Showing 1 - 10 of 14
are notable in Central and Eastern Europe, while the index has shown much smaller rises in most other parts of the world …
Persistent link: https://www.econbiz.de/10013138709
The spillover effects of interconnectedness between financial assets are decomposed into both sources of shocks and whether they amplify or dampen volatility conditions in the target market. We use historical decompositions to rearrange information from a VAR which includes sources, direction...
Persistent link: https://www.econbiz.de/10012948930
integration with other regional and world markets in spite of ongoing capital controls …
Persistent link: https://www.econbiz.de/10013113708
This paper uses the credit-friction model developed by C'urdia and Woodford, in a series of papers, as the basis for attempting to mimic the behavior of credit spreads in moderate as well as in times of crisis. We are able to generate movements in representative credit spreads that are, at...
Persistent link: https://www.econbiz.de/10013115635
Monetary policy relies on managing the inflation expectations of the public in order to influence prices (inflation). Relying on the South African experience we argue that most of the general public are only exposed to the communication of the South African Reserve Bank (SARB) via the media....
Persistent link: https://www.econbiz.de/10012836122
Empirical evidence on the potential impact of central bank policies on government bond yields at the effective lower bound (ELB) is presented for nine economies. We quantify the content of central bank communications and consider international policy spillovers. At the ELB, yields at the...
Persistent link: https://www.econbiz.de/10012958299
This paper examines the evolution of disagreement over the short-term inflation outlook in nine advanced economies during the decade and half beginning in the 2000s. The paper focuses on how disagreement is largely shaped by the benchmark against which this concept is evaluated and the role of...
Persistent link: https://www.econbiz.de/10012958300
In this paper we investigate dynamics of global inflation and short-run inflation expectations. We estimate a global vector autoregressive (GVAR) model estimated using Bayesian techniques. We then explore the effect of three source of inflationary pressure that could drive up inflation...
Persistent link: https://www.econbiz.de/10012907659
This paper examines the monetary policy transmission mechanism in four systemically important economies. The impact of monetary policy is found to be broadly comparable for China, the US, the Eurozone, and Japan. Identifying a role for the financial sector is essential to unpacking various...
Persistent link: https://www.econbiz.de/10012909440
We examine policy rate recommendations of the Bank of Canada's Governing Council (GC) and its shadow, the C.D. Howe Institute's Monetary Policy Council (MPC). Individual recommendations of the MPC are observed but not those of the GC. Differences in the two committee's recommendations are small...
Persistent link: https://www.econbiz.de/10013050370