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Macroprudential Policy and Bank Systemic Risk : Does Inflation Targeting Matter?
Belkhir, Mohamed; Ben Naceur, Sami; Candelon, Bertrand; … - 2023
This paper investigates macroprudential policy effects on bank systemic risk and the role of inflation targeting in such effects. Using bank-level data for 45 countries comprising various monetary and exchange rate regimes, our regime-dependent dynamic panel regression results point to...
Persistent link: https://www.econbiz.de/10014354108
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Commodity Price Shocks and Imperfectly Credible Macroeconomic Policies in Commodity-Exporting Small Open Economies
Medina Guzman, Juan Pablo - 2014
In this paper, we analyze how lack of credibility and transparency of monetary and fiscal policies undermines the …-country evidence that monetary policy transparency and fiscal credibility reduce the incidence of export price volatility on output …
Persistent link: https://www.econbiz.de/10013057311
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Monetary Policy Credibility and Exchange Rate Pass-Through
Carriere-Swallow, Yan - 2017
price stability and central bank credibility have reduced the second component …
Persistent link: https://www.econbiz.de/10012950431
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Inflation Targeting and Country Risk : An Empirical Investigation
Fouejieu, Armand - 2013
The sovereign debt crisis in Europe has highlighted the role of country risk premia as a link between countries' fiscal and external balances, financial conditions and monetary policy. The purpose of this paper is to estimate how adoption of inflation targeting (IT) affects spreads. It is...
Persistent link: https://www.econbiz.de/10013086328
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Inflation Targeting and Country Risk : An Empirical Investigation
Fouejieu, Armand - 2013
The sovereign debt crisis in Europe has highlighted the role of country risk premia as a link between countries' fiscal and external balances, financial conditions and monetary policy. The purpose of this paper is to estimate how adoption of inflation targeting (IT) affects spreads. It is...
Persistent link: https://www.econbiz.de/10013087779
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The Case for a Long-Run Inflation Target of Four Percent
Ball, Laurence - 2014
Many central banks target an inflation rate near two percent. This essay argues that policymakers would do better to target four percent inflation. A four percent target would ease the constraints on monetary policy arising from the zero bound on interest rates, with the result that economic...
Persistent link: https://www.econbiz.de/10013050668
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The U.S. Oil Supply Revolution and the Global Economy
Mohaddes, Kamiar - 2016
This paper investigates the global macroeconomic consequences of falling oil prices due to the oil revolution in the United States, using a Global VAR model estimated for 38 countries/regions over the period 1979Q2 to 2011Q2. Set-identification of the U.S. oil supply shock is achieved through...
Persistent link: https://www.econbiz.de/10012998782
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Disagreement About Future Inflation : Understanding the Benefits of Inflation Targeting and Transparency
Brito, Steve - 2018
We estimate the determinants of disagreement about future inflation in a large and diversesample of countries, focusing on the role of monetary policy frameworks. We offer novelinsights that allow us to reconcile mixed findings in the literature on the benefits of inflationtargeting regimes and...
Persistent link: https://www.econbiz.de/10012925001
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Das Public Kapital : How Much Would Higher German Public Investment Help Germany and the Euro Area?
Elekdag, Selim Ali - 2015
Given the backdrop of pressing infrastructure needs, this paper argues that higher German public investment would not only stimulate domestic demand in the near term and reduce the current account surplus, but would also raise output over the longer-run as well as generate beneficial regional...
Persistent link: https://www.econbiz.de/10013028678
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The Monetary Policy Credibility Channel and the Amplification Effects in a Semi-Structural Model
Chansriniyom, Thitipat; Epstein, Natan P.; Nalban, Valeriu - 2021
credibility. In our setting, central bank credibility is proportional to the deviation of inflation expectations from the … announced inflation target, with positive deviations being more costly compared to negative ones. A loss in policy credibility …. We find that the extended model with credibility effects matches well the key macroeconomic data over specific past …
Persistent link: https://www.econbiz.de/10013315093