for monetary policy in influencing inflation in the short run. SSA's rapid growth, its integration with the global economy … quantitatively analyze inflation dynamics in SSA using a Global VAR model, which incorporates trade and financial linkages among … economies, as well as the role of regional and global demand and inflationary spillovers. We find that in the past 25 years, the …

We investigate the drivers of dynamics of major U.S. FX bilaterals. We first construct a novel measure of FX risk … premiums using Consensus exchange rate forecasts. We then use VAR analysis to show that (i) risk premium shocks play a key role …); and (iv) risk appetite shocks (e.g., VIX shocks) generally lead to U.S. dollar appreciation. The importance of risk …

Fiscal stimulus was widely advocated during the global crisis, a period characterized by monetary policy constrained by …

against the use of this policy instrument as such. From a global perspective, optimal monetary policy should be assessed in …

as soon as bank risk appetite heats up. Within this shorter time span, cuts must then be deeper than otherwise to also …