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In this paper we consider that the relationship between nominal exchange rate and prices depends on the nature of the shocks impacting the economy. In order to identify the sources of nominal exchange rate and relative price fluctuations in Spain we impose long-run restrictions on the dynamics...
Persistent link: https://www.econbiz.de/10005155304
Inflation has fallen dramatically in countries like Spain and Italy over the last decade, but the rate of increase in … productivity trends for the consistency of the Maastricht convergence criteria an for the differences in nation inflation rates …
Persistent link: https://www.econbiz.de/10005590705
Emerging economies with inflation targets (IT) face a dilemma between fulfilling the theoretical conditions of "strict …
Persistent link: https://www.econbiz.de/10008914185
bank independence and measures of persistence, and then we compare them with inflation performance in OECD countries. Our … of inflation. …
Persistent link: https://www.econbiz.de/10005022245
Inflation-indexed bonds are fixed-income securities whose nominal cash flows are adjusted to an inflation index. In … countries where these securities exist, inflation expectations are sometimes estimated as the spread between the nominal yield … the same issuer. However, this indicator known as the break-even rate, may estimate inflation expectations with some …
Persistent link: https://www.econbiz.de/10005022247
Political Science on June 4th. It starts by asking what factors have been behind the remarkable retreat of inflation that has …
Persistent link: https://www.econbiz.de/10005022254
provincial inflation divergences and relative price shifts. Inflation differentials are found to be small (the range is less than …
Persistent link: https://www.econbiz.de/10005022283
orientation of macroeconomic policies - and of monetary policies in particular - to achieving lower inflation rates. This has led … to a move from low inflation to price stability in a number of countries and, in particular, in Spain. The purpose of … from achieving inflation rates which are low enough to be considered consistent with a situation of price stability. …
Persistent link: https://www.econbiz.de/10005022285
We use an integrated framework based on the CCAPM to jointly estimate ex-ante real interest rates, inflation risk … premia and agents' inflation expectation errors in four countries - France, Spain, UK and US - under three different …
Persistent link: https://www.econbiz.de/10005022298
This paper develops and estimates a game-theoretical model of inflation targeting where the central banker …
Persistent link: https://www.econbiz.de/10005155218