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We study a newly constructed panel data set of relative prices of a large number of consumer goods among 31 European countries. We find that there is a substantial and nondiminishing deviation from PPP at all levels of aggregation, even among euro zone members. However, real exchange rates are...
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Using survey data of inflation expectations across a 36 developed and developing countries, this paper examines whether … the adoption of inflation targeting has helped to anchor inflation expectations. We examine the response of inflation … expectations following a shock to inflation, inflation expectations, and oil prices. For the 13 countries that adopted inflation …
Persistent link: https://www.econbiz.de/10010772603
financial policy and analysis covering four areas: the emergence and taming of the great inflation, developments in US external …
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We present new evidence on how heterogeneity in banks interacts with monetary policy changes to impact bank lending, at both the bank and U.S. state levels. Using an exogenous policy measure identified from narratives on FOMC intentions and real-time economic forecasts, we find much stronger...
Persistent link: https://www.econbiz.de/10010772615
frequently during the Great Inflation era due to fixed deposit rate ceilings. I estimate the effect of deposit rate ceilings …
Persistent link: https://www.econbiz.de/10011027116