Showing 1 - 10 of 200
This paper examines empirically U.S. broad money demand emphasizing the role of financial market risk. We find that money demand rises with the liquidity risk of stock markets or the credit risk of corporate bond markets. After controlling for the effect of financial market risk, money demand...
Persistent link: https://www.econbiz.de/10005248246
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
inflation and posed a price puzzle insofar their evolution was not responsive to record low interest rates, double digit … commodities inflation, and sharp exchange rate depreciation. Commodities prices were shown to be driven by one common trend … accelerating commodities price inflation, subsequent world recession, and financial disorder; or tighten monetary policy with …
Persistent link: https://www.econbiz.de/10005263936
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
This article uses two analytical methodologies to understand the dynamics of inflation in Paraguay, the mark-up theory … of inflation and the monetary theory of inflation. We also study the impact of different monetary aggregates. The results … suggest that monetary factors, in particular currency in circulation, play a major role in determining long-run inflation …
Persistent link: https://www.econbiz.de/10005826475
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
inflation. In this paper, we show that a stable money demand function for Russia can be found for "effective broad money," which … effect on short-run inflation. …
Persistent link: https://www.econbiz.de/10005769060
sub-Saharan African countries on the relative importance of fiscal and monetary determinants of inflation. Based on the … dynamic response of inflation to different shocks, including nominal public debt, results show that a number of SSA countries … of inflation variability, as predicted by the fiscal theory of the price level. …
Persistent link: https://www.econbiz.de/10005769262
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