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Commodities, energy and finance
Gnan, Ernest (ed.); Guðmundsson, Már (ed.) - Workshop on "Commodities, Energy and Finance" <2008, Wien>; … - 2008
Persistent link: https://www.econbiz.de/10011704678
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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
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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
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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
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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
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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
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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
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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
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Working Paper 162
Müller, Gernot J.; Enders, Zeno - Oesterreichische Nationalbank - 2010
In this paper we analyze European business cycles before and under EMU. Across the two periods we find 1) a significant decline in real exchange rate volatility, 2) significant changes in cross-country correlations, and 3) the volatility of macroeconomic fundamentals largely unchanged. We...
Persistent link: https://www.econbiz.de/10010727661
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EU and EMU Entry: A Monetary Policy Regime Change for Austria?
Kwapil, Claudia; Valderrama, Maria Teresa; Gnan, Ernest - Oesterreichische Nationalbank
Economic and Monetary Union (EMU) has changed the monetary policy regime applicable in Austria in many respects, but the stability orientation of Austria's monetary policy has been maintained. EMU's institutional framework and the actual monetary policymaking of the Eurosystem have secured...
Persistent link: https://www.econbiz.de/10010727671