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Inflation Literacy, Inflation Expectations, and Trust in the Central Bank : A Survey Experiment
Dräger, Lena; Nghiem, Giang - 2023
This paper studies the causal effect of inflation literacy on inflation expectations and trust in the central bank …, we first test the effect of non-numerical information about inflation and monetary policy, the literacy treatment. In the … the literacy treatment, incorporate quantitative information differently into their inflation forecasts. We find that the …
Persistent link: https://www.econbiz.de/10014346849
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Oil Prices, Exchange Rates and Sectoral Stock Returns in the BRICS-T Countries: A Time-Varying Approach
Caporale, Guglielmo Maria; Catik, Abdurrahman Nazif; … - 2021
This paper analyses the effects of oil prices and exchange rates on sectoral stock returns in the BRICS-T countries over the period from 2 January 2001 to 22 March 2021. After estimating a benchmark linear model, the possible presence of structural breaks is investigated using the Bai and Perron...
Persistent link: https://www.econbiz.de/10012658028
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Oil Prices, Exchange Rates and Asset Prices
Fratzscher, Marcel; Schneider, Daniel; Robays, Ine Van - 2013
This paper takes a financial market perspective in examining the relationship between oil prices, the US dollar and asset prices, and it exploits the heteroskedasticity for the identification of causality in a multifactor model. It finds a bidirectional causality between the US dollar and oil...
Persistent link: https://www.econbiz.de/10010317045
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Superneutrality of Money under Open Market Operations
Homburg, Stefan - 2015
Monetary policy is superneutral in an overlapping generations model. Previous authors have argued that superneutrality does not hold in such a setting. However, the standard results rely on the counter-factual premise of helicopter money and are overturned if money creation through open market...
Persistent link: https://www.econbiz.de/10010500381
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Open Market Operations as a Monetary Policy Shock Measure in a Quantitative Business Cycle Model
Heer, Burkhard; Schabert, Andreas - 2000
This paper presents a business cycle analysis of monetary policy shocks measured by disturbances to open market operations, i.e. the ratio of open market papers to non-borrowed reserves. We find empirical evidence for the usefulness of this policy measure, as it predicts significant declines in...
Persistent link: https://www.econbiz.de/10010314998
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China's exchange rate impasse and the weak U.S. dollar
McKinnon, Ronald; Schnabl, Gunther - 2008
excess liquidity reminiscent of the global inflation generated by the weak dollar in the 1970s. …
Persistent link: https://www.econbiz.de/10010275871
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Determinants of Inflation Expectations
Moessner, Richhild - 2021
This paper analyses the determinants of short-term inflation expectations based on surveys of professionals, using … dynamic cross-country panel estimation for a large number of 34 OECD economies. We find that food consumer price inflation and … depreciations of the domestic exchange rate have significant positive effects on professionals' survey-based inflation expectations …
Persistent link: https://www.econbiz.de/10013177519
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Exchange Rate Pass-Through to Food and Energy Consumer Price Inflation
Moessner, Richhild - 2022
This paper studies exchange rate pass-through to food and energy consumer price inflation and its dependence on the … inflation environment using cross-country panel estimation of Phillips curves. It considers a large panel of OECD member and … inflation and also significant for food CPI inflation. A 10% depreciation in the exchange rate leads to an increase in energy …
Persistent link: https://www.econbiz.de/10014290074
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Capital Controls and Exchange Rate Regimes: An Empirical Investigation
Berger, Helge; Sturm, Jan-Egbert; de Haan, Jakob - 2001
benefits of a commitment to a peg, domestic and foreign inflation (aversion), as well as business cycle volatility and …
Persistent link: https://www.econbiz.de/10010315092
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Inflation Targets Versus International Monetary Integration - A Canadian Perspective
Laidler, David - 2002
economic performance under inflation targets, and arguments that the flexible exchange rate has undermined real economic …
Persistent link: https://www.econbiz.de/10010315333