Similar Search Results

A Simple Dynamic Model of Credit and Aggregate Demand

Diaz-Bautista, Alejandro; Escandon, Julio R. - EconWPA - 2003

The purpose of the paper is to present a tractable model of an old topic which is becoming more important in macroeconomics: the link between financial structure and economic activity.

Persistent link: https://www.econbiz.de/10005126180

Monetary and Fiscal Policy Dynamics in an Asymmetric Monetary Union

Clausen, Volker; Wohltmann, Hans-Werner - EconWPA - 2002

This paper investigates the dynamic effects of monetary and fiscal policy in a monetary union, which is characterized by asymmetric interest rate transmission. This asymmetry gives rise to intertemporal reversals in the relative effectiveness of policy on member country outputs. The direction...

Persistent link: https://www.econbiz.de/10005126325

Monetary Magic? How the Fed Improved the Supply Side of the Economy

Sgherri, Silvia; Bayoumi, Tamim - Econometric Society - 2004

Extending recent theoretical contributions on sources of inflation inertia, we argue that monetary uncertainty accounts for sluggish expectations adjustment to nominal disturbances. Estimating a model in which rational individuals learn over time about shifts in U.S. monetary policy and the...

Persistent link: https://www.econbiz.de/10005342162

The Changing Malaysian Financial Environment and the Effects on Its Monetary Policy Transmission Mechanism

Raghavan, Mala Valliammai - Econometric Society - 2004

In recent times, economists concur that economy's response to monetary policy is somewhat weaker then they were in the past. However, the cause of such change remains an open issue. One plausible reason for this change could be attributed to the financial reform processes that have brought...

Persistent link: https://www.econbiz.de/10005342178

What Explains the Varying Monetary Response to Technology SHocks in G7-Countries

Theodorou, Athena T.; Francis, Neville R.; Owyang, … - Econometric Society - 2004

shocks in generating cyclical fluctuations in the United States. Using both long- and short-run identifying restrictions … the studies of monetary policy have focused on the effect of exogenous money growth or interest rate shocks, recent …-monetary shocks. One exogenous shock that many economists believe contributes to the business cycle fluctuations that feed into the …

Persistent link: https://www.econbiz.de/10005342196

Exchange Rate Floating and Inflation Targeting Implementing - Lessons from a succesful transition - The Brazilian Case

Deheza, Juan Carlos Soldano - EconWPA - 2003

El objetivo de este paper es realizar una descripción del caso brasileño, en lo que hace a la salida de un sistema en el cual el ancla nominal de la economía era un tipo de cambio semi-fijo, hacia un régimen de flotación “cuasi” limpia de la moneda, en el que el ancla de la economía...

Persistent link: https://www.econbiz.de/10005076607

A look at exchange rate and monetary policy in Malawi

Simwaka, Kisu - EconWPA - 2004

effective exchange rate misalignment. The results show that excess money supply predict real effective exchange rate …, money supply growth and real effective exchange rate misalignment. The adjustment speed from the error correction term is … consistent with a market-determined exchange rate responding to excess money supply. Keywords: Exchange Rate; Monetary Policy …

Persistent link: https://www.econbiz.de/10005076782

La Política Monetaria y el Corto en México

Díaz-Bautista, Alejandro; Seyffert, Diego Prieto; … - EconWPA - 2004

El corto es un instrumento de política monetaria que utiliza el Banco de México para abatir la inflación. El corto ha sido un instrumento muy útil para Banco de México en la conducción de la política monetaria, porque ha permitido que los choques a los mercados se distribuyan y se...

Persistent link: https://www.econbiz.de/10005076789

Inflationary Dynamics and the Angell-Johnson Proposals

Jr, Thomas M Fullerton; Hirth, Richard A; Smith, Mark B - EconWPA - 2004

The links between commodity prices, interst rates, wages, and the exchange rate of the U.S. dollar with consumer prices is investigated. An ARIMA transfer function methodology is employed. Sample data are from January 1972 to December 1988. Although model diagnsotics are relatively good,...

Persistent link: https://www.econbiz.de/10005076818

Structural Factor-Augmented VAR (SFAVAR) and the Effects of Monetary Policy

Belviso, Francesco; Milani, Fabio - EconWPA - 2005

Factor-augmented VARs (FAVARs) have combined standard VARs with factor analysis to exploit large data sets in the study of monetary policy. FAVARs enjoy a number of advantages over VARs: they allow a better identification of the monetary policy shock; they can avoid the use of a single variable...

Persistent link: https://www.econbiz.de/10005076826