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The Great Recession and the Inflation Puzzle

Matheson, Troy; Stavrev, Emil - International Monetary Fund (IMF) - 2013

Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been remarkably stable. We find that a traditional Phillips curve describes the behavior of inflation reasonably well since the 1960s. Using a non-linear Kalman filter that allows for...

Persistent link: https://www.econbiz.de/10010790401

A Phillips Curve with Anchored Expectations and Short-Term Unemployment

Ball, Laurence M.; Mazumder, Sandeep - International Monetary Fund (IMF) - 2015

This paper examines the recent behavior of core inflation in the United States. We specify a simple Phillips curve based on the assumptions that inflation expectations are fully anchored at the Federal Reserveâ€™s target, and that labor-market slack is captured by the level of shortterm...

Persistent link: https://www.econbiz.de/10011242402

Czech Koruna and Polish Zloty Currency Options; Information Contnent and Eu-Accession Implications

Morales, Armando Méndez - International Monetary Fund (IMF) - 2000

GARCH model shows a positive impact of the introduction of the Euro on exchange rate volatility for the Polish zloty … (negative for the Czech koruna), related to its larger exposure to external shocks. For countries in transition to Euro …

Persistent link: https://www.econbiz.de/10005248136

Will the Emergence of the Euro Affect World Commodity Prices?

Liang, Hong; Cuddington, John T. - International Monetary Fund (IMF) - 2000

This study provides evidence that episodes of internal stability of exchange rates among the 11 Euro countries during … Euro on January 1, 1999, should be expected to contribute to reduced volatility of world commodity prices, other things …

Persistent link: https://www.econbiz.de/10005263979

Slovak Republic; 2004 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Slovak Republic

International Monetary Fund (IMF); International … - 2005

This 2004 Article IV Consultation highlights that Slovakiaâ€™s economic performance has improved since the 2003 Article IV Consultation. Output has expanded strongly, and fiscal and external balances have narrowed substantially in recent years. These developments were assisted by large...

Persistent link: https://www.econbiz.de/10005825144

The Euro's Challenge to the Dollar; Different Views From Economists and Evidence From Cofer (Currency Composition of Foreign Exchange Reserves) and Other Data

Lim, Ewe-Ghee - International Monetary Fund (IMF) - 2006

This paper examines opposing views on the euro's challenge to the dollar as an international currency. One view … euro has significantly overtaken the legacy currencies as a reserve currency. Generally, large economic size alone is … insufficient to challenge the network externalities supporting vehicle currencies, but scope exists for the euro to advance as an …

Persistent link: https://www.econbiz.de/10005825711

Foreign Exchange Market Volatility in Eu Accession Countries in the Run-Up to Euro Adoption; Weathering Uncharted Waters

Székely, István P.; Kóbor, Ãdám - International Monetary Fund (IMF) - 2004

The paper analyzes foreign exchange market volatility in four Central European EU accession countries in 2001-2003. By using a Markov regime-switching model, it identifies two regimes representing high- and low-volatility periods. The estimation results show not only that volatilities are...

Persistent link: https://www.econbiz.de/10005826312

Adopting the Euro in Central Europe; Challenges of the Next Step in European Integration

International Monetary Fund (IMF); International … - 2005

derogation from adopting the euro as their currency (that is, each country joining the EU commits to replace its national … currency with the euro, but can choose when to request permission to do so). For most of these countries, adopting the euro … convergence with the rest of the euro area. …

Persistent link: https://www.econbiz.de/10005767345

Euro-Dollar Real Exchange Rate Dynamics in an Estimated Two-Country Model; What is Important and What is Not

Tuesta, Vicente; Rabanal, Pau - International Monetary Fund (IMF) - 2006

United States and the euro area, and we perform model comparisons to study the importance of departing from the law of one …

Persistent link: https://www.econbiz.de/10005769212

The Impact of the EMUon the Structure of European Equity Returns; An Empirical Analysis of the First 21 Months

Kraus, Thomas - International Monetary Fund (IMF) - 2001

Using symmetric data sets of 92 weekly return observations before and after the introduction of the euro, the paper …

Persistent link: https://www.econbiz.de/10005769273