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financial policy and analysis covering four areas: the emergence and taming of the great inflation, developments in US external …
Persistent link: https://www.econbiz.de/10011114882
do not make a distinction between the relative impacts of short-term vs. long-term unemployment on wage inflation. Using …
Persistent link: https://www.econbiz.de/10010942918
I study optimal interest rate policy in a small open economy with consumer search in the product market. When there are search frictions, firms price-to-market, with implications for the design of monetary policy. Country-specific shocks generate deviations from the law of one price for traded...
Persistent link: https://www.econbiz.de/10011084958
euro is unlikely to displace the dollar as the dominant international currency in the near term. First, the growth … prospects of the euro area. Second, the uniqueness of EMU. Third, the benefits of incumbency." …
Persistent link: https://www.econbiz.de/10010726043
During the Bretton Woods era, balance-of-payments developments, gold losses, and exchange-rate concerns had little influence on Federal Reserve monetary policy, even after 1958 when such issues became critical. The Federal Reserve could largely disregard international considerations because the...
Persistent link: https://www.econbiz.de/10011114886
Persistent link: https://www.econbiz.de/10000626594
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
Persistent link: https://www.econbiz.de/10010723064
Large swings in capital flows into and out of emerging markets can potentially lead to excessive volatility in asset prices and credit supply. In order to lessen the impact of capital flows on financial instability, a number of researchers and policy markers have recently proposed the use of...
Persistent link: https://www.econbiz.de/10010752596