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FCIs and economic activity : some international evidence
Goodhart, Charles A. E.; Hofmann, Boris - 2003
A Monetary Conditions Index (MCI), a weighted average of the short-term real interest rate and the real exchange rate, is a commonly used indicator of aggregate demand conditions. In-sample evidence for the US, the euro area, Japan and the UK suggests that a Financial Conditions Index (FCI),...
Persistent link: https://www.econbiz.de/10010518118
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Balkan and Mediterranean candidates for European Union membership : the convergence of their monetary policy with that of the European Central Bank
Brada, Josef C.; Kutan, Ali Mustafa - 2001
We compare the convergence with German monetary policy of the Balkan and Mediterranean country candidates for EU … membership with that of countries that have recently joined the EU. Significant linkages exist between German base money stock … and that of recent members of the EU; the same holds true for some of the Mediterranean region candidates for EU …
Persistent link: https://www.econbiz.de/10010518130
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Sources of inflation and output fluctuations in Poland and Hungary : implications for full membership in the European Union
Dibooglu, Sel; Kutan, Ali Mustafa - 2001
admission to the European Union (EU), Poland and Hungary. Using a rational expectations, dynamic open economy aggregate supply … component of inflation has been demand driven, "core" inflation. Finally, policy implications of these findings regarding EU …
Persistent link: https://www.econbiz.de/10010518135
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Monetary policy reaction functions : ECB versus Bundesbank
Hayo, Bernd (contributor); Hofmann, Boris (contributor) - 2003
Persistent link: https://www.econbiz.de/10001972038