Showing 1 - 10 of 125
particular and within the standard New Keynesian model, we evaluate to what extent communication of the inflation target is …
Persistent link: https://www.econbiz.de/10010899555
This paper offers a framework to study commitment and cooperation issues in games with multiple policymakers. To reconcile some puzzles in the recent literature on the nature of policy interactions among nations, we prove that games characterized by different commitment and cooperation schemes...
Persistent link: https://www.econbiz.de/10010738606
In this paper, we aim at testing whether press conferences held after the meeting of the ECB's monetary policy council steer market short- and long-term interest rates in the euro zone. To meet this goal, we "codify" the statements according to whether they are neutral, hawkish, or dovish. We...
Persistent link: https://www.econbiz.de/10008794337
Based on panel data of 58 countries, of which 22 Inflation Targeters and 36 non Inflation Targeters, over the period 1980-2003, this paper highlights the effect of Inflation Targeting – IT- on Fiscal Discipline –FD-. We make four contributions to the literature. Firstly, by applying the 2SLS...
Persistent link: https://www.econbiz.de/10008794278
El turismo está experimentando fuertes transformaciones en las últimas décadas. Las posibilidades turísticas se están ampliando progresivamente y, junto a los destinos tradicionales, plenamente consolidados, se abren paso nuevas opciones de disfrute vacacional en las áreas rurales y...
Persistent link: https://www.econbiz.de/10010821004
-economic characteristics, this analysis takes individual media consumption into account, as a determinant of opinion about immigration. Our … preferences. Moreover, media exposure appears as a key determinant of beliefs: individuals who spend more time to get informed on …
Persistent link: https://www.econbiz.de/10010929997
How far can the media protect or undermine democratic institutions in unconsolidated democracies, and how persuasive …
Persistent link: https://www.econbiz.de/10010738773
understudied is the effect of mass media, as the main source of political information, on voter turnout in new democracies. This … theoretical framework suggests that media access and freedom affect turnout. We test our predictions in a sample of 60 developing … countries over the period 1980-2005. We find that media penetration, as measured by radio ownership, fosters turnout, whereas …
Persistent link: https://www.econbiz.de/10008793557
We consider a model where the central bank faces a credibility problem in its announcements, but also cares about its … credibility and, therefore, wants to make truthful announcements. We show that, although the central bank would be able to …
Persistent link: https://www.econbiz.de/10008836788
In the light of the economically rational expectation theory, this article shows how an expert chooses an optimal oil price forecast function given that information is costly. In this framework we propose an expectational process which nests all processes considered in the literature. By...
Persistent link: https://www.econbiz.de/10008789498