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Strengthening the Macroeconomic Policy Framework in South Africa
Lysenko, Tatiana; Barnard, Geoff - Economics Department, Organisation de Coopération et … - 2011
resilient to external shocks. Enhancing the credibility of the inflation target would provide the monetary authorities with more …. Améliorer la crédibilité de l’objectif d’inflation donnerait aux autorités monétaires plus de latitude pour réagir aux chocs …
Persistent link: https://www.econbiz.de/10008854030
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The puzzling peso
Arteta, Carlos; Kamin, Steven B.; Vitanza, Justin - In: Journal of International Money and Finance 30 (2011) 8, pp. 1814-1835
In the past decade, some observers have noted an unusual aspect of the Mexican peso’s behavior: During periods when the U.S. dollar has risen (fallen) against other major currencies such as the euro, the peso has risen (fallen) against the dollar. Very few other currencies display this...
Persistent link: https://www.econbiz.de/10010577037
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The Zero-Interest Rate Bound and the Role of the Exchange Rate for Monetary Policy in Japan
Coenen, Günter; Wieland, Volker - C.E.P.R. Discussion Papers - 2003
impact of the zero bound on the effectiveness of interest rate policy in Japan in terms of stabilizing output and inflation …
Persistent link: https://www.econbiz.de/10005788995
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Inflation aversion in transition countries: Empirical evidence from the Baltic States
Berlemann, Michael - In: Economic Systems 38 (2014) 3, pp. 415-432
In command economies, inflation is either absent or at least unrelated to supply and demand. However, when the … economies in Eastern Europe started transforming into market economies, they suddenly experienced high and volatile inflation … rates. Transformation countries are therefore interesting laboratories for studying individual inflation aversion. In this …
Persistent link: https://www.econbiz.de/10010930599
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Delegating optimal monetary policy inertia
Bilbiie, Florin O. - In: Journal of Economic Dynamics and Control 48 (2014) C, pp. 63-78
are nested within this framework: the (squared) optimal targeting rule; inflation, output-gap growth and nominal income … growth targeting; and inflation and output-gap contracts. …
Persistent link: https://www.econbiz.de/10011077515
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Delegating Optimal Monetary Policy Inertia
Bilbiie, Florin Ovidiu - C.E.P.R. Discussion Papers - 2009
regimes that are nested within this framework: inflation, output-gap growth and nominal income growth targeting; and inflation …
Persistent link: https://www.econbiz.de/10008459765
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Is there a homogeneous causality pattern between oil prices and currencies of oil importers and exporters?
Beckmann, Joscha; Czudaj, Robert - In: Energy Economics 40 (2013) C, pp. 665-678
Although the link between oil prices and dollar exchange rates has been frequently analyzed, a clear distinction between prices and nominal exchange rate dynamics and a clarification of the issue of causality has not been provided. In addition, previous studies have mostly neglected...
Persistent link: https://www.econbiz.de/10010868790
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The Impact of Monetary and Commodity Fundamentals, Macro News and Central Bank Communication on the Exchange Rate: Evidence from South Africa
Égert, Balázs - Economics Department, Organisation de Coopération et … - 2009
This paper studies drivers of high-frequency (daily) dynamics of the South African rand vis-à-vis the dollar from January 2001 to July 2007. We find strong nonlinear effects of commodity prices, perceived country and emerging market risk premium and changes in the dollar-euro exchange rate on...
Persistent link: https://www.econbiz.de/10005046067
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Sticky Wages, Incomplete Pass-Through and Inflation Targeting: What is the Right Index to Target?
Abo-Zaid, Salem M. - In: Journal of Economics and Econometrics 53 (2010) 1, pp. 28-58
This paper studies strict monetary policy rules in a small open economy with Inflation Targeting, incomplete pass …
Persistent link: https://www.econbiz.de/10008581932
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Monetary Misconceptions: New and Old Paradigmata and Other Sad Tales
Buiter, Willem H. - C.E.P.R. Discussion Papers - 2000
Several recent studies imply that the response of national saving to fiscal policy is non-monotonic. In this paper, we use two data sets to search for the circumstances in which such non-monotonic responses arise: one refers to a sample of OECD countries, as in previous studies, and one to a...
Persistent link: https://www.econbiz.de/10005124252