Showing 1 - 10 of 710
This paper reviews recent advances in the specification and estimation of Bayesian Vector Autoregressive models (BVARs). After describing the Bayesian principle of estimation, we first present the methodology originally developed by Litterman (1986) and Doan et al. (1984) and review alternative...
Persistent link: https://www.econbiz.de/10005825693
This study examines money demand and inflation dynamics in the Islamic Republic of Iran using quarterly data for the … long-run money market equilibrium condition is identified and the short-run behavior of the inflation, measured in terms of …/01-2001/02 buoyed the demand for domestic money and contributed to the decline in inflation. Tests of model stability do not point to a …
Persistent link: https://www.econbiz.de/10005825599
indicators of the clarity and credibility of the commitment to the inflation target. The three regimes can be viewed as …This paper classifies countries that define their monetary policy framework by an inflation target into full …-fledged inflation targeters, eclectic inflation targeters and inflation targeting lite regimes. This classification is based on …
Persistent link: https://www.econbiz.de/10005825645
abandon fixed exchange rate regimes and to design institutions and monetary policies to achieve credibility in the goal of … lowering inflation. Such recent developments have brought to the forefront the idea that freely mobile capital, independent … all three. Inflation-targeting regimes being adopted by many countries provide a way of resolving this dilemma. …
Persistent link: https://www.econbiz.de/10005825662
This paper examines the determinants of inflation in Sierra Leone using a structural vector autoregression (VAR …) approach to help forecast inflation for operational purposes. Despite data limitations, the paper accurately models inflation … in Sierra Leone. As economic theory predicts, domestic inflation is found to increase with higher oil prices, higher …
Persistent link: https://www.econbiz.de/10005825688
This paper investigates how consumer price inflation is determined in Mali for 1979-2006 along three macroeconomic … long-run determinants of inflation. The paper offers policy recommendations for controlling inflation in Mali. …
Persistent link: https://www.econbiz.de/10005825714
been based on discretionary targeting of broad money without any clear target to anchor inflation expectations. This paper … are required to strengthen the ability of the CBY in achieving low and stable rates of inflation over the medium term. …
Persistent link: https://www.econbiz.de/10005825743
We study exchange rate and equity price dynamics, in general equilibrium, in the presence of news shocks about future productivity and monetary policy. We identify a condition under which these asset prices become more volatile without affecting the volatility of the underlying processes-a...
Persistent link: https://www.econbiz.de/10005825757
The paper analyzes the relationship between large-scale capital inflows and sterilization efforts in the Czech Republic during 1993–96 using a vector autoregression (VAR) model, which consists of domestic credit, foreign reserves, and domestic and foreign interest rates. The analysis finds...
Persistent link: https://www.econbiz.de/10005825811
-induced inflation anticipations that are typical to Guyana. …
Persistent link: https://www.econbiz.de/10005825837