Showing 1 - 10 of 343
inflation, has remained unexplained in terms of its mathematical origins. Keynes had attempted to relate inflation to a … mechanism of "sticky wages and prices". Hitherto, such theories of inflation have remained unproven and disputable. Recently …, during the so-called "New Economy" era, characterized by a spread of electronic transactions and Internet commerce, inflation …
Persistent link: https://www.econbiz.de/10005412616
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
This paper examines the optimal frequency of monetary policy meetings when their schedule is pre-announced. Our contribution is twofold. First, we show that in the standard New Keynesian framework infrequent but periodic revision of monetary policy may be desirable even when there are no...
Persistent link: https://www.econbiz.de/10005076774
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
find that the feedback coefficient to inflation was well above 1 also in the 1960s and 1970s and therefore policy was not …
Persistent link: https://www.econbiz.de/10005126467
This paper challenges the time-inconsistency case for central bank independence. It argues that the time-inconsistency literature not only seriously confuses the substance of the rules versus discretion debate, but also posits an implausible view of monetary policy. Most worrisome, the...
Persistent link: https://www.econbiz.de/10005561151
order generator mechanism for cost pressure and inflation. In this working paper the basis and fundamentals of Shannon …
Persistent link: https://www.econbiz.de/10005561278
progressively opt for greater exchange rate flexibility as well as a monetary policy based on inflation targeting rather than … policies are reviewed and analyzed. Second, the theoretical sources of inflation (cost push and demand pull factors as well as … probabilities is estimated for Morocco and Tunisia to provide important information concerning the mechanisms underlying inflation …
Persistent link: https://www.econbiz.de/10005561228
In this paper we consider a standard policy game between the Government and a union. In such a framework, we first investigate the effects of corporatism on macroeconomic performance vis-à-vis different kinds of non-co-operative equilibria. Afterwards, we introduce in the literature the issue...
Persistent link: https://www.econbiz.de/10005076716
welfare, since it often reduces the union’s utility. In particular, we show that an inflation-neutral union will never find it …
Persistent link: https://www.econbiz.de/10005412619