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Monetary Policy and Macroeconomic Stability in Latin America : The Cases of Brazil, Chile, Colombia and Mexico
de Mello, Luiz - 2007
In 1999, new monetary policy regimes were adopted in Brazil, Chile, Colombia and Mexico, combining inflation targeting … responsiveness by the monetary authority to changes in expected inflation in Brazil and Chile, while in Colombia and Mexico monetary … Brazil, Colombia and Mexico, despite higher inflation volatility in Brazil and Colombia. This paper estimates a conventional …
Persistent link: https://www.econbiz.de/10012446870
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Monetary Policy and Inflation Expectations in Latin America : Long-run Effects and Volatility Spillovers
2006
-integration analysis to estimate simultaneously a monetary reaction function and the determinants of expected inflation for Brazil, Chile …, Colombia and Mexico in the post-1999 period. It also tests for the presence of volatility spillovers between the monetary …, Colombia and Mexico, suggesting that interest-rate smoothing contributes to reducing inflation expectations volatility. No …
Persistent link: https://www.econbiz.de/10012446842
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Non-linear Modelling of the Australian Business Cycle using a Leading Indicator
Shami, Roland G.; Forbes, Catherine S. - Department of Econometrics and Business Statistics, … - 2002
This paper develops a new non-linear model to analyse the business cycle by exploiting the relationship between the asymmetrical behaviour of the cycle and leading indicators. The model proposed is an innovations form of the structural model underlying simple exponential smoothing that is...
Persistent link: https://www.econbiz.de/10005149035
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Real convergence, price level convergence and inflation differentials in Europe
Égert, Balázs - 2007
This paper provides a comprehensive review of the factors that can cause price levels to diverge and which are at the root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors influencing market and non-market-based service, house...
Persistent link: https://www.econbiz.de/10010264234
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The VARying effect of foreign shocks in Central and Eastern Europe
Jiménez-Rodriguez, Rebeca; Morales-Zumaquero, Amalia; … - 2010
This paper investigates the impact of international shocks - interest rate, commodity price and industrial production shocks - on key macroeconomic variables in ten Central and Eastern European (CEE) countries by using near-VAR models and monthly data from the early 1990s to 2009. In contrast to...
Persistent link: https://www.econbiz.de/10010273871
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Catching-up and inflation in Europe: Balassa-Samuelson, Engel's law and other Culprits
Égert, Balázs - 2010
This study analyses the impact of economic catching-up on annual inflation rates in the European Union with a special focus on the new member countries of Central and Eastern Europe. Using an array of estimation methods, we show that the Balassa-Samuelson effect is not an important driver of...
Persistent link: https://www.econbiz.de/10010273876
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Real Convergence, Price Level Convergence and Inflation Differentials in Europe
Égert, Balázs - 2007
This paper provides a comprehensive review of the factors that can cause price levels to diverge and which are at the root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors influencing market and non-market-based service, house...
Persistent link: https://www.econbiz.de/10013370055
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Real convergence, price level convergence and inflation in Europe
Égert, Balázs - 2007
This paper provides a comprehensive review of the factors that can cause price levels to diverge and which are at the root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors influencing market and nonmarket-based service, house...
Persistent link: https://www.econbiz.de/10010317348
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Dutch desease scare in Kazakhstan: is it real?
Égert, Balázs; Leonard, Carol S. - 2007
In this paper we explore the evidence that would establish that Dutch disease is at work in, or poses a threat to, the Kazakh economy.Assessing the mechanism by which fluctuations in the price of oil can damage non-oil manufacturing-and thus long-term growth prospects in an economy that relies...
Persistent link: https://www.econbiz.de/10012148531
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The VARying effect of foreign shocks in Central and Eastern Europe
Jiménez-Rodríguez, Rebeca; Morales Zumaquero, Amalia; … - 2010
This paper investigates the impact of international shocks - interest rate, commodity price and industrial production shocks - on key macroeconomic variables in ten Central and Eastern European (CEE) countries by using near-VAR models and monthly data from the early 1990s to 2009. In contrast to...
Persistent link: https://www.econbiz.de/10003974654