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To estimate the New Keynesian model, we use four key macroeconomic series for Thailand. The priors are chosen to reflect general considerations of the appropriate model dynamics and our judgment about the Thai economy. The model is solved initially so that the baseline forecast replicates staff...
Persistent link: https://www.econbiz.de/10011242710
EXECUTIVE SUMMARYEuroclear Bank is a securities settlement system that contributes to the safety and efficiency of global markets for government bonds and other international securities but also concentrates systemic risk. It is one of the largest securities settlement systems worldwide with a...
Persistent link: https://www.econbiz.de/10012677395
This Selected Issues paper assesses the youth unemployment problem in advanced European economies, especially the euro area. Youth unemployment rates increased sharply in the euro area after the crisis. Much of these increases can be explained by output dynamics and the greater sensitivity of...
Persistent link: https://www.econbiz.de/10012678337
to revisit the ECB's balance sheet policy. With inflation running above target, the monetary accommodation provided by …'s balance sheet policy. With inflation running above target, the monetary accommodation provided by the ECB's bond holding is no …
Persistent link: https://www.econbiz.de/10015059226
inflation has fallen sharply recently after reaching record high levels, core inflation is proving more persistent. As tight … financial conditions restrain demand and supply shocks dissipate further, inflation is set to decline further but is expected to … inflation and hurt growth. On the upside, the economy could again prove more resilient than expected, especially amid a still …
Persistent link: https://www.econbiz.de/10015059227
This paper on Republic of Croatia focuses on representative rate for the Euro. The Council of the European Union decided on July 12, 2022 that the Republic of Croatia had fulfilled the necessary conditions for adoption of the euro with effect from January 1, 2023, and that the conversion rate...
Persistent link: https://www.econbiz.de/10015059705
This paper provides model-based projections of inflation, and quantifies the impact of the factors that determine … inflation. The reasons behind the poor labor market performance in Greece and the remedial policies are discussed. The new …
Persistent link: https://www.econbiz.de/10005591040
This Selected Issues paper looks at short-term inflation dynamics in the new member states (NMS) of the European Union …, focusing on the role of monetary policy regimes. It models the determinants of inflation in the NMS and assesses how different … of NMS, evaluates their role in reducing inflation, and identifies some of their distinctive characteristics. The paper …
Persistent link: https://www.econbiz.de/10005591070
with inflation and inflation targeting. It examines several institutional aspects of inflation targeting and compares … Israel with other emerging market regimes. Various procedural issues associated with implementing an inflation …
Persistent link: https://www.econbiz.de/10005768507
This Selected Issues paper on Denmark underlies estimates of inefficiencies in the goods and labor markets. The IMF’s new macroeconomic model, the global economic model (GEM), has been used to provide estimates of the impact of successfully implementing the European Council’s...
Persistent link: https://www.econbiz.de/10005768530