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a freely floating exchange rate, an explicit target for inflation, and a mechanism than ensures a stable government debt … domestic and CPI inflation targeting interest rate rules alongside a 'Structural Surplus Fiscal Rule' as followed recently in … Chile. A comparison with a fixed exchange rate regime is made. We find that domestic inflation targeting is superior to …
Persistent link: https://www.econbiz.de/10005825799
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
facing the Czech Republic. In the context of the recent rising inflation pressures, we analyze how the authorities' fiscal … reform package and the planned reduction in the inflation target in 2010 would weigh on the conduct of monetary policy. …
Persistent link: https://www.econbiz.de/10005825838
This is the second of a series of papers that are being written as part of a larger project to estimate a small quarterly Global Projection Model (GPM). The GPM project is designed to improve the toolkit for studying both own-country and cross-country linkages. In this paper, we estimate a small...
Persistent link: https://www.econbiz.de/10005825847
Exchange rate-based inflation stabilization (ERBS) policies are associated with a boom-recession cycle in economic … forward-looking pricing behavior without inflation stickiness and attribute the slow decline in inflation to the consumption …-looking components of inflation weigh approximately equally in pricing behavior, and therefore, that inflation is partially sticky. The …
Persistent link: https://www.econbiz.de/10005825871
This paper provides an overview of statistical measurement issues relating to alternative measures of core inflation …
Persistent link: https://www.econbiz.de/10005825874
countries with low pre-crisis inflation and hard pegs have been at least narrowly successful for countries in deeper disarray …) monetary aggregate targeting rarely serves as a coherent framework for floats; informal or full-fledged inflation targeting …
Persistent link: https://www.econbiz.de/10005825883
References to policy credibility, particularly with regard to fiscal policy, are ubiquitous in both economic literature and financial markets, even though it is not directly observable. The case of the EU new member states (NMS)-emerging markets joining a supranational entity that is generally...
Persistent link: https://www.econbiz.de/10005825886
Sudanese inflation dramatically fell in 2000. But just prior to the sharp decline, an export ban was placed on Sudanese … value. In the long run, livestock exports are positively associated with nonfood inflation. In the short run, food price …
Persistent link: https://www.econbiz.de/10005825891