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Is Monetary Policy a Growth Stimulant in Nigeria? A Vector Autoregressive Approach

Adesoye, A. Bolaji; Maku, Olukayode E.; Atanda, … - Volkswirtschaftliche Fakultät, … - 2012

This paper critically examines the dynamic interaction between monetary policy tools in stimulating economic growth, as well as stabilizing the economy from external shocks in Nigeria. The paper considered key monetary time series variables and real growth of output in formulating Vector...

Persistent link: https://www.econbiz.de/10009397156

Evaluating inflation forecast models for Poland: Openness matters, money does not (but its cost does)

Mukherjee, Deepraj; Kemme, David - Volkswirtschaftliche Fakultät, … - 2008

Countries in which inflation targeting has been adopted require high quality inflation forecasts. The Polish National Bank adopted a variant of implicit inflation targeting and therefore the ability to forecast inflation is critically important to policy makers. Since the domestic price...

Persistent link: https://www.econbiz.de/10004961523

Liquidity preference as rational behaviour under uncertainty

Mierzejewski, Fernando - Volkswirtschaftliche Fakultät, … - 2006

An important concern of macroeconomic analysis is how interest rates affect the cash balance demanded at a certain level of nominal income. In fact, the interest-rate- elasticity of the liquidity demand determines the effectiveness of monetary policy, which is useless under absolute liquidity...

Persistent link: https://www.econbiz.de/10005835751

Should Canadian Monetary Policy Respond to Asset Prices? Evidence from a Structural Model

Fiodendji, Komlan - Volkswirtschaftliche Fakultät, … - 2011

Although the Bank of Canada admits asset prices are considered in its policy deliberations because of their effects on inflation or output gap, the Bank of Canada denies trying to stabilize asset prices around fundamental values. However, since the start of the Bank of Canada we have seen a boom...

Persistent link: https://www.econbiz.de/10008788789

The asymmetric relationship between oil prices and activity in the EMU: Does the ECB monetary policy play a role?

L'OEILLET, Guillaume; LICHERON, Julien - Volkswirtschaftliche Fakultät, … - 2010

Monetary policy is usually perceived as an important transmission channel in the negative relationship between oil prices and economic performance. It may also constitute a short-term explanation of the non-linearity in this relationship, since Central Bankers may be more sensitive to the...

Persistent link: https://www.econbiz.de/10008685030

Dove or Hawk? characterizing monetary regime switches during financial liberalization in India

Hutchison, Michael; Sengupta, Rajeswari; Singh, Nirvikar - Volkswirtschaftliche Fakultät, … - 2011

The last decade has seen a worldwide move by emerging markets to adopt explicit or implicit inflation targeting regimes. A notable and often discussed exception to this trend, of course, is China which follows pegged exchange rate regime supported by capital controls. Another major exception is...

Persistent link: https://www.econbiz.de/10009004833

Exchange rate regimes and monetary autonomy: Empirical evidence from selected Caribbean countries

Craigwell, Roland; Greenidge, Kevin; Maynard, Tracy - Volkswirtschaftliche Fakultät, … - 2009

This paper uses the error correcting methodology to investigate how pegged and non-pegged exchange rate regimes in a set of Caribbean countries affect the closeness of the relationship between changes in a base country rate and the local rate. This interest rate parity condition is subjected to...

Persistent link: https://www.econbiz.de/10009294941

Country Heterogeneity and Long-Run Determinants of Inflation in the Gulf Arab States

Basher, Syed Abul; Elsamadisy, Elsayed Mousa - Volkswirtschaftliche Fakultät, … - 2010

Applying nonstationary panel data econometric methods, this paper analyzes the major sources and transmission of inflation in the Gulf Cooperation Council (GCC) countries over the 1980-2008 period. We argue that, in GCC countries, money is essentially demand determined, so that the high...

Persistent link: https://www.econbiz.de/10008765622

Financial development, International Trade and welfare

Blanchard, Michel; Peltrault, Frederic - Volkswirtschaftliche Fakultät, … - 2009

Differences between domestic financial systems can lead to international trade. A country with relatively developed or … systems will export traditional commodities. Trade is always welfare improving before the resolution of uncertainty but the … country with the more risk averse financial system and the world as a whole can be worse off with trade after the resolution …

Persistent link: https://www.econbiz.de/10004980410