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The Philippine Central Bank's Monetary Policy Reaction Function from 1992 to 2003
Salas, John Michael Ian S. - EconWPA - 2004
stance, before and after its adoption of the inflation targeting framework, as revealed by its interest rate setting behavior … inflation by and large through its key policy rate, though it appears to be accommodative with respect to the output gap. In …
Persistent link: https://www.econbiz.de/10005561255
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Statistical estimates of the deviations from the macroeconomic potential. An application to the economy of Bulgaria
Ganev, Kaloyan - EconWPA - 2004
The paper reviews the basic statistical methods for estimation of the deviations from the production potential of the economy. The emphasis is put on the a-theoretical approaches. To illustrate the application of the models data for the Bulgarian economy have been used, and on the basis of the...
Persistent link: https://www.econbiz.de/10005076707
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Dynamic Risk Profile of the US Term Structure by Wavelet MRA
JAMDEE, SUTTHISIT; LOS, CORNELIS A. - EconWPA - 2004
A careful examination of interest rate time series from different U.S. Treasury maturities by Wavelet Multiresolution Analysis (MRA) suggests that the first differences of the term structure of interest rate series are periodic or, at least, cyclic, non-stationary, long-term dependent, in...
Persistent link: https://www.econbiz.de/10005125063
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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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New Hope for the Fisher Effect? A Re-Examination Using Threshold Cointegration
Weidmann, Jens - EconWPA - 1997
This paper reassesses the long-run relation between nominal interest rates and inflation using German data. It shows … adjusting to changes in inflation, can be attributed to the particular time series behavior of inflation and interest rates … bivariate system of inflation and interest rates depends on the level of the variables and should be modeled as a thresh …
Persistent link: https://www.econbiz.de/10005126206
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Structural Breaks, Inflation and Interest Rates: Evidence for the G7 countries
Clemente, Jesus; Montañes, Antonio; Reyes, Marcelo - EconWPA - 2004
economies of the G7 countries. We first prove that nominal interest and inflation rate can be better represented as being broken …
Persistent link: https://www.econbiz.de/10005556324
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La Política Monetaria y el Corto en México
Díaz-Bautista, Alejandro; Seyffert, Diego Prieto; … - EconWPA - 2004
El corto es un instrumento de política monetaria que utiliza el Banco de México para abatir la inflación. El corto ha sido un instrumento muy útil para Banco de México en la conducción de la política monetaria, porque ha permitido que los choques a los mercados se distribuyan y se...
Persistent link: https://www.econbiz.de/10005076789
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Monetary Conditions and Stock Returns: A South African Case Study
Coetzee, Clive - EconWPA - 2002
Extensive research on the linkages between monetary conditions and stock returns has been conducted in developed countries. This is in sharp contrast to the situation in developing countries. This paper therefore aims to study the long believed asymmetrical relationship between changes in...
Persistent link: https://www.econbiz.de/10005413129
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Inflation Targeting: A Critical Appraisal
Arestis, Philip; Sawyer, Malcolm - EconWPA - 2003
Since the early 1990s, a number of countries have adopted Inflation Targeting (IT) in an effort to reduce inflation …
Persistent link: https://www.econbiz.de/10005561314
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Phenomenology of the interest curve
BOUCHAUD, Jean-Philippe; CONT, Rama; KAROUI, Nicole EL; … - EconWPA - 1997
This paper contains a statistical description of the whole U.S. forward rate curve (FRC), based on data from the period 1990-1996. We find that the average deviation of the FRC from the spot rate grows as the square- root of the maturity, with a proportionality constant which is comparable to...
Persistent link: https://www.econbiz.de/10005413172