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Monetary Policy Shocks in a Small Open Economy: Assessing the 'Puzzles' of Monetary Policy by SVAR
Ajluni, Jarir - Volkswirtschaftliche Fakultät, … - 2005
The paper examines the effects of monetary policy shocks and its puzzles on a small open economy using quarterly Korean data by applying a theoretically motivated Structural VAR, with the objective of introducing empirical evidence that investigates the magnitude and persistence of monetary...
Persistent link: https://www.econbiz.de/10008595612
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The effects of capital market openness on exchange rate pass-through and welfare in an inflation targeting small open economy
Mukherjee, Sanchita - Volkswirtschaftliche Fakultät, … - 2011
This paper analyzes the impact of capital market openness on exchange rate pass-through and subsequently on the social loss in an inflation targeting small open economy under a pure commitment policy. Applying the intuition behind the macroeconomic trilemma, I examine whether a more open capital...
Persistent link: https://www.econbiz.de/10009004851
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Monetary Policy and Inequality in Mexico
Villarreal, Francisco G. - Volkswirtschaftliche Fakultät, … - 2014
Despite growing interest regarding the distributive impact of macroeconomic policies, the relationship between monetary policy and inequality has received relatively little attention in the literature. This is partly explained by the fact that the workhorse model used for monetary policy...
Persistent link: https://www.econbiz.de/10011110524
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Does the ECB Care about Shifts in Investors’ Risk Appetite?
Papadamou, Stephanos; Siriopoulos, Costas - Volkswirtschaftliche Fakultät, … - 2008
A key problem facing monetary policy makers is determining whether serious financial instability is present. Periods of financial instability are linked with low investors’ risk appetite (or in other words high risk aversion). Two different measures of investors’ risk aversion are used: (a)...
Persistent link: https://www.econbiz.de/10008680305
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A win-win monetary policy in Canada
Kitov, Oleg; Kitov, Ivan - Volkswirtschaftliche Fakultät, … - 2011
unemployment to the change in the level of labour force in Canada. Inherently, our model belongs to the class of Phillips curve … uncorrelated noise and systematic errors. Our previous model of inflation and unemployment in Canada is enhanced by the … price inflation accompanied by a substantial fall in the rate of unemployment. Therefore, the new monetary policy in Canada …
Persistent link: https://www.econbiz.de/10008927057
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A Model of Monetary Equilibrium with Random Output and Restricted Borrowing
Mierzejewski, Fernando - 2010
An alternative theoretical setting is presented to characterise the money demand and the monetary equilibrium. Two main hypotheses are stated that contradict the assumptions normally sustained by scholars and policy-makers: National output is assumed to be a random variable, and people are...
Persistent link: https://www.econbiz.de/10013148534
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Structural changes in the Maltese cconomy
Grech, Aaron George - Volkswirtschaftliche Fakultät, … - 2015
Since the global recession that took hold around the first decade of this century, Malta registered a more favourable economic performance than most of the other euro area states. It is difficult to reconcile Malta’s relatively high rate of economic growth with the openness of a small economy...
Persistent link: https://www.econbiz.de/10011258649
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Modelo de Ciclos Reales para Colombia
Sarmiento, Prada; David, Juan - Volkswirtschaftliche Fakultät, … - 2005
Colombian economy has the typical small-open economy cycle: smooth consumption, higher volatility in investment ; procyclical consumption, investment and imports; countercyclical trade balance. The objective of this paper is to identify the stylized facts and to replicate them quantitative and...
Persistent link: https://www.econbiz.de/10005079306
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On inflation, wealth inequality and welfare in emerging economies
Sunel, Enes - Volkswirtschaftliche Fakultät, … - 2010
Evidence shows that globally observed disinflation in the last two decades has been more predominant in emerging economies. This paper undertakes a quantitative investigation of the distributional and welfare consequences of a sharp reduction in inflation in a monetary model of a small open...
Persistent link: https://www.econbiz.de/10008695059
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Equity Premiums In a Small Open Economy
Douch, Mohamed - Volkswirtschaftliche Fakultät, … - 2004
This paper studies the behaviour of asset prices in relation to consumption and other business cycle variables. While RBC models have been able to successfully explain the dynamics of macroeconomic variables, they fail to replicate similar interesting stylized facts when studying the behavior of...
Persistent link: https://www.econbiz.de/10005835997