Blar i Arbeidsnotater / Working Papers på forfatter "Granziera, Eleonora"
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The Bias and Efficiency of the ECB Inflation Projections: a State Dependent Analysis
Granziera, Eleonora; Jalasjoki, Pirkka; Palovita, Maritta (Working Paper;1/2021, Working paper, 2021)We test for bias and efficiency of the ECB inflation forecasts using a confidential dataset of ECB macroeconomic quarterly projections. We investigate whether the properties of the forecasts depend on the level of inflation, ... -
Bonds, currencies and expectational errors
Granziera, Eleonora; Sihvonen, Markus (Working Paper;3/2020, Working paper, 2020)We propose a model in which sticky expectations concerning shortterm interest rates generate joint predictability patterns in bond and currency markets. Using our calibrated model, we quantify the effect of this channel ... -
Nowcasting Norwegian household consumption with debit card transaction data
Aastveit, Knut Are; Fastbø, Tuva Marie; Granziera, Eleonora; Paulsen, Kenneth Sæterhagen; Torstensen, Kjersti Næss (Working Paper;17/2020, Working paper, 2020)We use a novel data set covering all domestic debit card transactions in physical terminals by Norwegian households, to nowcast quarterly Norwegian household consumption. These card payments data are free of sampling errors ... -
State dependence of monetary policy across business, credit and interest rate cycles
Alpanda, Sami; Granziera, Eleonora; Zubairy, Sarah (Working Paper;21/2019, Working paper, 2019)We investigate how the business, credit and interest rate cycles affect the monetary transmission mechanism, using state-dependent local projection methods and data from 18 advanced economies. We exploit the time-series ...