8b5-d3d707bc81cf/WP197_screen.pdf Full version (PDF, 670 kB) Download
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Working Paper 196
September 2014 The Role of Card Acceptance in the Transaction Demand for Money/dam/jcr:5cbab734-1d67-4d43-921e-9d063d9de3e2/Working%20Paper%20196_screen.pdf Full version (PDF, 315 kB) Download
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Working Paper 195
July 2014 The International Transmission of U.S. Structural Shocks – Evidence from Global Vector Autoregressions/dam/jcr:b917f144-46e7-44ff-abd7-4b8446547222/Working%20Paper%20195_screen.pdf Full version (PDF, 801 kB) Download
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Working Paper 194
June 2014 Do Banks Lend Less in Uncertain Times?/dam/jcr:e1927057-edce-47bc-9879-fc22292abf28/WP194_screen.pdf Full version (PDF, 521 kB) Download
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Working Paper 193
May 2014 “Made in China” – How Does it Affect Measures of Competitiveness?/dam/jcr:d0d313aa-1ef3-40f6-a1cf-c803bd738666/WP193_19.5.2014_screen.pdf Full version (PDF, 762 kB) Download
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Working Paper 192
May 2014 Consumer Cash Usage: A Cross-Country Comparison with Payment Diary Survey Data/dam/jcr:ca5a831c-d876-4603-b029-b02489b7a3bf/WP192_16.5.2014_screen.pdf Full version (PDF, 452 kB) Download
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Working Paper 191
May 2014 Systemic Sovereign Risk: Macroeconomic Implications in the Euro Area/dam/jcr:900ed783-23eb-4e14-acfe-738542970590/Working%20Paper%20191_screen.pdf Full version (PDF, 1.1 MB) Download
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Working Paper 190
May 2014 Information Frictions and the Law of One Price: “When the States and the Kingdom became United”/dam/jcr:838db71d-1e7b-42c1-a8bb-cff17531c44e/Working%20Paper%20190_screen.pdf Full version (PDF, 1.9 MB) Download
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Working Paper 189
March 2014 Forecasting with Bayesian Global Vector Autoregressive Models: A Comparison of Priors/dam/jcr:a27bd5b7-6594-45d1-9f47-de9cee9f8207/WP189_screen.pdf Full version (PDF, 646 kB) Download
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Working Paper 188
March 2014 Foreign currency borrowing and knowledge about exchange rate risk/dam/jcr:0bb31530-14bb-4163-9cb8-83808806dd6c/WP188_screen.pdf Full version (PDF, 389 kB) Download
2013
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Working Paper 187
December 2013 Collateral, Liquidity and Debt Sustainability/dam/jcr:539234e8-389a-4e36-941c-0d2c794d25ac/WP187_screen.pdf Full version (PDF, 1.2 MB) Download
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Working Paper 186
September 2013 One Money, One Cycle? The EMU Experience/dam/jcr:bae54c85-0df9-4cba-82d6-d54ecea192bd/wp186_screen_tcm14-258129.pdf Full version (PDF, 631 kB) Download
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Working Paper 185
September 2013 A Global Macro Model for Emerging Europe/dam/jcr:f53b8525-5a02-419c-b91b-988c1d8bba7d/WP185.pdf Full version (PDF, 870 kB) Download
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Working Paper 184
July 2013 Endogenous Leverage and Asset Pricing in Double Auctions/dam/jcr:2fb1fdaf-2555-4503-a5d6-ac5c267710d3/wp184_screen_tcm16-256982.pdf Full version (PDF, 1.9 MB) Download
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Working Paper 183
June 2013 Efficient Fiscal Spending by Supranational Unions/dam/jcr:ef9f0db0-7c1c-4ea6-b7e6-2f4ad4e0f7b3/working_paper_183_screen_tcm16-255980.pdf Full version (PDF, 1.3 MB) Download
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Working Paper 182
June 2013 International Debt Deleveraging/dam/jcr:c37883da-72f5-47ae-be42-8c135002ed92/wp182_screen_tcm16-255978.pdf Full version (PDF, 628 kB) Download
2012
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Working Paper 181
November 2012 Foreign Currency Loans and Loan Arrears of Households in Central and Eastern Europe/dam/jcr:9e73cfba-02d8-4913-b53b-c5965b9c9fa8/wp181_screen_tcm16-251629.pdf Full version (PDF, 381 kB) Download
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Working Paper 180
September 2012 Have Changes in the Financial Structure Affected Bank Profitability? Evidence for Austria/dam/jcr:770b4269-9ef1-4b2f-875d-c9c8b71d3472/wp180_internet_tcm16-250288.pdf Full version (PDF, 428 kB) Download
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Working Paper 179
August 2012 Increasing Life Expectancy and Pay-As-You-Go Pension Systems/dam/jcr:b8a16909-2bd2-496f-9167-f1af0cd54a14/working_paper_179_internet_tcm16-249865.pdf Full version (PDF, 2.1 MB) Download
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Working Paper 178
July 2012 Why Do People Save in Cash? Distrust, Memories of Banking Crises, Weak Institutions and Dollarization/dam/jcr:71d323d6-3720-4abf-ba7a-f206ba35052b/working_paper_178_tcm16-249425.pdf Full version (PDF, 2 MB) Download
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Working Paper 177
January 2012 A structural interpretation of the impact of the great recession on the Austrian economy using an estimated DSGE model/dam/jcr:4594479f-5c24-480e-aa03-e52504e3f6d3/wp177_internet_tcm16-243304.pdf Full version (PDF, 848 kB) Download
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Working Paper 176
January 2012 Multiple Imputation in the Austrian Household Survey on Housing Wealth/dam/jcr:5ca29833-8fd4-44fc-9fdf-ce322c7b3a70/wp176_internet_tcm16-242939.pdf Full version (PDF, 805 kB) Download
2011
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Working Paper 175
December 2011 How Does Quality Impact on Import Prices?/dam/jcr:4fca7404-b93e-4bba-895e-fb98516b450f/wp175_tcm16-242934.pdf Full version (PDF, 498 kB) Download
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Working Paper 174
October 2011 Regulatory Medicine Against Financial Market Instability: What Helps And What Hurts?/dam/jcr:aefbbe58-021b-4514-b96c-6ffb4aaefc0a/wp174_tcm16-240232.pdf Full version (PDF, 752 kB) Download
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Working Paper 173
October 2011 Decomposition of Wealth and Income using Micro Data from Austria/dam/jcr:5956c4e6-7c34-4678-b200-8f2f1a21a59b/wp173_tcm16-239683.pdf Full version (PDF, 881 kB) Download
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Working Paper 172
September 2011 Credit Risk in General Equilibrium/dam/jcr:33782bd9-84a5-4f36-83e2-57fb19fba322/wp172_tcm16-239052.pdf Full version (PDF, 1.6 MB) Download
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Working Paper 171
September 2011 Households’ Foreign Currency Borrowing in Central and Eastern Europe/dam/jcr:ee6bbe5c-a474-4d75-9536-ba18fb849444/wp171_tcm16-239053.pdf Full version (PDF, 795 kB) Download
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Working Paper 170
"" 2011 Bank Bailouts, International Linkages and Cooperation/dam/jcr:6ce1fb83-54ef-46f8-9f9e-7f576552af61/wp170_tcm16-232986.pdf Full version (PDF, 474 kB) Download
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Working Paper 169
May 2011 Can Regional Transfers Buy Public Support? Evidence from EU Structural Policy/dam/jcr:83e40374-13fd-459c-b8ee-a9c10fcb1099/wp169_tcm16-232985.pdf Full version (PDF, 1.2 MB) Download
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Working Paper 168
November 5 Stock Market Volatility, Consumption and Investment; An Evaluation of the Uncertainty Hypothesis Using Post-War U.S. Data/dam/jcr:f98d7e10-1e41-40c2-ae1d-775154ebb7d8/wp168_tcm16-232941.pdf Full version (PDF, 351 kB) Download
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Working Paper 167
May 2011 Does the Broad Public Want to Consolidate Public Debt? – The Role of Fairness and of Policy Credibility/dam/jcr:b4a596d1-d728-4bdf-9601-bc9d34fa1ecb/wp167_tcm16-232939.pdf Full version (PDF, 368 kB) Download
2010
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Working Paper 166
December 2010 Firms’ Reactions to the Crisis and their Consequences for the Labour Market. Results of a Company Survey conducted in Austria/dam/jcr:83af53b8-424f-4ca5-a35a-a9a989871bc1/wp166_tcm16-216689.pdf Full version (PDF, 382 kB) Download
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Working Paper 165
September 2010 Independence Tests based on Symbolic Dynamics/dam/jcr:5390f35e-bf75-43c4-9d1a-248a26728d2a/wp165_screen_tcm16-208851.pdf Full version (PDF, 1.2 MB) Download
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Working Paper 164
September 2010 Bank-Lending Standards, the Cost Channel and Inflation Dynamics/dam/jcr:33c330eb-5d4e-4a79-a35a-a971fce51cce/wp164_tcm16-205277.pdf Full version (PDF, 413 kB) Download
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Working Paper 163
August 2010 Short-term forecasting GDP with a DSGE model augmented by monthly indicators/dam/jcr:53f305df-2b33-4348-961d-9aab98b6767c/wp163_tcm16-205276.pdf Full version (PDF, 847 kB) Download
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Working Paper 162
May 2010 Has the Euro changed the Business Cycle?/dam/jcr:8a92a434-ad66-49cd-858d-12abdad1a14b/wp_162_screen_enders_tcm16-192502.pdf Full version (PDF, 740 kB) Download
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Working Paper 161
March 2010 Nominal and Real Wage Rigidities. In Theory and in Europe/dam/jcr:5e87f130-bbec-4b0a-9f11-12c271f91405/wp_161_screen_knell_tcm16-188543.pdf Full version (PDF, 415 kB) Download
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Working Paper 160
January 2010 Spatial Filtering, Model Uncertainty and the Speed of Income Convergence in Europe/dam/jcr:64b56008-61a2-472f-aa7b-21caa6c33389/wp160_tcm16-180631.pdf Full version (PDF, 441 kB) Download
2009
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Working Paper 159
November 2009 Euroization in Central, Eastern and Southeastern Europe – New Evidence On Its Extent and Some Evidence On Its Causes/dam/jcr:7a9b8c11-8ff1-40af-9035-e6ecab3a6dc1/wp159_tcm16-144505.pdf Full version (PDF, 635 kB) Download
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Working Paper 158
November 2009 Trust in Banks? Evidence from normal times and from times of crises/dam/jcr:a7c15481-85b8-4854-b263-b27a6a075e41/wp158_tcm16-143616.pdf Full version (PDF, 1 MB) Download
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Working Paper 157
July 2009 The sensitivity of DSGE models’ results to data detrending/dam/jcr:6846d6d0-067a-4bb3-8bae-6483fbc1cf2d/wp157_tcm16-140824.pdf Full version (PDF, 300 kB) Download
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Working Paper 156
May 2009 Financial Networks, Cross Holdings, and Limited Liability/dam/jcr:b2f1721c-7af9-4646-9568-d93faec67bac/wp156_tcm16-138413.pdf Full version (PDF, 416 kB) Download
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Working Paper 155
May 2009 Systemic Risk: Amplification Effects, Externalities, and Policy Responses/dam/jcr:8db50a61-8035-41cb-a401-b7f756233fb0/wp155_tcm16-111934.pdf Full version (PDF, 432 kB) Download
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Working Paper 154
May 2009 Country Size, Currency Unions, and International Asset Returns/dam/jcr:7e974ada-d900-444c-b1fb-dede2e7a01bf/wp154_tcm16-111932.pdf Full version (PDF, 689 kB) Download
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Working Paper 153
March 2009 The Impact of Reference Norms on Inflation Persistence When Wages are Staggered/dam/jcr:00f033a9-93cb-4a5b-9f00-d6885fa4e754/wp153_tcm16-98524.pdf Full version (PDF, 927 kB) Download
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Working Paper 152
February 2009 Are Banks Different? Evidence from the CDS Market/dam/jcr:b5adbc57-67bf-474e-9fbe-91f23f3b8031/wp152_tcm16-97773.pdf Full version (PDF, 343 kB) Download
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Working Paper 151
February 2009 Why did we fail to predict GDP during the last cycle? A breakdown of forecast errors for Austria/dam/jcr:594c7acb-cf61-42b3-bb71-56a5856012ab/wp151_tcm16-97772.pdf Full version (PDF, 339 kB) Download
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Working Paper 150
February 2009 How to find plausible, severe, and useful stress scenarios/dam/jcr:514ec0e3-987d-4d08-8da2-4cccb096f422/wp150_tcm16-97771.pdf Full version (PDF, 447 kB) Download
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Working Paper 149
January 2009 Expected Monetary Policy and the Dynamics of Bank Lending Rates/dam/jcr:6a7cecec-5430-41a1-8d12-109011594ca6/wp149_tcm16-97770.pdf Full version (PDF, 309 kB) Download
2008
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Working Paper 148
September 2008 Comparing the New Keynesian Phillips Curve with Time Series Models to Forecast Inflation/dam/jcr:d149cc9d-9e09-4a72-998f-77caf4d3ea7d/wp148_tcm16-92824.pdf Full version (PDF, 432 kB) Download
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Working Paper 147
September 2008 Inequality and growth: Goal conflict or necessary prerequisite?/dam/jcr:06aef17c-1f7c-4ffc-8843-8f4bd5a545f1/wp147_tcm16-92028.pdf Full version (PDF, 439 kB) Download
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Working Paper 146
September 2008 The Optimal Mix Between Funded and Unfunded Pensions System When People Care About Relative Consumption/dam/jcr:08d744ca-b49b-457a-a2be-e75e1a2e4849/wp146_tcm16-92027.pdf Full version (PDF, 639 kB) Download
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Working Paper 145
July 2008 Transmission of business cycle shocks between the US and the euro area/dam/jcr:5366269c-f98a-4f9a-b491-8d92a7b73db1/wp145_tcm16-88722.pdf Full version (PDF, 483 kB) Download
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Working Paper 144
June 2008 Dating and forecasting turning points by Bayesian clustering with dynamic structure: A suggestion with an application to Austrian data./dam/jcr:49334027-4571-492a-af56-04f9ddc08c6b/wp144_tcm16-88579.pdf Full version (PDF, 539 kB) Download
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Working Paper 143
May 2008 Risk-Premia, Carry-Trade Dynamics, and Speculative Efficiency of Currency Markets/dam/jcr:3365425c-ddfc-4949-9ab6-1ab15788886f/wp143_tcm16-88211.pdf Full version (PDF, 727 kB) Download
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Working Paper 142
April 2008 Testing the tax competition theory: How elastic are national tax bases in Western Europe?/dam/jcr:53b36c96-30d5-40c3-975b-ffd56cdec020/wp142_tcm16-84945.pdf Full version (PDF, 983 kB) Download
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Working Paper 141
April 2008 The Real Consequences of Financial Market Integration when Countries Are Heterogeneous/dam/jcr:00d8c151-0f1b-456a-996a-1db60da897c1/wp141_tcm16-84944.pdf Full version (PDF, 773 kB) Download
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Working Paper 140
March 2008 Euroization: What Factors drive its Persistence?/dam/jcr:dd3719ce-2927-4d38-a075-4e45c8fb0fd0/wp140_tcm16-84943.pdf Full version (PDF, 466 kB) Download
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Working Paper 139
January 2008 Mr. Wicksell and the global economy: What drives real interest rates?/dam/jcr:31341ece-84b6-41f7-b3d2-12de35544acd/wp139_tcm16-81420.pdf Full version (PDF, 433 kB) Download
2007
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Working Paper 138
July 2007 Real Convergence, Price Level Convergence and Inflation Differentials in Europe/dam/jcr:84b5882e-0c14-414d-ae48-5abfd90f2a2a/wp138_tcm16-58143.pdf Full version (PDF, 707 kB) Download
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Working Paper 137
May 2007 Transmission of Business Cycle Shocks between Unequal Neighbours: Germany and Austria/dam/jcr:720f29a4-f663-466c-89f8-cbab9fecb25f/wp137_tcm16-56846.pdf Full version (PDF, 559 kB) Download
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Working Paper 136
May 2007 The Relative Importance of Symmetric and Asymmetric Shocks: the Case of United Kingdom and Euro Area/dam/jcr:503baf20-f4c7-4541-b80f-0d45a87db6c8/wp136_tcm16-56845.pdf Full version (PDF, 614 kB) Download
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Working Paper 135
May 2007 Has the EU’s Single Market Programme Fostered Competition? Testing for a Decrease in Markup Rations in EU Industries/dam/jcr:67fda6c8-a0d6-4fef-a9a1-47feac9602a9/wp135_tcm16-56844.pdf Full version (PDF, 465 kB) Download
2006
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Working Paper 134
December 2006 Central Bank Interventions, Communication and Interest Rate Policy in Emerging European Economies/dam/jcr:6cb1bd09-0fd3-4b9d-b246-01cc916838a5/wp134_tcm16-51029.pdf Full version (PDF, 756 kB) Download
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Working Paper 133
November 2006 A Deliberative Independent Central Bank/dam/jcr:49de8efb-5945-4bb1-af1a-1e30bb19fd8b/wp133_tcm16-49232.pdf Full version (PDF, 503 kB) Download
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Working Paper 132
September 2006 AQM-06: The Macro economic Model of the OeNB/dam/jcr:44792030-38b0-4e42-ab64-0eabdb0d6162/wp132_tcm16-46515.pdf Full version (PDF, 927 kB) Download
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Working Paper 131
September 2006 Expected Money Growth, Markov Trends and the Instability of Money Demand in the Euro Area/dam/jcr:dca5bacc-22a7-4db0-8f36-f2d655bba434/wp131_tcm16-46514.pdf Full version (PDF, 543 kB) Download
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Working Paper 130
August 2006 A Worldwide System of Reference Rates/dam/jcr:154677f1-a8a7-44f1-abaf-b775d70d0b16/wp130_tcm16-45729.pdf Full version (PDF, 477 kB) Download
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Working Paper 129
July 2006 Are Monetary Rules and Reforms Complements or Substitutes? A Panel Analysis for the World versus OECD Countries/dam/jcr:fff2cb40-f810-4226-a02a-55bf525d6fc3/wp129_tcm16-45583.pdf Full version (PDF, 494 kB) Download
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Working Paper 128
June 2006 Three Lectures on Monetary Theory and Policy: Speaking Notes and Background Papers/dam/jcr:cc5fa3b5-43ac-4ac4-ae58-606731cdc66d/wp128_tcm16-43013.pdf Full version (PDF, 654 kB) Download
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Working Paper 127
June 2006 Proposal for a Common Currency among Rich Democracies/dam/jcr:09789978-0f3a-42fe-b85c-4366a75512fd/wp127_tcm16-42690.pdf Full version (PDF, 582 kB) Download
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Working Paper 126
June 2006 Monetary Unions, External Shocks and Economic Performance/dam/jcr:cdaf9310-28a3-497d-82e1-82066805b133/wp126_tcm16-42689.pdf Full version (PDF, 529 kB) Download
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Working Paper 125
June 2006 Regional Currency Arrangements: Insights from Europe/dam/jcr:ef7e74a1-1b62-4801-a996-6cea6d748d87/wp125_tcm16-42688.pdf Full version (PDF, 550 kB) Download
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Working Paper 124
May 2006 Responses to Monetary Policy Shocks in the East and the West of Europe: A Comparison/dam/jcr:f0711da9-8160-4278-9149-cd7e0eeba7d8/wp124_tcm16-42285.pdf Full version (PDF, 542 kB) Download
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Working Paper 123
May 2006 The Mystique of Central Bank Speak/dam/jcr:de5a7fdd-bb6c-4361-b52e-099ddafd9758/wp123_tcm16-42284.pdf Full version (PDF, 478 kB) Download
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Working Paper 122
May 2006 Exchange-Rate Arrangements an Financial Integration in East Asia: On a Collision Course?/dam/jcr:3b528ba1-689b-4557-b7e2-989982b96c2f/wp122_tcm16-42283.pdf Full version (PDF, 728 kB) Download
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Working Paper 121
May 2006 Regional Currency Arrangements in North America/dam/jcr:a59e2750-b6cf-4e4d-8923-41cddb4cb80a/wp121_tcm16-42282.pdf Full version (PDF, 743 kB) Download
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Working Paper 120
April 2006 Europe’s Hard Fix: The Euro Area/dam/jcr:4300c508-70df-4bde-b740-b57274595b2f/wp120_tcm16-42281.pdf Full version (PDF, 707 kB) Download
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Working Paper 119
March 2006 An Unobserved Components Model to Forecast Austrian GDP/dam/jcr:cc80d9d4-913c-4864-acce-1bb2429ef347/wp119__tcm16-40483.pdf Full version (PDF, 540 kB) Download
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Working Paper 118
March 2006 Interest Rate Pass-Through, Monetary Policy Rules and Macroeconomic Stability/dam/jcr:74817f3f-cd8d-49fc-ae7c-043e99f528cb/wp118__tcm16-40482.pdf Full version (PDF, 458 kB) Download
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Working Paper 117
March 2006 Do Bank-Based Financial Systems Reduce Macroeconomic Volatility by Smoothing Interest Rates?/dam/jcr:61d322bf-1a9f-4435-9ba4-cc87a6b7d2b3/wp117__tcm16-40481.pdf Full version (PDF, 393 kB) Download
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Working Paper 116
March 2006 Financial Systems and the Cost Channel Transmission of Monetary Policy Shocks/dam/jcr:1641133c-54b1-4bef-a23b-4a47bce6be02/wp116__tcm16-40477.pdf Full version (PDF, 423 kB) Download
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Working Paper 115
February 2006 The London Stock Exchange in the 19th Century: Ownership Structures, Growth and Performance/dam/jcr:728ab5d7-b672-44d9-8dea-7ad33d428027/wp115__tcm16-38822.pdf Full version (PDF, 416 kB) Download
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Working Paper 114
February 2006 The Determinants of Multinational Banking during the First Globalization, 1870–1914/dam/jcr:1dfaddc1-b61b-4742-a75c-a742d12ba422/wp114__tcm16-38818.pdf Full version (PDF, 769 kB) Download
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Working Paper 113
January 2006 Lessons from Italian Monetary Unification/dam/jcr:6543a336-b8ab-4232-9569-51b81b63f4dc/wp113_tcm16-38082.pdf Full version (PDF, 638 kB) Download
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Working Paper 112
January 2006 Did Genoa and Venice Kick a Financial Revolution in the Quattrocento?/dam/jcr:36061deb-b375-42d6-b1cb-13989f6ed5a1/wp112_tcm16-38081.pdf Full version (PDF, 531 kB) Download
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Working Paper 111
January 2006 European Financial Market Integration in the Gründerboom and Gründerkrach: Evidence from European Cross-Listings/dam/jcr:09edc228-acf1-4058-851e-b78fef1c987e/wp111_tcm16-38080.pdf Full version (PDF, 1 MB) Download
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Working Paper 110
January 2006 Does Diversification Improve the Performance of German Banks? Evidence from Individual Bank Loan Portfolios/dam/jcr:29720c1a-2452-49da-8eae-709d620319e8/wp110_tcm16-38079.pdf Full version (PDF, 346 kB) Download
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Working Paper 109
February 2006 Bankruptcy Law, Creditors’ Rights and Contractual Exchange in Europe, 1808–1914/dam/jcr:40a4d296-d664-46d6-aefe-2c02f7a007ba/wp109_tcm16-38078.pdf Full version (PDF, 410 kB) Download
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Working Paper 108
January 2006 European Banks and their Impact on the Banking Industry in Chile/dam/jcr:e0030cd2-1833-4dd2-8b16-af07d4392ca2/wp108_tcm16-38077.pdf Full version (PDF, 693 kB) Download
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Working Paper 107
January 2006 Legal-Political Factors and the Historical Evolution of the Finance-Growth Link/dam/jcr:e7097101-4f88-4021-9256-10263a4efd95/wp107_tcm16-38076.pdf Full version (PDF, 609 kB) Download
2005
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Working Paper 106
November 2005 Equilibrium Exchange Rates in Transition Economies: Taking Stock of the Issues/dam/jcr:6d61b5b0-c0bf-47fa-8f9d-d4f8f8e91407/wp106_tcm16-36593.pdf Full version (PDF, 840 kB) Download
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Working Paper 105
October 2005 Trade Integration of Central and Eastern European Countries: Lessons from a Gravity Model/dam/jcr:0e5ca0f8-d987-4769-995e-a09178fa6e12/wp105_tcm16-36591.pdf Full version (PDF, 551 kB) Download
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Working Paper 104
September 2005 AQM – The Austrian Quarterly Model of the Oesterreichische Nationalbank/dam/jcr:797fbe41-cb7b-489f-b57b-608f3e0ce4aa/wp104_tcm16-32144.pdf Full version (PDF, 2.6 MB) Download
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Working Paper 103
September 2005 Does Money Matter for Inflation in the Euro Area?/dam/jcr:37677ef8-f533-4da4-9468-aec4c08fb0dc/wp103_tcm16-32143.pdf Full version (PDF, 374 kB) Download
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Working Paper 102
August 2005 Estimates of the Open Economy New Keynesian Phillips Curve for Euro Area Countries/dam/jcr:351b7ad6-4c1b-4e99-b225-ee6afbe87fce/wp102_tcm16-30802.pdf Full version (PDF, 478 kB) Download
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Working Paper 101
July 2005 How Frequently Do Consumer Prices Change in Austria? Evidence from Micro CPI Data/dam/jcr:41b739be-60d4-4200-b2a0-20c9d5e8911d/wp101_tcm16-30801.pdf Full version (PDF, 1.1 MB) Download
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Working Paper 100
July 2005 The Price-Setting Behavior of Austrian Firms: Some Survey Evidence/dam/jcr:af5b8947-069b-4897-9e27-ae37d858b6d5/wp100_tcm16-30800.pdf Full version (PDF, 833 kB) Download
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Working Paper 99
May 2005 The Effect of Capital Requirement Regulation on the Transmission of Monetary Policy: Evidence from Austria/dam/jcr:a35fa769-df00-42fb-a705-f8c919a43eeb/wp99_tcm16-28885.pdf Full version (PDF, 591 kB) Download
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Working Paper 98
May 2005 The European Monetary Union as a Commitment Device for New EU Member States/dam/jcr:c92f84fb-13ff-4066-8788-266bef5ef57c/wp98_tcm16-28195.pdf Full version (PDF, 678 kB) Download
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Working Paper 97
May 2005 Financial Differences and Business Cycle Co-Movements in A Currency Area/dam/jcr:b8ba1a3e-b4ea-4ea2-945d-320f777b4919/wp97_tcm16-27320.pdf Full version (PDF, 862 kB) Download
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Working Paper 96
March 2005 Managerial Behavior and Cost/Profit Efficiency in the Banking Sectors of Central and Eastern European Countries/dam/jcr:0c81fef8-c381-4dc8-a527-7462da792b43/wp96_tcm16-27319.pdf Full version (PDF, 522 kB) Download
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Working Paper 95
February 2005 On the Design of Sustainable and Fair PAYG Pension Systems When Cohort Sizes Change/dam/jcr:7daa718c-8589-4350-812c-ff6fc44414f3/wp95_tcm16-24794.pdf Full version (PDF, 1.1 MB) Download
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Working Paper 94
December 2004 What Do German Short-Term Interest Rates Tell Us About Future Inflation?/dam/jcr:fbe16ad9-2628-4885-a2df-9bfeaf409544/wp94_tcm16-24793.pdf Full version (PDF, 1.7 MB) Download
2004
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Working Paper 93
December 2004 Understanding the Stock Market’s Response to Monetary Policy Shocks/dam/jcr:18e9d8d2-92cb-4bf3-9420-4c53acbe9adc/wp93_tcm16-24128.pdf Full version (PDF, 414 kB) Download
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Working Paper 92
November 2004 Exchange Rate Regimes Past, Present and Future/dam/jcr:c9287943-c99f-455f-a506-6281f77692f4/wp92_tcm16-22389.pdf Full version (PDF, 782 kB) Download
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Working Paper 91
October 2004 Forecasting Austrian Inflation/dam/jcr:fd904f7f-0944-4a24-a147-83060bb4c1ea/wp91_tcm16-22388.pdf Full version (PDF, 3.8 MB) Download
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Working Paper 90
September 2004 Modeling Credit Aggregates/dam/jcr:ff4fb5a9-7a20-42b9-8e5e-62f3bb415546/wp90_1__tcm16-20425.pdf Full version (PDF, 660 kB) Download
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Working Paper 89
August 2004 Forecasting Austrian GDP using the generalized dynamic factor model./dam/jcr:c8336503-a27e-441e-8c4d-36eb2bc0f91c/wp89_1__tcm16-20424.pdf Full version (PDF, 822 kB) Download
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Working Paper 88
June 2004 Three Decades of Money Demand Studies. Some Differences and Remarkable Similarities./dam/jcr:69279372-c975-4d40-8dba-304201ce2287/wp88_internet_1__tcm16-9848.pdf Full version (PDF, 430 kB) Download
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Working Paper 87
May 2004 Bank Capital, Liquidity and Systemic Risk/dam/jcr:7ba9dde2-4329-4705-a683-f295dfb93556/wp87_1__tcm16-9846.pdf Full version (PDF, 555 kB) Download
2003
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Working Paper 86
September 2003 Testing for Longer Horizon Predictability of Return Volatility with an Application to the German/dam/jcr:3bc4e091-d3f2-4fa9-a77c-9e012c58cb8b/wp86_tcm16-6180.pdf Full version (PDF, 404 kB) Download
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Working Paper 85
July 2003 Investigating asymmetries in the bank lending channel. An analysis using Austrian banks’ balance sheet data./dam/jcr:8fe8532c-b5c9-478e-9fd5-f3f1901ddf9b/wp85_tcm16-6179.pdf Full version (PDF, 1.5 MB) Download
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Working Paper 84
July 2003 Searching for the Natural Rate of Interest: a Euro-Area Perspective/dam/jcr:2d16f188-9f7b-451a-a73c-74d5fcffe8d0/wp84_tcm16-6177.pdf Full version (PDF, 356 kB) Download
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Working Paper 83
July 2003 The business cycle of European countries Bayesian clustering of country - individual IP growth series/dam/jcr:a6773427-1199-488a-8dda-83dd625bc216/wp83_tcm16-6176.pdf Full version (PDF, 503 kB) Download
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Working Paper 82
July 2003 How Do Debit Cards Affect Cash Demand? Survey Data Evidence/dam/jcr:84577ce9-e4bb-496f-a6e7-c840fd4a6a45/wp82_tcm16-6175.pdf Full version (PDF, 354 kB) Download
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Working Paper 81
June 2003 How Robust are Money Demand Estimations? A Meta-Analytic Approach/dam/jcr:72ecb8a7-6bde-4559-836d-ed7d8d9f4ce4/wp81_tcm16-6174.pdf Full version (PDF, 524 kB) Download
2002
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Working Paper 80
November 2002 Does Central Bank Intervention Influence the Probability of a Speculative Attack? Evidence from the EMS/dam/jcr:47e7a378-4d58-4bc4-b511-f5ff22e51f19/wp80_tcm16-6173.pdf Full version (PDF, 649 kB) Download
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Working Paper 79
October 2002 Risk Assessment for Banking Systems/dam/jcr:c1c1c578-ff73-4b43-829f-ee780d33857c/wp79_tcm16-6172.pdf Full version (PDF, 819 kB) Download
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Working Paper 78
October 2002 Job Creation and Job Destruction in a Regulated Labor Market: The Case of Austria/dam/jcr:ac399a9c-78e8-400e-b7f4-72a817ebb4f4/wp78_tcm16-6171.pdf Full version (PDF, 398 kB) Download
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Working Paper 77
October 2002 Why did Central Banks Intervene in the EMS? The Post 1993 Experience/dam/jcr:5507ab7a-d1ad-45ca-a257-76d665091e53/wp77_tcm16-6170.pdf Full version (PDF, 941 kB) Download
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Working Paper 76
October 2002 The Potential Consequences of Alternative Exchange Rate Regimes: A Study of Three Candidate Regions/dam/jcr:b899fb84-e6c7-42b9-96c9-e7b9ab474fb3/wp76_tcm16-6169.pdf Full version (PDF, 828 kB) Download
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Working Paper 75
October 2002 Central European EU Accession and Latin American Integration: Mutual Lessons in Macro-Economic Policy Design/dam/jcr:127982dc-ca07-477e-8aed-b2ffc38e5b53/wp75_tcm16-6167.pdf Full version (PDF, 1 MB) Download
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Working Paper 74
September 2002 The Great Exchange Rate Debate after Argentina/dam/jcr:b67c8e1f-6a42-4866-ac3d-0220e6b3ab6a/wp74_tcm16-6164.pdf Full version (PDF, 406 kB) Download
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Working Paper 73
August 2002 Forecasting Austrian HICP and its Components using VAR and ARIMA Models/dam/jcr:c385b784-c1eb-4b82-8e4e-83eec7e42a75/wp73_tcm16-6163.pdf Full version (PDF, 476 kB) Download
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Working Paper 72
August 2002 Monetary Integration in the Southern Cone: Mercosur is not like the EU?/dam/jcr:d39a4ba1-a0e6-411a-b86d-c017779a7e8f/wp72_tcm16-6162.pdf Full version (PDF, 1.5 MB) Download
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Working Paper 71
August 2002 EMU and Accession Countries: Fuzzy Cluster Analysis of Membership/dam/jcr:dfba4d77-a7ef-4558-b173-8fa982fd2f93/wp71_tcm16-6161.pdf Full version (PDF, 633 kB) Download
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Working Paper 70
August 2002 Fiscal and Monetary Policy Coordination in EMU/dam/jcr:13e8506f-a563-4fbb-9dec-c96af72a381b/wp70_tcm16-6160.pdf Full version (PDF, 714 kB) Download
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Working Paper 69
July 2002 Reflections on the Optimal Currency Area (OCA) criteria in the light of EMU/dam/jcr:bb4c0c61-cd61-4a34-9054-8cdc79c742a1/wp69_tcm16-6158.pdf Full version (PDF, 406 kB) Download
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Working Paper 68
July 2002 Monetary Union: European Lessons, Latin American Prospects/dam/jcr:72b419dd-d465-4b42-898e-5ac7244408e4/wp68_tcm16-6157.pdf Full version (PDF, 407 kB) Download
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Working Paper 67
July 2002 An Evaluation of Monetary Regime Options for Latin America/dam/jcr:03e0719a-1fc1-445d-b2eb-4b145357ef63/wp67_tcm16-6156.pdf Full version (PDF, 1 MB) Download
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Working Paper 66
July 2002 Growth, Integration, and Macroeconomic Policy Design: Some Lessons for Latin America/dam/jcr:a971a4f9-c27d-4613-bd04-b62e00eb31cf/wp66_tcm16-6155.pdf Full version (PDF, 315 kB) Download
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Working Paper 65
July 2002 Dollarization and Economic Performance: What Do We Really Know?/dam/jcr:2f4473c8-6502-4108-887b-696a4601ef08/wp65_tcm16-6154.pdf Full version (PDF, 429 kB) Download
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Working Paper 64
June 2002 The Federal Design of a Central Bank in Monetary Union: The Case of the European System of Central Banks/dam/jcr:09af4543-6de8-4b27-9203-ceba6d3b41e9/wp64_tcm16-6153.pdf Full version (PDF, 341 kB) Download
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Working Paper 63
May 2002 Wage Formation in Open Economies and the Role of Monetary and Wage-Setting Institutions/dam/jcr:a3789fcb-10e9-473c-a3eb-f4ff4d48767d/wp63_tcm16-6152.pdf Full version (PDF, 538 kB) Download
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Working Paper 62
April 2002 Growth, Convergence and EU Membership/dam/jcr:5db9b9bd-1113-4312-8e42-a210e58cebc8/wp62_tcm16-6151.pdf Full version (PDF, 418 kB) Download
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Working Paper 61
February 2002 Price Dynamics in Central and Eastern European EU Accession/dam/jcr:139ac1b1-8935-4e16-9f5f-d19300888b45/wp61_tcm16-6150.pdf Full version (PDF, 394 kB) Download
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Working Paper 60
February 2002 The Empirical Performance of Option Based Densities of Foreign Exchange/dam/jcr:2bcb0b09-4fd2-44c9-9154-41d79ee50dd3/wp60_tcm16-6148.pdf Full version (PDF, 456 kB) Download
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Working Paper 59
February 2002 Evaluating Density Forecasts with an Application to Stock Market Returns/dam/jcr:a937b701-6e68-403e-944f-43e08c759957/wp59_tcm16-6147.pdf Full version (PDF, 283 kB) Download
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Working Paper 58
January 2002 Credit Channel and Investment Behavior in Austria: A Micro-Econometric Approach/dam/jcr:14bc3b6f-ab1b-4c00-9d20-faef442b8dda/wp58_tcm16-6146.pdf Full version (PDF, 360 kB) Download
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Working Paper 57
January 2002 Banking Regulation and Systemic Risk/dam/jcr:9672ee8e-9f92-4bab-853e-065bf0e9eaa6/wp57_tcm16-6145.pdf Full version (PDF, 370 kB) Download
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Working Paper 56
January 2002 Asymmetries in Bank Lending Behaviour. - Austria During the 1990s/dam/jcr:67f3c06e-2b4a-49e1-98b9-909dbe8076f2/wp56_tcm16-6144.pdf Full version (PDF, 582 kB) Download
2001
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Working Paper 55
December 2001 The Effectiveness of Central Bank Intervention in the EMS: The Post 1993 Experience/dam/jcr:87020fdc-b48e-48df-bbe5-7d0d4d828d8a/wp55_tcm16-6142.pdf Full version (PDF, 593 kB) Download
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Working Paper 54
October 2001 New International Monetary Arrangements and the Exchange Rate/dam/jcr:a7483bab-a128-4cb6-ab57-5bc6491c808e/wp54_tcm16-6141.pdf Full version (PDF, 836 kB) Download
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Working Paper 53
October 2001 Why Is the Business-Cycle Behavior of Fundamentals Alike Across Exchange-Rate Regimes?/dam/jcr:4ab70b8a-4173-460d-8291-4fa1069b09d4/wp53_tcm16-6140.pdf Full version (PDF, 481 kB) Download
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Working Paper 52
September 2001 Beyond Bipolar: A Three-Dimensional Assessment of Monetary Frameworks/dam/jcr:3edeaa41-a0f1-45e6-9354-946e6fc1bcab/wp52_tcm16-6139.pdf Full version (PDF, 306 kB) Download
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Working Paper 51
September 2001 Assessing Inflation Targeting after a Decade of World Experience/dam/jcr:8c1accd2-ec1d-4729-8739-271b458d6e14/wp51_tcm16-6138.pdf Full version (PDF, 292 kB) Download
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Working Paper 50
September 2001 Macroeconomic Fundamentals and the DM/$ Exchange Rate: Temporal Instability and the Monetary Model/dam/jcr:24bd113a-ddd5-46d6-b43f-6b2985392180/wp50_tcm16-6143.pdf Full version (PDF, 439 kB) Download
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Working Paper 49
August 2001 Arbitrage and Optimal Portfolio Choice with Financial Constraints/dam/jcr:b0f7a8c0-ec80-4bb1-a854-722ce4ddafde/wp49_tcm16-6137.pdf Full version (PDF, 434 kB) Download
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Working Paper 48
July 2001 A regulatory regime for financial stability/dam/jcr:bc10155e-3de6-480f-a3f4-577948588420/wp48_tcm16-6134.pdf Full version (PDF, 138 kB) Download
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Working Paper 47
June 2001 The ECB monetary policy strategy and the money market/dam/jcr:8181c1e4-c573-478a-aca3-52d679b30720/wp47_tcm16-6131.pdf Full version (PDF, 345 kB) Download
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Working Paper 46
May 2001 Exchange Rates, Prices and Money. A Long Run Perspective/dam/jcr:ef4cf0d2-fcd4-4aa9-83cc-72f8feccfd34/wp46_tcm16-6130.pdf Full version (PDF, 533 kB) Download
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Working Paper 45
May 2001 Is there an asymmetric effect on monetary policy over time? A bayesian analysis using Austrian data/dam/jcr:d9640da6-e091-4a01-9af8-48c9d9ff0ef7/wp45_tcm16-6128.pdf Full version (PDF, 785 kB) Download
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Working Paper 44
May 2001 The EURO Area and the single monetary policy/dam/jcr:9399232b-b86e-42da-b74f-f0e98ce16f4e/wp44_tcm16-6127.pdf Full version (PDF, 83 kB) Download
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Working Paper 43
March 2001 The Bank, the States, and the Market: An Austro-Hungarian Tale for Euroland, 1867-1914/dam/jcr:74416f32-58e2-4933-89cd-bbfaa76f1817/wp43_tcm16-6125.pdf Full version (PDF, 147 kB) Download
2000
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Working Paper 42
June 2000 Integration, Disintegration and Trade in Europe: Evolution of Trade Relations During the 1990s/dam/jcr:7c86a9f7-4a58-4450-9ec4-10a4fcbeb58c/wp42_tcm16-6122.pdf Full version (PDF, 125 kB) Download
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Working Paper 41
March 2000 Is there a Credit Channel in Austria? The Impact of Monetary Policy on Firms' Investment Decisions/dam/jcr:2df6def0-7955-4465-a631-1dba7c79138d/wp41_tcm16-6119.pdf Full version (PDF, 122 kB) Download
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Working Paper 40
March 2000 Central Banks in European Emerging Market Economies in the 1990s/dam/jcr:ff8cb5c1-7a70-4b86-9a97-906de88e6991/wp40_tcm16-6118.pdf Full version (PDF, 117 kB) Download
1999
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Working Paper 39
December 1999 Democracy and Markets: The Case of Exchange Rates/dam/jcr:7929df00-6f43-4805-8e30-71339fafe715/wp39_tcm16-6116.pdf Full version (PDF, 155 kB) Download
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Working Paper 38
July 1999 On the real effects of the monetary policy: A central banker's view/dam/jcr:dd7844e7-d35f-4087-b10b-a38b0141ac5d/wp38_tcm16-6112.pdf Full version (PDF, 227 kB) Download
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Working Paper 37
May 1999 Estimation of the term structure of interest rates - A parametric approach/dam/jcr:e2a71f3a-6805-4c22-9e65-1721bb67d4df/wp37_tcm16-6110.pdf Full version (PDF, 150 kB) Download
1998
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Working Paper 36
December 1998 Heterogeneities within industries and structure-performance models/dam/jcr:194946a6-b06f-4a06-8df7-13a045ddd621/wp36_tcm16-6108.pdf Full version (PDF, 76 kB) Download
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Working Paper 35
December 1998 Room for manoeuvre of economic policy in EU countries are there costs of joining EMU?/dam/jcr:576af12e-bd6f-4ff3-aa19-e2cf12ffe311/wp35_tcm16-6105.pdf Full version (PDF, 418 kB) Download
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Working Paper 34
November 1998 The impact of EMU on European unemployment/dam/jcr:9935b61a-7d35-4a54-acf5-902974ecc78e/wp34_tcm16-6104.pdf Full version (PDF, 259 kB) Download
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Working Paper 33
September 1998 Core Inflation in Selected European Union Countries/dam/jcr:44d0a463-3752-4746-8772-ea69a9d218e2/wp33_tcm16-6103.pdf Full version (PDF, 611 kB) Download
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Working Paper 32
July 1998 Price Level Convergence Among United States Cities: Lessons for the European Central Bank/dam/jcr:d8c19e33-761f-453c-b453-1dadf938f9b1/wp32_tcm16-6102.pdf Full version (PDF, 286 kB) Download
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Working Paper 31a
July 1998 The Usual Suspects? Productivity and Demand Shocks and Asia-Pacific Real Exchange Rates/dam/jcr:0f359806-8ad7-4c35-8c1a-8a9fe95341ba/wp31a_tcm16-6100.pdf Full version (PDF, 302 kB) Download
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Working Paper 30
July 1998 The Great Appreciation, the Great Depreciation, and the Purchasing Power Parity Hypothesis/dam/jcr:8630a4b2-4051-4559-885d-ae5daabecd5e/wp30_tcm16-6097.pdf Full version (PDF, 142 kB) Download
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Working Paper 29
June 1998 Goods Arbitrage and Real Exchange Rate Stationarity/dam/jcr:ca259ac1-d352-4691-b8f1-fc3beda7bd24/wp29_tcm16-6096.pdf Full version (PDF, 93 kB) Download
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Working Paper 28
June 1998 What Do We Really Know About Real Exchange Rates?/dam/jcr:29992b6d-06bc-47e0-ac8e-a1defba6efa8/wp28_tcm16-6095.pdf Full version (PDF, 138 kB) Download
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Working Paper 27
June 1998 Trends in European Productivity: Implications for Real Exchange Rates, Real Interest Rates and Inflation Differentials/dam/jcr:4fef6f18-4b03-4500-9832-a3d715871338/wp27_tcm16-6094.pdf Full version (PDF, 81 kB) Download
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Working Paper 26
May 1998 Structural Budget Deficits and Sustainability of Fiscal Positions in the European Union/dam/jcr:08c10ff1-2982-441d-826b-a4c416fbb6f9/wp26_tcm16-6092.pdf Full version (PDF, 736 kB) Download
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Working Paper 25
April 1998 Sources of Currency Crises: An Empirical Analysis/dam/jcr:f52bee21-6e1e-47ff-b64d-c6c4f7275038/wp25_tcm16-6090.pdf Full version (PDF, 674 kB) Download
1997
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Working Paper 24
September 1997 Exchange Rates and Monetary Policy in Central Europe - a Survey of Some Issues/dam/jcr:0e14c62c-d39d-4ecc-8148-19d5023220fa/wp24_tcm16-6088.pdf Full version (PDF, 246 kB) Download
1996
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Working Paper 23
June 1996 Will Asymmetric Shocks Pose a Serious Problem in EMU?/dam/jcr:33e7364d-3358-480b-a968-06c8893084be/wp23_tcm16-6087.pdf Full version (PDF, 202 kB) Download
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Working Paper 22
March 1996 Recovery in Eastern Europe: Pessimism Confounded?/dam/jcr:349e40de-482e-49aa-9c0d-4fb9e434d5df/wp22_tcm16-6086.pdf Full version (PDF, 64 kB) Download
1995
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Working Paper 20
October 1995 Monetary Spill-over Effects in the ERM: The Case of Austria, a Former Shadow Member/dam/jcr:1ba71188-ce97-4936-95e4-05e0cb774452/wp20_tcm16-6083.pdf Full version (PDF, 60 kB) Download
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Working Paper 19
January 1995 Austrian Exchange Rate Policy and European Monetary Integration - Selected Issues/dam/jcr:f3815a54-47ee-4e6b-90c7-bb43ed31477c/wp19_tcm16-6084.pdf Full version (PDF, 163 kB) Download