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Productivity differentials and external balance in ERM II
Henriksson, Marketta - EconWPA - 2005
Differences in growth, productivity and inflation levels are going to be a prominent feature of the future of EMU, as …
Persistent link: https://www.econbiz.de/10005125509
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Canaries and Vultures: A Quantitative History of Monetary Mismanagement in Brazil
Albuquerque, Pedro H.; Gouvea, Solange - EconWPA - 2005
During the last two decades of the twentieth century, Brazil went through a sequence of failed stabilization plans that tried to cope with an enduring hyperinflation. This paper uses a money demand model to evaluate monetary policies during those episodes. The consistency between the money...
Persistent link: https://www.econbiz.de/10005124863
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A Preliminary Evaluation of Monetary Policy Rules for Russia
Souza, Lucio Vinhas de - EconWPA - 2004
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
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The impact on the U.S. Dollar of the conflict between the American locomotive’s model and the emerging economies’ autopoietic growth.
Viviani, Carlo; Savona, Paolo - EconWPA - 2005
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
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Exchange Rate Regimes and Nominal Convergence in the CEECs
Järvinen, Marketta - EconWPA - 2002
This paper examines, in the context of future EMU membership of the Central and Eastern European countiries (CEECs), the interaction between fiscal policy and the price level in different exchange rate regimes. The theoretical framework is based on the Fiscal Theory of the Price Level (FTPL)....
Persistent link: https://www.econbiz.de/10005076688
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The inflation-productivity trade-off revisited
Bitros, George C.; Panas, Epameinondas E. - EconWPA - 2005
growth and inflation to the specification of the estimating model; second, to test the stability of their relationship in the … acceleration of inflation from 1964- 1972 to 1973-1980 reduced total factor productiv-ity growth in a way that was both … statistically significant and sizeable, and b) even when the ef-fect of inflation is separated from the effects of technical change …
Persistent link: https://www.econbiz.de/10005126201
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Another look at the inflation-productivity trade-off
Bitros, Georgios; Panas, Epaminondas - EconWPA - 2005
Our aim in this paper is to test the robustness of the relation between total factor productivity growth and inflation … period 1964-1980. The results confirm that the acceleration of inflation from 1964-1972 to 1973-1980 reduced total factor … effect of inflation is separated from the effects of technical change and economies of scale, the choice of functional form …
Persistent link: https://www.econbiz.de/10005412823
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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
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The function of the central bank
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
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Exchange Rate Regimes and Poland's Participation in ERM II
Borowski, Jakub; Brzezina, Michal Brzoza-; Szpunar, Piotr - EconWPA - 2003
In this paper we address some of the issues resulting from Poland's will to join the Economic and Monetary Union. Our attention focuses on topics related to the possibly soon entry into the European exchange rate mechanism (ERM II). We consider the possible paths of entering the system,...
Persistent link: https://www.econbiz.de/10005076841