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Non-linear exchange rate pass-through in emerging markets

Caselli, Francesca G.; Roitman, Agustin - 2016

This paper estimates exchange rate pass-through to consumer prices in emerging markets focusing on non-linearities and asymmetries. We document non-linearities and asymmetries in the transmission of exchange rate fluctuations to prices using local projection techniques to obtain state dependent...

Persistent link: https://www.econbiz.de/10011436820

How informative are real time output gap estimates in Europe?

Kangur, Alvar; Kirabaeva, Koralai; Natal, Jean-Marc; … - 2019

We study the properties of the IMF-WEO estimates of real-time output gaps for countries in the euro area as well as the determinants of their revisions over 1994-2017. The analysis shows that staff typically saw economies as operating below their potential. In real time, output gaps tend to have...

Persistent link: https://www.econbiz.de/10012103755

Fiscal dominance in Sub-Saharan Africa revisited

Hooley, John; Nguyen, Lam; Saito, Mika; Towfighian, … - 2021

This paper explores the causes and consequences of fiscal dominance over monetary policy in Sub-Saharan Africa (SSA). Fiscal dominance has always been a pressing problem as it can contribute to inflation and macroeconomic instability, and increasingly so as fiscal deficits and public debt are...

Persistent link: https://www.econbiz.de/10012517915

Does Global Liquidity Matter for Monetary Policy in the Euro Area?

Berger, Helge - 2009

Global excess liquidity is sometimes believed to limit sovereign monetary policy even in large economies, including the … euro area. There is much discussion about what constitutes global excess liquidity and our approach adjusts liquidity for … longer-term interest rate and output effects. We find that especially excess liquidity in the U.S. leads developments in euro …

Persistent link: https://www.econbiz.de/10014404266

Hysteresis in labor markets? : evidence from professional long-term forecasts

Bluedorn, John Christopher; Leigh, Daniel - 2019

We explore the long-term impact of economic booms on labor market outcomes using a novel approach based on revisions to professional forecasts over the past 30 years for 34 advanced economies. We find that when employment rises unexpectedly, forecasters typically raise their long-term forecasts...

Persistent link: https://www.econbiz.de/10012022008

Inflation Targeting and Fiscal Rules : Do Interactions and Sequencing Matter?

Combes, Jean-Louis - 2014

The paper examines the joint impact of inflation targeting (IT) and fiscal rules (FR) on fiscal behavior and inflation in a broad panel of advanced and developing economies over the period 1990-2009. The main contribution of the paper is to show that, as suggested by the theoretical literature,...

Persistent link: https://www.econbiz.de/10014411331

Impact of Demographic Changes on Inflation and the Macroeconomy

Yoon, Jong-won - 2014

The ongoing demographic changes will bring about a substantial shift in the size and the age composition of the population, which will have significant impact on the global economy. Despite potentially grave consequences, demographic changes usually do not take center stage in many macroeconomic...

Persistent link: https://www.econbiz.de/10014411766

Hitchhiker’s Guide to Inflation in Libya

Cevik, Serhan - 2013

This paper presents an empirical investigation of inflation dynamics in Libya over the period 1964–2010, using cointegration and error correction models. While inflation inertia is found to be a key determinant of consumer price inflation, the econometric results indicate that government...

Persistent link: https://www.econbiz.de/10014395269

Effects of fiscal consolidation in the Czech Republic

Kljuev, Vladimir Vladimirovič; Snudden, Stephen - 2011

Persistent link: https://www.econbiz.de/10009486224

Public debt, discretionary policy, and inflation persistence

Niemann, Stefan; Pichler, Paul; Sorger, Gerhard - In: Journal of economic dynamics & control 37 (2013) 6, pp. 1097-1109

Persistent link: https://www.econbiz.de/10009740455