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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
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
We analyse the possible impact of EMU enlargement on inflation rates in the accession countries. Using a simple … applied to the enlargement EMU: our findings indicate that (trend) inflation rates in the EMU candidate countries are likely …
Persistent link: https://www.econbiz.de/10005412769
acceleration of inflation from 1964- 1972 to 1973-1980 reduced total factor productiv-ity growth in a way that was both … our surprise, we find that the inflation-productivity trade-off prevails even in the long run. And, fi-nally, regarding … inflation to productivity. On these grounds we conclude that for a precise estimation of the relationship under consideration it …
Persistent link: https://www.econbiz.de/10005126201
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
-integrating vector. Results indicate that nominal exchange rate over the period is determined by real income growth, rate of inflation …
Persistent link: https://www.econbiz.de/10005076782
different policy rules, we test whether the central bank in Russia reacts to changes in inflation, output gap and the exchange …
Persistent link: https://www.econbiz.de/10005076844
Using nonlinear unit root tests developed by Kapetanios et al. (2003), we find strong evidence that the Consumer Price Index (CPI) and Wholesale Price Index (WPI) based Malaysian Ringgit – U.S. Dollar (MYR/USD) real exchange rates are nonlinear stationary, implying that MYR/USD nominal...
Persistent link: https://www.econbiz.de/10005124933
Using nonlinear unit root tests developed by Kapetanios et al. (2003), we find strong evidence that the Consumer Price Index (CPI) and Wholesale Price Index (WPI) based Malaysian Ringgit – U.S. Dollar (MYR/USD) real exchange rates are nonlinear stationary, implying that MYR/USD nominal...
Persistent link: https://www.econbiz.de/10005124941
The purpose of this paper is to put the future of the US dollar into a logical framework which comprises the global development mechanism. Two models of growth collide: the US «locomotive», based on the international use of the dollar, and which requires exogenous pushes coming permanently...
Persistent link: https://www.econbiz.de/10005124951