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Stanners, Walter - EconWPA - 2002

The general view of the media, bankers, business and politicians, not noticeably contradicted by academics, is that one of the main functions, or the main function, of the central bank is to analyse the progress of the economy, and then to steer it with skilful judgement towards health and...

Persistent link: https://www.econbiz.de/10005561324

IS INFLATION ALWAYS AND EVERYWHERE A NON-MONETARY PHENOMENON: EVIDENCE FROM UGANDA

David, KIHANGIRE Asiimwe; Albert, MUGYENYI - EconWPA - 2005

This paper examines the determinants of Uganda’s inflation rate during 1994M7-2005M6. We test the central hypothesis … that Uganda’s inflation rate is always and everywhere a non-monetary phenomenon. A theoretical background relating … inflation to monetary and other non-monetary factors is first analyzed before a detailed empirical analysis is done. We apply …

Persistent link: https://www.econbiz.de/10005125496

Equity Returns and Inflation: The Puzzlingly Long Lags

Lothian, James R.; McCarthy, Cornelia H.. - EconWPA - 2001

equities fail the test as inflation hedges, as had been quite widely believed, but that they take so long to pass. …

Persistent link: https://www.econbiz.de/10005124935

Nominal versus Real Convergence with Respect to EMU Accession - EMU Entry Scenarios for the New Member States

Schnabl, Gunther; Grauwe, Paul De - EconWPA - 2004

European new EU member states. Based on a Balassa-Samuelson model of productivity driven inflation, it finds a high probability … of higher inflation in the new member states. It compares the policy options which might make the compliance possible, i …

Persistent link: https://www.econbiz.de/10005408181

A calibrated structural model of the Czech economy

Hlédik, Tibor - EconWPA - 2004

The paper presents a structural model framework for a small open economy. The model, based on optimising households and firms, has been calibrated on Czech macroeconomic data in order to develop an analytic framework suitable for analysing key policy questions related to the Czech Republic’s...

Persistent link: https://www.econbiz.de/10005076689

Partisanship and fiscal policy co-ordination in a monetary union

Acocella, Nicola; Bartolomeo, Giovanni Di - EconWPA - 2001

Hibbs’ partisanship theory with the literature of fiscal policies international co- ordination. Furthermore, by considering …

Persistent link: https://www.econbiz.de/10005076746

Wage and public expenditure setting in a monetary union

Acocella, Nicola; Bartolomeo, Giovanni Di - EconWPA - 2001

terms also of inflation may take place. In the case of co-operation between governments gains may accrue only in terms of … employment or inflation to one or the other country, if the weights put by the governments on price stability are different. This …

Persistent link: https://www.econbiz.de/10005076748

Some empirical tests on the integration of economic activity between the euro area and the accession countries

Korhonen, Iikka - EconWPA - 2002

This note looks ata the correlation of short-term business cycles in the euro area and the Eu accession countries. This issue is assessed with the help of vector autoregressive models. There are clear differences in the degree of correlation between acces-sion countries. For Hungary and...

Persistent link: https://www.econbiz.de/10005076777

Monetary Union in West Africa and Asymmetric Shocks: A Dynamic Structural Factor Model Approach

Houssa, Romain - EconWPA - 2004

We analyse the costs of a monetary union in West Africa by means of asymmetric aggregate demand and aggregate supply shocks. Previous studies have estimated the shocks with the VAR model.We discuss the limits of this approach and apply a new technique based on the dynamic factor model.The...

Persistent link: https://www.econbiz.de/10005062399

A Track Record of Monetary Integration in the Southern Cone: Possible Lessons and Future Prospects

Kronberger, Ralf - EconWPA - 2004

The currency crisis of 1999 in Brazil and the current debt crisis in Argentina has put economic integration in MERCOSUR under stress. Fears of disintegration seem to be more prevalent than optimism on a further deepening of economic and eventually monetary integration in MERCOSUR. The...

Persistent link: https://www.econbiz.de/10005556861