Showing 1 - 10 of 154
The Czech Economic Association, in co-operation with the Czech National Bank, organised a public seminar on ?The State of the Phillips Curve,? which featured a lecture by Professor Laurence Ball, in Prague in April 2001. Professor Ball, a professor of economics at John Hopkins University, began...
Persistent link: https://www.econbiz.de/10008495640
of money was nominalist and similarly to J. M. Keynes and G. Cassel he elaborated the concept of managed fiat money. He … critisized and disapproved the quantity theory of money. In his monetary theory and his monetary policy conclusions he was a … forerunner of contemporary post-keynesian monetary theories. Money supply is in his monetary theory highely endogenous and he …
Persistent link: https://www.econbiz.de/10005036614
Persistent link: https://www.econbiz.de/10001604817
This paper begins with a description of simple select models of inflation and their ability to fit the data. The paper … the instability of the money demand model compared with other models, despite its ability to fit the data nearly as well … assign the best-forecast performance to the modified version of the P-star model of inflation for a small, open economy. …
Persistent link: https://www.econbiz.de/10008540713
deflation are defined in this article as changes in the purchasing power of money caused by the money creation. Inflation and …There are three possible price movements in a market economy: stability, inflation, and deflation. Inflation and … deflation are potentially graver. In the contemporary two-tier banking system the money issue and circulation cannot be fully …
Persistent link: https://www.econbiz.de/10008549675
This article attempts to answer a few open questions related to price convergence in the Czech Republic and in other Central and Eastern European Countries toward prices in the European Union. The authors address the following issues: First, what, from the theoretical viewpoint, should the...
Persistent link: https://www.econbiz.de/10008549821
currency and the development of domestic inflation). It is obvious that exchange rate policy is not a passive factor, at least … that the inflation rate is growing in accordance with the growth of depreciation of the foreign exchange rate and the …
Persistent link: https://www.econbiz.de/10005103170
and the common trends. The model of demand for money in Czech Republic created by real M2, real GDP and 1R PRIBOR time … gap transformations of real M2 and real GDP series can be used for identification of inflation risks. The relatively high … correlation was found between gap form of M2 and rate of inflation. The relationship between gap form of GDP and rate of inflation …
Persistent link: https://www.econbiz.de/10005036580
and PPI. A supply shock shows itself in instant PPI adjustment, a demand shock in CPI. Thus, in the CPI inflation equation … shocks to the PPI inflation, production and employment equations. In the second part we implement the model on monthly data …
Persistent link: https://www.econbiz.de/10005036648
aggregates (broad and narrow money), foreign exchange reserves, inflation and interest rates. We found that after relatively …The article provides a general description of the world money development in both developed and developing countries … of neutrality and superneutrality of money in the light of GDP dynamics during monitored period and practical aspects of …
Persistent link: https://www.econbiz.de/10005036615