Showing 1 - 10 of 6,586
Inflation has risen sharply in many countries since the COVID-19 outbreak. Economists have debated the underlying … causes. In this paper, we examine the drivers of the global import price inflation, which peaked at approximately 11 percent …
Persistent link: https://www.econbiz.de/10014486225
Expansionary fiscal policies have increased significantly following the subprime crisis in 2007 and the COVID-19 crisis, leading to fiscal dominance concerns, where a growing share of monetary authorities may be forced to deviate from policy targets to accommodate fiscal policies. Meanwhile,...
Persistent link: https://www.econbiz.de/10015056195
explosion of inflation during his administration (above 1,500% on a six-month annualized measure) was predictable, and that the … that the combination of runaway inflation, shortages, and black markets generated major disaffection among the middle class …
Persistent link: https://www.econbiz.de/10014437020
We study international monetary policy spillovers and spillbacks in a tractable two-country Heterogeneous Agent New Keynesian model. Relative to Representative Agent (RANK) models, our framework introduces a precautionary-savings channel, as households in both countries face uninsurable income...
Persistent link: https://www.econbiz.de/10014512099
Identifying exogenous variation in monetary policy is crucial for investigating central bank policy transmission. Using newly-collected archival real-time data utilized by the Central Bank Council of the German Bundesbank, we identify unexpected changes in German monetary policy from 580 policy...
Persistent link: https://www.econbiz.de/10013388841
inflation to monetary policy …
Persistent link: https://www.econbiz.de/10014576652
draw some implications for timing between monetary expansion and inflation, inter-country comparisons of inflation rates … lead inflation in the sense that money Granger-causes prices without feedback, contradicting an implication of the monetary … of inflation during the fixed exchange rate period, providing no evidence for a generalized "law of one price." (3) Some …
Persistent link: https://www.econbiz.de/10012478586
Using both the onset of the US-China trade war in 2018 and the most recent Russia-Ukraine war and associated trade tensions, we show a counterintuitive pattern in global trade. Namely, while the average firm trading with these nations significantly decreases their trade with these jurisdictions...
Persistent link: https://www.econbiz.de/10014576650
This paper uses U.S. loan-level credit register data and the 2018-2019 Trade War to test for the effects of international trade uncertainty on domestic credit supply. We exploit cross-sectional heterogeneity in banks' ex-ante exposure to trade uncertainty and find that an increase in trade...
Persistent link: https://www.econbiz.de/10014436991
variables influence cross-country resilience regarding exchange rates, interest rates, stock prices, inflation, and growth …-2023. Cross-sectional regressions reveal that limiting inflation, active management of precautionary buffers of international … variables for financial development, central bank independence, and the inflation rate preceding the cycles. These findings may …
Persistent link: https://www.econbiz.de/10015072898