Narrow search
Showing 1 - 10 of 563
Cover Image
Optimal Price Indices for Targeting Inflation Under Incomplete Markets
Anand, Rahul - 2010
In models with complete markets, targeting core inflation enables monetary policy to maximize welfare by replicating the flexible price equilibrium. In this paper, we develop a two-sector two-good closed economy new Keynesian model to study the optimal choice of price index in markets with...
Persistent link: https://www.econbiz.de/10013139035
Cover Image
What Measure of Inflation Should a Developing Country Central Bank Target?
Anand, Rahul - 2015
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...
Persistent link: https://www.econbiz.de/10013016274
Cover Image
Design Choices for Central Bank Digital Currency : Policy and Technical Considerations
Allen, Sarah - 2020
Central banks around the world are exploring and in some cases even piloting Central Bank Digital Currencies (CBDCs). CBDCs promise to realize a broad range of new capabilities, including direct government disbursements to citizens, frictionless consumer payment and money-transfer systems, and a...
Persistent link: https://www.econbiz.de/10012827328
Cover Image
A Simple Model of a Central Bank Digital Currency
Mishra, Bineet; Prasad, Eswar S. - 2023
We develop a general equilibrium model that highlights the trade-offs between physical and digital forms of retail central bank money. The key differences between cash and central bank digital currency (CBDC) include transaction efficiency, possibilities for tax evasion, and, potentially,...
Persistent link: https://www.econbiz.de/10014354569
Cover Image
Differences in Euro-Area Household Finances and Their Relevance for Monetary-Policy Transmission
Hintermaier, Thomas - 2019
This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house prices in the four largest economies in the euro area: France, Germany, Italy, and Spain. We first calibrate a life-cycle incomplete-markets model with a financial asset and...
Persistent link: https://www.econbiz.de/10012859309
Cover Image
Interest Rate Bands of Inaction and Play-Hysteresis in Domestic Investment : Evidence for the Euro Area
Belke, Ansgar Hubertus - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank's effectiveness in a low interest rate environment...
Persistent link: https://www.econbiz.de/10012863789
Cover Image
Wage Inequality and Returns to Education in Turkey : A Quantile Regression Analysis
Tansel, Aysit - 2011
This paper investigates the male wage inequality and its evolution over the 1994-2002 period in Turkey by estimating … Mincerian wage equations using OLS and quantile regression techniques. Male wage inequality is high in Turkey. While it declined …
Persistent link: https://www.econbiz.de/10013131425
Cover Image
Macroeconomic Impact of Remittances on Output Growth : Evidence from Turkey
Tansel, Aysit - 2010
on key macro variables such as consumption, investment, imports and income in Turkey. The estimated impact and dynamic …
Persistent link: https://www.econbiz.de/10013134982
Cover Image
Comparative Essay on Returns to Education in Palestine and Turkey
Tansel, Aysit - 2011
This study exposes a comparative treatment of the private returns to education in Palestine and Turkey over the period … different sectors of employment. The results suggest that returns to schooling are higher for Turkey at the various levels of … than 2004 levels for all levels of education; the pattern is less obvious for Turkey across the various levels. However …
Persistent link: https://www.econbiz.de/10013121333
Cover Image
The Effect of Compulsory Schooling Laws on Teenage Marriage and Births in Turkey
Kïrdar, Murat G. - 2011
This paper estimates the impact of the extension of compulsory schooling in Turkey from 5 to 8 years on the marriage … and fertility behavior of teenage women in Turkey using the 2008 Turkish Demographic and Health Survey. We find that the …
Persistent link: https://www.econbiz.de/10013121743