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of past experience and international best practices. It confirms that food inflation has been the driver of domestic … inflation. The paper studies the recommendations of the Urjit Patel Committee and comments that monetary policies predominantly … focussed on inflation targeting may not necessarily be effective in India where inflation and inflationary expectations …
Persistent link: https://www.econbiz.de/10010404663
prices and quantities that national statistical institutes can use to produce more accurate, timely, measures of inflation … multilateral index number methods for computing month-to-month inflation. …
Persistent link: https://www.econbiz.de/10014419259
We review macroeconomic performance over the period since the Global Financial Crisis and the challenges in the pursuit of the Federal Reserve's dual mandate. We characterize the use of forward guidance and balance sheet policies after the federal funds rate reached the effective lower bound. We...
Persistent link: https://www.econbiz.de/10012308081
responds to inflation and output volatility, especially during economic crises. This framework offers a promising alternative …
Persistent link: https://www.econbiz.de/10014538995
Central banks have usually employed short-term rates as the main instrument of monetary policy. In the last decades, however, forward guidance has also become a central tool for monetary policy. In an innovative way this paper combines two sources of extraneous information - high frequency...
Persistent link: https://www.econbiz.de/10012295693
crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as …
Persistent link: https://www.econbiz.de/10011285649
inflation expectations in real time. In a large-scale, multi-wave randomized controlled trial (RCT), we find weak evidence that … communicating these policy changes lowers consumers medium-term inflation expectations on average. However, information differs … inflationary environment, these consumers expect that raising interest rates will lower inflation. More generally, our results …
Persistent link: https://www.econbiz.de/10015078324
The establishment of the inflation targeting regime in Paraguay is relatively recent, however, the results have been … only reduce inflation levels, but also align inflation expectations along the medium-term inflation target. Previously the … inflation targeting regime has provided relevant information to economic agents on the monetary policy objectives, which has …
Persistent link: https://www.econbiz.de/10011883801
The objective of this paper to investigate the effectiveness of credit easing policy in mitigating the economic fallout from a financial recession using a model that can account for the observed default and leverage dynamics during the financial crisis of 2007. A general equilibrium model is...
Persistent link: https://www.econbiz.de/10012243296
, effective revenue ceilings induce an increase in deficit, debt and inflation. Under many scenarios, including recurrent adverse …
Persistent link: https://www.econbiz.de/10012137093