Showing 1 - 10 of 1,059
This paper examines the long-run relationship between consumer price index industrial workers (CPI-IW) inflation and …, there is a negative long-run relationship between inflation and economic growth in India. We also find statistically …-significant inflation-growth threshold effects in the case of states with persistently-elevated inflation rates of above 5.5 percent. This …
Persistent link: https://www.econbiz.de/10011142122
This is the third chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation-Targeting Regimes …: Saying What You Do and Doing What You Say." It examines a number of elements in the design of an inflation …-targeting framework. These include the definition of the target variable, the relevance of core measures of inflation, and the advantages …
Persistent link: https://www.econbiz.de/10004999952
This is the second chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation …-Targeting Regimes: Saying What You Do and Doing What You Say." We begin by discussing the costs of inflation, including their role in … monetary anchor, the inflation-targeting regime, and its two key intellectual roots-the absence of long-run trade-offs and the …
Persistent link: https://www.econbiz.de/10004999955
In recent years, the decline in inflation in Angola has stalled and further steps may be needed to attain the … digit inflation rate. A Vector Error Correction (VEC) model, which analyzes the factors that affect the inflationary process … in Angola, suggests that the inflation path has been largely affected by exchange rate movements. This implies that …
Persistent link: https://www.econbiz.de/10004999957
This paper analyzes the scope for systematic rules-based fiscal activism in open economies. Relative to a balanced budget rule, automatic stabilizers significantly improve welfare. But they minimize fiscal instrument volatility rather than business cycle volatility. A more aggressively...
Persistent link: https://www.econbiz.de/10004999963
This paper presents a model for Inflation Targeting under imperfect policy credibility. It modifies the conventional … time; non-linearities in the inflation equation and in the credibility generating process; and an explicit loss function …. The model highlights problems associated with the practice of setting a series of rigid near-term inflation targets. Also …
Persistent link: https://www.econbiz.de/10004999964
This is the fourth of a series of papers that are being written as part of a larger project to estimate a small quarterly Global Projection Model (GPM). The GPM project is designed to improve the toolkit to which economists have access for studying both own-country and cross-country linkages. In...
Persistent link: https://www.econbiz.de/10004999967
level of real returns consistent with their investment objectives. While inflation-linked bonds and derivatives have been … developed to hedge the effects of inflation, their limited supply and liquidity lead many investors to continue to rely on the … returns following inflation surprises. …
Persistent link: https://www.econbiz.de/10004999969
determinants of inflation in GCC, using an empirical model that includes domestic and external factors. Inflation in major trading … through growth of credit and aggregate spending. In the short-run, binding capacity constraints also explain higher inflation … is easing capacity constraints and will ultimately help to moderate price inflation. …
Persistent link: https://www.econbiz.de/10004999973
This 2003 Article IV Consultation highlights that the South African economy performed well in 2002, notwithstanding difficult global economic conditions. Supported by sound macroeconomic management and a highly competitive exchange rate, real GDP growth rose to 3.0 percent in 2002 from 2.8...
Persistent link: https://www.econbiz.de/10005248115