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Optimal liquidity and economic stability
Linghui Han; Lee, Il Houng - 2012
Monetary aggregates are now much less used as policy instruments as identifying the right measure has become difficult and interest rate transmission has worked well in an increasingly complex financial system. In this process, little attention was paid to the potential spillover of excess...
Persistent link: https://www.econbiz.de/10009615556
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The ECB’s Monetary Analysis Revisited
Berger, Helge - 2008
Contents -- I. Introduction -- II. A Brief Guide Monetary Analysis in the ECB's Strategy and Its Evolution Since 1998 -- III. Survey of the Theoretical Debate -- IV. The Importance of Money for Inflation Forecasts -- V. Disaggregated Monetary Analysis -- VI. How Time Path Dependent Should the...
Persistent link: https://www.econbiz.de/10012682180
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Inflation in Pakistan : Money or Wheat?
Khan, Mohsin S - 2006
Persistent link: https://www.econbiz.de/10012691177
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The Information Content of Money in Forecasting Euro Area Inflation
Stavrev, Emil - 2008
This paper contributes to the debate on the role of money in monetary policy by analyzing the information content of money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of structural and empirical models in a consistent framework using...
Persistent link: https://www.econbiz.de/10012677626
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A Note of Caution on the Relation Between Money Growth and Inflation
Berger, Helge - 2023
We assess the bivariate relation between money growth and inflation in the euro area and the United States using hybrid time-varying parameter Bayesian VAR models. Model selection based on marginal likelihoods suggests that the relation is statistically unstable across time in both regions. The...
Persistent link: https://www.econbiz.de/10015059375
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The Impact of Research and Development Tax Incentives on Colombia's Manufacturing Sector
Mercer-Blackman, Valerie - 2008
-2002 Survey of Manufacturers database in Colombia to analyze this question. We estimate the effect of the R&D tax deduction … instituted in Colombia using Zellner's Seemingly Unrelated Regressions method, and find that the elasticity of demand of R …&D investment in manufacturing is quite high in Colombia compared to other countries, particularly for smalle …
Persistent link: https://www.econbiz.de/10012677634
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Are Capital Controls Effective in the 21st Century? The Recent Experience of Colombia
Clements, Benedict J. - 2009
This paper assesses the effects of capital controls imposed in Colombia in 2007 on capital flows and exchange rate … the appreciation of Colombia's currency, or increased the degree of independence of monetary policy. We also find that …
Persistent link: https://www.econbiz.de/10012677725
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Social Security Reforms in Colombia
Clavijo, Sergio - 2009
of public health care in Colombia during 1993-2008. Parametric pension reforms have focused on increasing the retirement … security system in Colombia is roughly 160 percent of GDP for pensions and about 97 percent of GDP for the health system …
Persistent link: https://www.econbiz.de/10012677742
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Monetary Policy Transmission in the GCC Countries
Prasad, Ananthakrishnan; Espinoza, Raphael A. - International Monetary Fund (IMF) - 2012
The GCC countries maintain a policy of open capital accounts and a pegged (or nearly-pegged) exchange rate, thereby reducing their freedom to run an independent monetary policy. This paper shows, however, that the pass-through of policy rates to retail rates is on the low side, reflecting the...
Persistent link: https://www.econbiz.de/10010878414
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Fiscal Policy in Pakistan Since 1970
International Monetary Fund (IMF); International … - 1992
The analysis in this paper suggests that the large fiscal deficits that Pakistan has experienced over most of the period since 1970 led to some crowding out of private investment, resulting in slower output growth than would otherwise have been observed. Past fiscal deficits have also resulted...
Persistent link: https://www.econbiz.de/10005248177