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Financial Markets and Inflation Under Imperfect Information
De Gregorio, Jose - 1994
This paper studies the effect of inflation on the operation of financial markets, and shows how the ability of financial intermediaries to distinguish among heterogenous firms is reduced as inflation rises. This point is illustrated by presenting a simple model where inflation affects firms’...
Persistent link: https://www.econbiz.de/10014397999
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Ownership of Capital in Monetary Economics and the Inflation Taxon Equity
Cosimano, Thomas F. - 1999
provide. This paper explicitly introduces financial instruments into the standard stochastic growth model with money and …
Persistent link: https://www.econbiz.de/10014400389
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The Information Content of Money in Forecasting Euro Area Inflation
Stavrev, Emil - 2008
This paper contributes to the debate on the role of money in monetary policy by analyzing the information content of … money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of … structural and empirical models in a consistent framework using Bayesian and other estimation techniques. We find that money …
Persistent link: https://www.econbiz.de/10014401386
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Capacity Constraints, Inflation and the Transmission Mechanism : Forward-Looking Versus Myopic Policy Rules
Clark, Peter B. - 1995
This paper develops a small model of the output-inflation process in the United States in order to examine the implications of alternative monetary policy rules. In particular, two types of policy rules are considered; a myopic rule where interest rates respond contemporaneously to output and...
Persistent link: https://www.econbiz.de/10014398146
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Inflation and Financial Depth
Khan, Mohsin S. - 2001
There is now a substantial theoretical literature arguing that inflation impedes financial deepening. Furthermore, it has been hypothesized that the relationship is a nonlinear one, in that there is a threshold level of inflation below which inflation has a positive effect on financial depth,...
Persistent link: https://www.econbiz.de/10014403632
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Fiscal Revenue, Inflationary Finance and Growth
Choudhry, Nurun N. - 1992
This paper analyzes the optimal rate of monetary expansion when government resorts to inflationary finance to generate additional investment for enhancing growth. If there are lags in tax collection, an increase in inflation erodes real fiscal revenue, thereby worsening the current balance while...
Persistent link: https://www.econbiz.de/10014396286
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What drives bank lending spreads and collateral requirements in the Kyrgyz Republic
Teodoru, Iulia Ruxandra - 2020
Limited access to finance and its high cost have contributed to relatively low levels of private investment and subpar growth in the Kyrgyz Republic. Interest rate spreads have moderated in recent years, but remain high from both a regional and global perspective. At the same time, collateral...
Persistent link: https://www.econbiz.de/10012302053
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Does the clarity of inflation reports affect volatility in financial markets?
Bulíř, Aleš; Čihák, Martin; Jansen, David-Jan - 2014
Persistent link: https://www.econbiz.de/10010441876
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Optimal Monetary Policy in a Small Open Economy Under Segmented Asset Markets and Sticky Prices
Medina Guzman, Juan Pablo - 2007
This paper studies optimal monetary policy in a two-sector small open economy model under segmented asset markets and sticky prices. We solve the Ramsey problem under full commitment, and characterize the optimal monetary policy in a calibrated version of the model. The findings of the paper are...
Persistent link: https://www.econbiz.de/10014399992
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Asset Prices, Financial Liberalization, and the Process of Inflation in Japan
Schinasi, Garry J. - 1994
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...
Persistent link: https://www.econbiz.de/10014395987