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This paper assesses whether corporate liquidity needs in the G7 economies were met during the containment phase of the … adversely affected nonfinancial corporate sector cash flows, generating liquidity and solvency pressures. However, corporate … the second quarter. Among listed firms, entities with weaker liquidity or solvency positions before the onset of COVID-19 …
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This paper develops a new central bank transparency index for inflation-targeting central banks (CBT-IT index). It applies the CBT-IT index to the Czech National Bank (CNB), one of the most transparent inflation-targeting central banks. The CNB has invested heavily in developing a Forecasting...
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The Bank of Japan has introduced various unconventional monetary policy tools since the launch of Abenomics in 2013, to achieve the price stability target of 2 percent inflation. In this paper, a forward-looking open-economy general equilibrium model with endogenously determined policy...
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In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. We analyze this result in the context of developing economies, where a large proportion of households are credit constrained...
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