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money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of … contains relevant information for inflation in some model classes. Money-based New Keynesian DSGE models and VARs incorporating …
Persistent link: https://www.econbiz.de/10012677626
-- III. Survey of the Theoretical Debate -- IV. The Importance of Money for Inflation Forecasts -- V. Disaggregated Monetary …
Persistent link: https://www.econbiz.de/10012682180
ABOUT INFLATION? -- V. SUMMARY AND CONCLUSIONS -- References. …
Persistent link: https://www.econbiz.de/10012691177
This paper examines the pattern of excess liquidity in sub-Saharan Africa and its consequences for the effectiveness of monetary policy. The paper argues that understanding the consequences of excess liquidity requires quantifying the extent to which commercial bank holdings of excess liquidity...
Persistent link: https://www.econbiz.de/10005826003
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
This paper surveys the evidence on the effectiveness of monetary transmission in low-income countries. It is hard to come away from this review with much confidence in the strength of monetary transmission in such countries. We distinguish between the ""facts on the ground"" and ""methodological...
Persistent link: https://www.econbiz.de/10009618588
inflation than output growth. Our estimated dynamic policy coefficients characterize the style of policy as a ""bang …
Persistent link: https://www.econbiz.de/10012677535
Persistent link: https://www.econbiz.de/10012691167
We empirically examine U.S. monetary policy spillovers to the Middle East and Central Asia (ME & CA) region by decomposing U.S. interest rates changes into two orthogonal shocks: the pure monetary policy shock and the information news shock. Using a sample of 16 ME & CA countries, we find that...
Persistent link: https://www.econbiz.de/10015058845
Monetary policy influences inflation dynamics by exerting impact on a diverse array of commodity prices. At high … importance of the commodity-price channel of monetary policy on domestic and international inflation at longer horizons (6 … accounts for 47% of the total effect of US monetary policy on US headline inflation, and 57% of the effect of US monetary …
Persistent link: https://www.econbiz.de/10015059018