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The Philippine Central Bank's Monetary Policy Reaction Function from 1992 to 2003

Salas, John Michael Ian S. - EconWPA - 2004

addition, currency stability and expansionary money supply (M1) growth are other concerns of the BSP, though significantly so …

Persistent link: https://www.econbiz.de/10005561255

Money, Barter and Inflation in Russia

Kim, Byung-Yeon; Pirttilä, Jukka; Rautava, Jouko - EconWPA - 2002

Using a macroeconometric framework, this paper analyses relationships among money, barter and inflation in Russia … findings suggest that barter has resulted partly from output losses and partly from a reduction in real money balances, but to … a lesser extent. There is some evidence that the effect of barter on prices is less than that of money. We also find …

Persistent link: https://www.econbiz.de/10005412642

The role of expectations in the inflation process in the euro area

Paloviita, Maritta; Virén, Matti - EconWPA - 2005

This paper analyses the role of inflation expectations in the euro area. On one hand, the question is how inflation expectations affect both inflation and output, and, on the other hand, how inflation expectations reflect developments in these variables. The analyses make use of a simple VAR...

Persistent link: https://www.econbiz.de/10005126316

Latin American Central Bank Reform: Progress and Challenges

Carstens, Agustin; Luis I. Jacome H. - EconWPA - 2005

This study takes stock of the institutional reform of monetary policy in Latin America since the early 1990s. It argues that strengthening the legal independence of central banks, together with macroeconomic policies, was instrumental in reducing inflation from three-digit annual rates in the...

Persistent link: https://www.econbiz.de/10005126474