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Monetary Transmission Mechanism in Transition Economies: Surveying the Surveyable
Egert, Balazs; MacDonald, Ronald - CESifo - 2006
This paper surveys recent advances in the monetary transmission mechanism (MTM). In particular, while laying out the functioning of the separate channels in the MTM, special attention is paid to exploring possible interrelations between different channels through which they may amplify or...
Persistent link: https://www.econbiz.de/10005094342
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Monetary Transmission Mechanism in Transition Economies : Surveying the Surveyable
Égert, Balázs - 2013
This paper surveys recent advances in the monetary transmission mechanism (MTM). In particular, while laying out the functioning of the separate channels in the MTM, special attention is paid to exploring possible interrelations between different channels through which they may amplify or...
Persistent link: https://www.econbiz.de/10012754233
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China's Exchange Rate Impasse and the Weak U.S. Dollar
McKinnon, Ronald; Schnabl, Gunther - 2021
excess liquidity reminiscent of the global inflation generated by the weak dollar in the 1970s …
Persistent link: https://www.econbiz.de/10013316479
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Vote Buying or (Political) Business (Cycles) as Usual?
Aidt, Toke Skovsgaard; Asatryan, Zareh; Badalyan, Lusine; … - 2021
We study the short-run effect of elections on monetary aggregates in a sample of 85 low and middle income democracies (1975-2009). We find an increase in the growth rate of M1 during election months of about one tenth of a standard deviation. A similar effect can neither be detected in...
Persistent link: https://www.econbiz.de/10013315531
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Dutch Disease Scare in Kazakhstan : Is it Real?
Égert, Balázs; Scott Leonard, Carol - 2021
In this paper we explore the evidence that would establish that Dutch disease is at work in, or poses a threat to, the Kazakh economy. Assessing the mechanism by which fluctuations in the price of oil can damage non-oil manufacturing and thus long-term growth prospects in an economy that relies...
Persistent link: https://www.econbiz.de/10013317109
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How Banks Respond to Negative Interest Rates : Evidence from the Swiss Exemption Threshold
Basten, Christoph - 2018
We analyze the effect of negative monetary policy rates on banks, using detailed supervisory information from Switzerland. For identification, we compare changes in the behavior of banks that had different fractions of their central bank reserves exempt from negative rates. More affected banks...
Persistent link: https://www.econbiz.de/10012921277
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Long-Term Interest Rates and Public Debt Maturity
Sakalauskaite, Ieva - 2013
is stronger for countries with higher average inflation or debt …
Persistent link: https://www.econbiz.de/10013075134
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Exchange Rate Dynamics Under Alternative Optimal Interest Rate Rules
Binici, Mahir - 2013
sample periods. The exchange rate equation implied by the interest rate rule that allows for interest rate and inflation …
Persistent link: https://www.econbiz.de/10013092385
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Around the World with Irving Fisher
Gylfason, Thorvaldur; Tómasson, Helgi; Zoega, Gylfi - CESifo - 2015
This paper aims to show why Irving Fisher’s own data on interest rates and inflation in New York, London, Paris, Berlin … changes in inflation, not even in the long run. In Fisher’s data, interest rates have more persistence than inflation and … change less than inflation over time. The Fisher effect is a misnomer unless it is taken to refer to what Fisher actually …
Persistent link: https://www.econbiz.de/10011205384
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The Price Puzzle Revisited : Can the Cost Channel Explain a Rise in Inflation after a Monetary Policy Shock?
Henzel, Steffen - 2013
restrictions which are not rejected by the data - the cost channel helps to generate an initial rise of inflation after a monetary …
Persistent link: https://www.econbiz.de/10012753889