Showing 1 - 10 of 29
Inflation expectations are a key variable in conducting monetary policy. However, these expectations are generally unobservable and only certain proxy variables exist, such as surveys on inflation expectations. This paper offers guidance on the appropriate quantification of household inflation...
Persistent link: https://www.econbiz.de/10011098075
We ask whether FX dealers from Kyrgyzstan, a low income country, have similar perceptions to FX dealers from other international financial centers. Perceptions of Kyrgyz FX dealers in the interbank market are tested using detailed survey data against survey information from five major financial...
Persistent link: https://www.econbiz.de/10005091292
We ask whether FX dealers from Kyrgyzstan, a low income country, have similar perceptions to FX dealers from other international financial centers. Perceptions of Kyrgyz FX dealers in the interbank market are tested using detailed survey data against survey information from five major financial...
Persistent link: https://www.econbiz.de/10008925044
Some observers argue that increased real integration has led to greater co-movement of prices internationally. We examine the evidence for cross-border price spillovers among economies participating in the pan-Asian cross-border production networks. Starting with country-level data, we find that...
Persistent link: https://www.econbiz.de/10010942528
This paper quantifies the effect of the government-controlled appreciation of the Chinese renminbi (RMB) vis-à-vis the USD from 2005 to 2008 on the prices charged by US producers. As the RMB during that time was pegged to a basket of currencies, the empirical strategy must account for the fact...
Persistent link: https://www.econbiz.de/10009652258
In this paper, we analyse the sources of economic growth in Switzerland during the period 1991–2005. The results suggest that labour input and capital input contribute 0.57 pp and 0.45 pp, respectively, to the average annual GDP growth of 1.28%. The remaining 0.25 pp represent growth in...
Persistent link: https://www.econbiz.de/10008471876
This paper analyses the interplay of capacity utilisation, capacity constraints, demand constraints and price adjustments, employing a unique firm-level data set for Swiss manufacturing firms. Theoretically, capacity constraints limit the ability of firms to expand production in the short run...
Persistent link: https://www.econbiz.de/10008481993
We develop a reciprocity-based model of wage determination and incorporate it into a modern dynamic general equilibrium framework. We estimate the model and find that, among potential determinants of wages, rent-sharing (between workers and firms) and wage entitlement (based on wages earned in...
Persistent link: https://www.econbiz.de/10008523825
This study investigates the pass-through of exchange rate and import price shocks to different aggregated prices in Switzerland. The baseline analysis is carried out with recursively identified vector autoregressive (VAR) models. The data set comprises monthly observations, and pass-through...
Persistent link: https://www.econbiz.de/10005011496
Using U.S. and euro area data, this paper presents a significant and proportional relationship between money growth and subsequent inflation when accounting for equilibrium velocity movements due to inflation regimes changes. These movements, driven by money demand adjustments to low-frequency...
Persistent link: https://www.econbiz.de/10005069890