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Suvanto, Antti; Hukkinen, Juhana - EconWPA - 2005

The paper investigates the relationship between relative price movements and changes in the aggregate price level using monthly data on Finland’s Consumer Price Index and its components from the period covering the past eight and a half years. This was a period of very low inflation. The rate...

Persistent link: https://www.econbiz.de/10005412660

Who Controls the Price Level?

Erdogdu, Oya S. - EconWPA - 2003

Under the guidance of monetarist theory and the issue of dominance, this study is a survey of a rapidly growing literature on Fiscal Theory of Price Level, which opens up new horizons in a non –Ricardian world and questions the effectiveness of monetary policy on price level determination.

Persistent link: https://www.econbiz.de/10005561347

INEQUALITY AND OIL SUBSIDY IN INDONESIA

Situngkir, Hokky - EconWPA - 2004

This paper is intended to give some alternative positive suggestion on how to cope with the must of the cutting off the oil subsidy domestically. The problem that faced by the government is that the compensation fund will hardly enjoyed by the poor, and moreover it is hard to watch out the whole...

Persistent link: https://www.econbiz.de/10005412627

The smooth transition autoregressive target zone model with the Gaussian stochastic volatility and TGARCH error terms with applications

Korenok, Oleg; Radchenko, Stanislav - EconWPA - 2005

This paper proposes to model the error term in smooth transition autoregressive target zone model as Gaussian with stochastic volatility (STARTZ-SV) or as Student-t with GARCH volatility (STARTZ-TGARCH). Using the dynamics of Norwegian krone exchange rate index, we show that both models produce...

Persistent link: https://www.econbiz.de/10005119119

The Long-Run Forecasting of Energy Prices Using the Model of Shifting Trend

Radchenko, Stanislav - EconWPA - 2005

This paper constructs long-term forecasts of energy prices using a reduced form model of shifting trend developed by Pindyck (1999). A Gibbs sampling algorithm is developed to estimate models with a shifting trend line which are used to construct 10-period-ahead and 15-period ahead forecasts. An...

Persistent link: https://www.econbiz.de/10005119203

Why the Japanese Taxpayer Always Loses

Ramseyer, J. Mark; Rasmusen, Eric - EconWPA - 1999

The tax office wins most cases in Japan. We think about why this might be. We find that although judges who rule in …

Persistent link: https://www.econbiz.de/10005076631

Why Is the Japanese Conviction Rate So High?

Ramseyer, J. Mark; Rasmusen, Eric - EconWPA - 1999

Conviction rates in Japan exceed 99 percent -- why? On the one hand, because Japanese prosecutors are badly …

Persistent link: https://www.econbiz.de/10005076633

Exchange Rate Pass-Through to Manufactured Import Prices: The Case of Japan

Wickremasinghe, Guneratne Banda; Silvapulle, Param - EconWPA - 2004

This paper examines the exchange rate pass-through to yen based manufactured import prices of Japan using asymmetric … shown that the recession in Japan in the 1990s has significantly affected the exchange rate passthrough relationship … the import prices does not appear to uncover the true underlying exchange rate pass through relationship. …

Persistent link: https://www.econbiz.de/10005124902

Monitoring Banking Sector Fragility

Kibritcioglu, Aykut - EconWPA - 2002

In the financial crisis literature, it is usually argued that, contrary to the case of currency crises, building a time series index to identify banking crisis episodes is highly difficult, particularly because of the lack of reliable data on banking sector variables (non-performing loans,...

Persistent link: https://www.econbiz.de/10005126447

Factor Endowments, Trade Direction, and Growth Performances of the Americas and East Asia in the Nineteenth and Twentieth Centuries

Lai, Hongyi Harry - EconWPA - 1997

-endowment based trade and economic ties with the secondary advanced economy (first the U.S. and then Japan) played important roles in … the pre-WWII growth of Japan, Southeast Asia's growth in the 1970s and the 1980s, and its economic crisis in the mid-1990s. …

Persistent link: https://www.econbiz.de/10005062412