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interest rates by critically surveying theories about (a) optimal anticipated inflation, (b) optimal unanticipated inflation …
Persistent link: https://www.econbiz.de/10012481961
Singapore entered the COVID-19 pandemic with sizable policy space and robust economic policy frameworks, yet facing …
Persistent link: https://www.econbiz.de/10012604417
On June 20, 2018, the Executive Board approved the largest stand-by arrangement in the Fund's history, in support of Argentina's 2018-21 economic program. After an augmentation in October 2018, access under the arrangement amounted to USD 57 billion (1,227 percent of Argentina's IMF quota). The...
Persistent link: https://www.econbiz.de/10013169527
Persistent link: https://www.econbiz.de/10012471099
A simple New-Keynesian model is set out with AS-AD graphical analysis. The model is consistent with modern central banking, which targets shortterm nominal interest rates instead of money supply aggregates. This simple framework enables us to analyze the economic impact of productivity or markup...
Persistent link: https://www.econbiz.de/10012463823
policy requires that inflation be stabilized at the union level. On the other hand, the relinquishment of an independent …
Persistent link: https://www.econbiz.de/10012466856
on a number of grounds which we evaluate in this paper. We show that observed inflation persistence in U.S. time series … is consistent with the absence of structural inflation stickiness as is the case in the benchmark NNS economy. We …
Persistent link: https://www.econbiz.de/10012470296
Georgia has emerged from its second lockdown that was imposed in November 2020 following a sharp increase in COVID-19 cases. Vaccinations commenced in March 2021 and the country is now entering a critical stage in overcoming the pandemic. The lockdowns drove a contraction of around 6.2 percent...
Persistent link: https://www.econbiz.de/10012517676
Standard discussions of flexible inflation targeting as an optimal monetary policy abstract completely from the … consequences of monetary policy for the government budget. But at least some of the countries now adopting inflation targeting have … substantial difficulty in controlling fiscal imbalances, so that the additional strains resulting from strict control of inflation …
Persistent link: https://www.econbiz.de/10012466536
This paper considers whether 'liquidity trap' issues have important bearing on the desirability of inflation targeting … 'indeterminacy' dangers are created by variants of inflation targeting, the latter when forecasts of future inflation enter the … variable can still be the inflation rate …
Persistent link: https://www.econbiz.de/10012470499