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predictions of a forward-looking model of inflation. Wealth effects of public debt could also affect inflation, as posited by the … fiscal theory of the price level, but we do not find supportive evidence. The results suggest that the risk of a debt-inflation … inflation. …
Persistent link: https://www.econbiz.de/10005263906
of inflation. Differences between the rate of inflation and currency depreciation (over- or undershooting of the exchange …
Persistent link: https://www.econbiz.de/10005264134
inflation. The results also suggest that a disequilibrium in the money market has a lasting impact on inflation. The paper …
Persistent link: https://www.econbiz.de/10005825934
The introduction of a new currency has often occurred as part of a program to fight hyperinflation. In this context, non-uniform conversion rates for different types of assets and liabilities have been used as a means of reducing an initial “excess” stock of liquidity. The paper examines the...
Persistent link: https://www.econbiz.de/10005826265
money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of … contains relevant information for inflation in some model classes. Money-based New Keynesian DSGE models and VARs incorporating …
Persistent link: https://www.econbiz.de/10005826669
This paper investigates inflation dynamics in Sudan using three different approaches: the single equation model, the …-conflict country that uses these three separate techniques to understand inflation dynamics. The use of these approaches is … inflation with 18-24 months time lag. …
Persistent link: https://www.econbiz.de/10005768738
Yemen has had a high and volatile rate of inflation in recent years. This paper studies the underlying determinants of … inflation dynamics in Yemen using three different approaches: (i) a single equation model, (ii) a Structural Vector … Autoregression Model, and (iii) a Vector Error Correction Model. The outcomes suggest that inflation dynamics in Yemen are driven by …
Persistent link: https://www.econbiz.de/10008542979
these policy instruments. It commits to higher money supply in the future so that the private sector expects inflation …
Persistent link: https://www.econbiz.de/10005599394
Monetary aggregates continue to play an important role in the ECB's policy strategy. This paper revisits the case for money, surveying the ongoing theoretical and empirical debate. The key conclusion is that an exclusive focus on non-monetary factors alone may leave the ECB with an incomplete...
Persistent link: https://www.econbiz.de/10005599686
transmission mechanism through which domestic policies affected the dynamics of inflation was relatively small during a period of … high but relatively stable inflation (January 1978-85), it became an important factor in the inflation process during the …
Persistent link: https://www.econbiz.de/10005604822