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A Dual Mandate for the Federal Reserve: The Pursuit of Price Stability and Full Employment
Thorbecke, Willem - In: Eastern Economic Journal 28 (2002) 2, pp. 255-268
price stability the overriding goal of monetary policy. This paper argues against such a change for several reasons. First …
Persistent link: https://www.econbiz.de/10005641686
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Understanding inflation in emerging and developing economies
Ha, Jongrim; Kose, M. Ayhan; Ohnsorge, Franziska - 2019
monetary policy frameworks, including central bank transparency and independence. Such policy frameworks need to be …
Persistent link: https://www.econbiz.de/10012060219
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Multi-product pricing: Theory and evidence from large retailers
Bonomo, Marco Antonio; Viana de Carvalho, Carlos; … - 2021
We study a unique dataset with comprehensive coverage of daily prices in large multi-product retailers in Israel …
Persistent link: https://www.econbiz.de/10012817077
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The NAICU and the Phillips curve: An approach based on micro data
Köberl, Eva; Lein, Sarah M. - 2008
In this paper we propose a straightforward method to derive a non-accelerating inflation capacity utilisation rate (NAICU) based on micro data. We condition the current capacity utilisation of firms on their current and planned price adjustments. The non-accelerating inflation capacity...
Persistent link: https://www.econbiz.de/10010285794
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Understanding inflation in emerging and developing economies
Ha, Jongrim; Kose, M. Ayhan; Ohnsorge, Franziska - 2019
monetary policy frameworks, including central bank transparency and independence. Such policy frameworks need to be …
Persistent link: https://www.econbiz.de/10011980872
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Multi-product pricing: theory and evidence from large retailers
Bonomo, Marco Antonio; Carvalho, Carlos Viana de; … - 2021
We study a unique dataset with comprehensive coverage of daily prices in large multi-product retailers in Israel …
Persistent link: https://www.econbiz.de/10012597644
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Monetary Policy and Multiple Equilibria
Benhabib, J.; Schmitt-Grohe, S.; Uribe, M. - C.V. Starr Center for Applied Economics, Department of … - 1998
In this paper, we characterize conditions under which interest rate feedback rules wherby the nominal interest rate is set as an increasing function of the inflation rate generate multiple equilibria. We show that these conditions depend not only on the fiscal regime (as emphasized in the fiscal...
Persistent link: https://www.econbiz.de/10005168647
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The Distribution Analysis of the Inflation Components of Turkey
Catik, A. Nazif; Önder, A. Özlem - İktisat Bölümü, İktisadi ve İdari Bilimler Fakültesi - 2009
This paper investigates distribution of inflation items using various measures of skewness and kurtosis for Turkey covering the period 1996-2007. Considering sensitivity of traditional distribution measures to outlying observations robust skewness and kurtosis are also computed as a novelty....
Persistent link: https://www.econbiz.de/10008566383
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Opting out of the Great Inflation: German monetary policy after the break down of Bretton Woods
Beyer, Andreas; Gaspar, Vítor; Gerberding, Christina; … - 2009
Bundesbank monetary policy strategy contributed to this success. We analyze the strategy as it was conceived, communicated and … policy over the period 1975-1998. We compare the Bundesbank's monetary policy rule with those of the FED and of the Bank of … England. We find that the Bundesbank's policy reaction function was characterized by strong persistence of policy rates as …
Persistent link: https://www.econbiz.de/10011605066
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How Does Global Disinflation Drag Inflation in Small Open Economies?
Winkelried, Diego; Vega, Marco - Econometric Society - 2004
importance of domestic and foreign factors in the determination of prices. In this sense, we study why the recently observed … global disinflation environment may imply a weakening of the standard interest rate channel of monetary policy to affect … domestic goods sensitive to foreign prices. With this approach we are able to replicate the dragging effect of global …
Persistent link: https://www.econbiz.de/10005328858