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Household debt, consumption, and monetary policy in Australia
Loukoianova, Elena; Wong, Yu Ching; Hussiada, Ioana - 2019
This paper discusses the evolution of the household debt in Australia and finds that while higher-income and higher …
Persistent link: https://www.econbiz.de/10012019787
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Retail Bank Interest Rate Pass-Through : Is Chile Atypical?
Rebucci, Alessandro - 2003
Chile, the United States, Canada, Australia, New Zealand, and five European countries. Overall, Chile''s pass-through does …
Persistent link: https://www.econbiz.de/10014399635
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The Impact of Monetary Policyon the Exchange Rate : Evidence From Three Small Open Economies
Zettelmeyer, Jeromin - 2000
interest rates to policy announcements—on the exchange rate in Australia, Canada, and New Zealand during the 1990s. The main …
Persistent link: https://www.econbiz.de/10014399930
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Explicit and Implicit Targets in Open Economies
Sgherri, Silvia - 2005
Under a flexible inflation targeting regime, should policymakers avoid any reaction to movements in the foreign … exchange market? Using data for six advanced open economies explicitly targeting inflation, the paper examines empirically … monetary policy responses in inflation-targeting, open economies have changed significantly, as the institutional framework for …
Persistent link: https://www.econbiz.de/10014404206
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Hysteresis and business cycles
Cerra, Valerie; Fatás, Antonio; Saxena, Sweta Chaman - 2020
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as 'hysteresis,' argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and...
Persistent link: https://www.econbiz.de/10012251398
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China's rebalancing : recent progress, prospects and policies
Mano, Rui C.; Zhang, Jiayi - 2018
While China's growth gathered momentum in 2017, rebalancing was uneven and decelerated along many dimensions reflecting the temporary factors behind the growth pickup. Going forward, rebalancing is expected to proceed as these temporary factors recede, but elevated income inequality and leverage...
Persistent link: https://www.econbiz.de/10012112238
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The effective lower bound for the policy rate in euroized economies : an application to the case of Albania
Della Valle, Guido; Themeli, Erald; Veyrune, Romain; … - 2018
Based on the experience of the Bank of Albania, the paper proposes a framework to estimate the interest rate lower bound in small, open, and euroized economies. The paper introduces a stylized monitoring tool to assess the unintended consequences of low policy rates. The paper is the first...
Persistent link: https://www.econbiz.de/10011848127
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Inflation Targeting in Dollarized Economies
Leiderman, Leonardo - 2006
The shift to inflation targeting has contributed to the relatively low inflation observed in some emerging market … impact on real and financial sectors, it does not preclude the use of inflation targeting as a policy regime …
Persistent link: https://www.econbiz.de/10014402285
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Recoveries in the Middle East, North Africa, and Pakistan : Have Macroeconomic Policies Been Effective?
Grigoli, Francesco - 2010
This paper identifies and documents the properties of output gap recessions and recoveries in the Middle East, North Africa, and Pakistan (MENAP) during the 1980 to 2008 period. It goes on to investigate the key determinants of the recoveries. The duration of MENAP countries’ recessions and...
Persistent link: https://www.econbiz.de/10014402721
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Structural Reforms in the Euro Area : Economic Impact and Role of Synchronization Across Markets and Countries
Everaert, Luc - 2006
Using the IMF''s Global Economic Model, calibrated to the European Union, the effects of reform in product and labor markets are quantified for both a large and a small euro area economy. When markups in these markets are reduced, there are sizable long-term gains in output and employment. Most...
Persistent link: https://www.econbiz.de/10014402975