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Exchange Rate Floating and Inflation Targeting Implementing - Lessons from a succesful transition - The Brazilian Case
Deheza, Juan Carlos Soldano - EconWPA - 2003
El objetivo de este paper es realizar una descripción del caso brasileño, en lo que hace a la salida de un sistema en el cual el ancla nominal de la economía era un tipo de cambio semi-fijo, hacia un régimen de flotación “cuasi” limpia de la moneda, en el que el ancla de la economía...
Persistent link: https://www.econbiz.de/10005076607
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CLAVES DE LA INFLACION DE 2005
Marongiu, Federico - EconWPA - 2005
circulante a través de las intervenciones del Banco Central en el mercado cambiario. La inflación impacta al mismo tiempo en …
Persistent link: https://www.econbiz.de/10005076625
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National Appointments to Multinational Monetary Policy Making: A Role Conflict?
Ripoll, Jose - EconWPA - 2003
Territorial appointees to an independent central bank (e.g. District Federal Reserve Banks’ presidents, Governors of … national central banks at the ECB’s Governing Council) are liable to confront a “role conflict” stemming from a duality of … loyalties and allegiances - to the home regional territory to which they owe the appointment and to the central bank to which …
Persistent link: https://www.econbiz.de/10005076671
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CAN MONETARY POLICY AFFECT THE REAL ECONOMY?
Arestis, Philip; Sawyer, Malcolm - EconWPA - 2002
Current monetary policy involves the manipulation of the Central Bank interest rate (the repo rate), with the specific …
Persistent link: https://www.econbiz.de/10005076687
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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
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Monetary Policy in the Euro Area - Lessons from the First Years
Clausen, Volker; Hayo, Bernd - EconWPA - 2002
This paper investigates in a consistent semi-structural empirical framework three current issues of monetary policy in the euro area. First, regarding policy transmission we offer a three-stage procedure to combine the efficient estimation of economic structure prior to EMU with current ECB...
Persistent link: https://www.econbiz.de/10005076690
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Macroeconomic Policies of the Economic and Monetary Union: Theorectical Underpinnings and Challenges
Arestis, Philip; Sawyer, Malcolm - EconWPA - 2003
Macroeconomic Policies of the Economic and Monetary Union: Theoretical Underpinnings and Challenges Philip Arestis and Malcolm Sawyer, The Levy Economics Institute and Leeds University Abstract This paper presents two issues: first, an effort to decipher the type of economic analysis and...
Persistent link: https://www.econbiz.de/10005076715
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An Enlarged Economic and Monetary Union: Effects and Policy Implications
Altomonte, Carlo; Pace, Pierangelo De - EconWPA - 2004
We calculate an "enlarged" Phillips curve for a theoretical EMU with 12+8 Member States. Both the empirical evidence and the econometric analysis show the worsening of the trade-off between inflation and unemployment, and hence the need to revise, at least temporarily, the stance of the ECB...
Persistent link: https://www.econbiz.de/10005076741
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Estimating the Natural Rate of Interest: A SVAR Approach
Brzoza-Brzezina, Michal - EconWPA - 2003
For the successful conduct of monetary policy the central bank needs reliable indicators of the monetary policy stance …
Persistent link: https://www.econbiz.de/10005076765
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Limited Commitment, Inaction and Optimal Monetary Policy
Mirzoev, Tokhir - EconWPA - 2004
commitment outweigh welfare costs of central bank's inaction. Second, we solve for the optimal frequency of policy adjustment and …
Persistent link: https://www.econbiz.de/10005076774