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Exchange Rate Pass-Through and the Inflation Environment in Industrialized Countries: An Empirical Investigation

Fuji, Eiji; Bailliu, Jeannine - Society for Computational Economics - SCE - 2004

This paper investigates the question of whether a transition to a low-inflation environment, induced by a shift in monetary policy, results in a decline in exchange rate pass-through to consumer prices. Our study distinguishes itself from previous empirical work in that we pay particular...

Persistent link: https://www.econbiz.de/10005345312

Complex dynamics in a Pasinetti-Solow model of Growth and distribution

Commendatore, Pasquale - Society for Computational Economics - SCE - 2004

The one-sector neoclassical growth model (Solow, 1956,RES) can generate only simple dynamics. The dynamic properties of the Solow model follow from the saving behaviour and the neoclassical technology. As shown by Day (1982, AER), when average savings are allowed to vary, the discrete-time...

Persistent link: https://www.econbiz.de/10005345243

Stepwise calibration of a higher-order Keynes-Metzler-Goodwin model

Franke, Reiner - Society for Computational Economics - SCE - 2004

The paper puts forward a deterministic macrodynamic model of the business cycle that allows for sluggish price and quantity adjustments in response to disequilibrium on product and labour markets. Based on regular oscillations of two exogenous variables, 14 reaction coefficients are determined...

Persistent link: https://www.econbiz.de/10005706508

production risk and the functional distribution of income in a developing economy

Garcia-Penalosa, Cecilia; Turnovsky, Stephen J. - Society for Computational Economics - SCE - 2002

Persistent link: https://www.econbiz.de/10005706632

Learning Dynamics and Endogenous Currency Crises

Cho, In-Koo; Kasa, Kenneth - Society for Computational Economics - SCE - 2003

Persistent link: https://www.econbiz.de/10005345662

Limited Participation, Income Distribution and Capital Account Liberalization

Francisco, Eva de - Society for Computational Economics - SCE - 2005

This paper examines theoretically, using a two-country real-business-cycle model, the effects of capital-market liberalization when there is limited participation in national financial markets. It is assumed that workers cannot smooth consumption as well as do stockholders, and therefore,...

Persistent link: https://www.econbiz.de/10005706280

Optimal Fiscal and Monetary Policy in the Presence of Remittances

Gapen, Michael; Cosimano, Thomas; Chami, Ralph - Society for Computational Economics - SCE - 2006

dynamic general equilibrium model to investigate the influence of countercyclical remittances on the conduct of fiscal and … monetary policy and trace their effects on real and nominal variables in a business cycle setting. We show that remittances …, remittances increase the correlation between labor and output, thereby producing a more volatile business cycle and increasing …

Persistent link: https://www.econbiz.de/10005342957

Paper or Plastic? The Effect of Time on Check and Debit Card Use at Grocery Stores

Klee, Elizabeth - Society for Computational Economics - SCE - 2005

Economists have long recognized that the time costs of using different forms of money can be significant and potentially affect the type of media of exchange used. Banks and retailers recognize these costs as well, and market transponder devices to pay for tolls, food and gas as a way to...

Persistent link: https://www.econbiz.de/10005132672

Aiming for the Bull's Eye: Uncertainty and Inertia in Monetary Policy

Demertzis, Maria; Viegi, Nicola - Society for Computational Economics - SCE - 2006

We study the implications of uncertainty for inflation targeting. We apply multiplicative uncertainty to a standard forward looking model and demonstrate Brainard's attenuation effect. But the result as monetary authorities become naturally more cautious at the same time monetary objectives are...

Persistent link: https://www.econbiz.de/10005342902

Estimation of Precautionary Demand by Financial Anxieties

Morita, Y.; Rahman, Md. J.; Miyagawa, S. - Society for Computational Economics - SCE - 2006

Pioneering work of modelling financial anxieties was given by Kimura et al (1999) as psychological change of people due to financial shocks. Since they regressed financial position (easy or tight) by nonstationary interest rate, their results exhibit high peaks not only in financial crisis...

Persistent link: https://www.econbiz.de/10005706203