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Reversing the financial accelerator : credit conditions and macro-financial linkages
Bayoumi, Tamim A.; Darius, Reginald - 2011
Persistent link: https://www.econbiz.de/10009487099
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Outside the band : depreciation and inflation dynamics in Chile
Pérez Ruiz, Esther - 2016
substantial pass-through effects to inflation, given the large and persistent depreciation movement. Widespread indexation … indexation is less relevant to the inflation dynamics. Overall, inflation would have remained within the central bank's target …
Persistent link: https://www.econbiz.de/10011711715
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Public Debt Indexation and Denomination : The Case of Brazil
Goldfajn, Ilan - 1998
The paper models the optimal debt management strategy of the public sector when issuing nominal, price-level-indexed and foreign-denominated debt securities. The model predicts that the variance of inflation, the size of the public debt, the variance of the real exchange rate, and the...
Persistent link: https://www.econbiz.de/10014401847
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Wage and Public Debt Indexation
Guidotti, Pablo Emilio - 1992
This paper examines the relationship between the degree of wage indexation chosen by private agents and the degree of … indexation of the public debt. It is shown that the government is likely to respond to an increase in the degree of wage … indexation by increasing the portion of the public debt that is indexed. By contrast, the effect of an increase in public debt …
Persistent link: https://www.econbiz.de/10014398023
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Efficient Arbitrage Under Financial Indexation : The Case of Chile
Mendoza, Enrique G. - 1991
determine the extent to which efficient arbitrage takes place under conditions of partial financial indexation. The data cannot …
Persistent link: https://www.econbiz.de/10014396478
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Indexation and Maturity of Government Bonds : A Simple Model
International Monetary Fund - 1989
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/10014395943
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Reversing the Financial Accelerator : Credit Conditions and Macro-Financial Linkages
Bayoumi, Tamim - 2011
This paper examines the role of credit markets in the transmission of U.S. macro-financial shocks through the prism of a financial conditions index (FCI) based on a vector autoregression (VAR) methodology. It explores the relative predictive power of market variables compared to credit...
Persistent link: https://www.econbiz.de/10014403221
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The behavior of currencies during risk-off episodes
De Bock, Reinout; Carvalho Filho, Irineu de - 2013
Episodes of increased global risk aversion, also known as risk-off episodes, have become more frequent and severe since 2007. During these episodes, currency markets exhibit recurrent patterns, as the Japanese yen, Swiss franc, and U.S. dollar appreciate against other G-10 and emerging market...
Persistent link: https://www.econbiz.de/10012671010
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What's in the (r)-stars for Korea?
Rafiq, Sohrab - 2021
Korea's stars tell of an economy saddled with a real neutral rate (r-star) that has declined significantly in recent decades and is currently below zero. This reflects a significant decline in trend growth, and two large financial crises that triggered significant shifts in the saving-investment...
Persistent link: https://www.econbiz.de/10012604759
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Outlook for interest rates and Japanese banks’ risk exposures under abenomics
Arslanalp, Serkan; Lam, W. Raphael - 2013
This paper examines how Japan’s long-term interest rates and Japanese banks’ interest rate risk exposures may evolve under Abenomics. Results from a panel regression analysis for major advanced economies shows that long-term government bond yields in Japan are determined to a large extent by...
Persistent link: https://www.econbiz.de/10012667499