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The Pros and Cons of Higher Transparency: The Case of Speculative Attacks

Allegret, Jean-Pierre; Cornand, Camille - HAL - 2006

The aim of this paper is to evaluate to what extent more transparency can reduce the occurrence of speculative attacks …. It proposes a survey of the literature about the pros and cons of transparency on the exchange rate market, which is one … of the main pillars of the new international financial architecture. The effects of transparency are shown to be …

Persistent link: https://www.econbiz.de/10008792045

Beyond Earthquakes: The New Directions of Expected Utility Theory

Zurita, Felipe - In: Latin American Journal of Economics-formerly Cuadernos … 42 (2005) 126, pp. 209-255

Over the past two decades, an enormous amount of work has been done to improve the Expected Utility model. Two areas have attracted major attention: the possibility of describing unforeseen contingencies and the need to accomodate the kind of behavior ref

Persistent link: https://www.econbiz.de/10005812177

Information, Knowledge and the Close of Friedrich Hayek's System: A Comment

Boettke, Peter J. - In: Eastern Economic Journal 28 (2002) 3, pp. 343-349

Elias Khalil's "Information, Knowledge and the Close of Friedrich Hayek's System," argues that an internal contradiction exists within Hayek's political economy relating to his use of information and knowledge. As a result, Khalil argues that neither Hayek's critique of planning nor his defense...

Persistent link: https://www.econbiz.de/10005641860

Egy unortodox jegybanki adatrevízió háttere, utóélete és tanulságai

Gábor, Oblath - 2017

In December 2016 the National Bank of Hungary (NBH), by referring to its "backcasts" (based on analyses of past data-revisions), arbitrarily revised upwards the data of the Hungarian Statistical Office (HSO) on GDP-growth for the first three quarters of 2016. This "methodological innovation" (as...

Persistent link: https://www.econbiz.de/10011944914

Az euró hazai bevezetésének újragondolása

Neményi, Judit; Oblath, Gábor - 2012

The study aims to revisit some of the macroeconomic issues related to Hungary's eurozone-accession. The government postponed euro-adoption until 2020 without any explanation, which is one of the motivations of our analysis. We review the arguments formulated in 2000-2004 regarding the adoption...

Persistent link: https://www.econbiz.de/10010494500

Az euró hazai bevezetésének újragondolása

Neményi, Judit; Obláth, Gábor - 2012

Persistent link: https://www.econbiz.de/10009521086

Pénz és kamat. A monetáris politika megújítása. (Money and Interest Rate. A New Approach to Monetary Policy)

Abel, Istvan - 2020

Hungarian Abstract: A hagyományos közgazdaságtan a reálelemzés keretében érvel, és ez akadálya a valós gazdasági folyamatok megértésének. Schumpeter és Keynes kritizálta ezt a megközelítést és helyette a monetáris elemzést alkalmazta. Ezt az elméleti alapvetést követem,...

Persistent link: https://www.econbiz.de/10012849610

Egy unortodox jegybanki adatrevízió háttere, utóélete és tanulságai

Gábor, Oblath - 2017

Persistent link: https://www.econbiz.de/10011686510

Should central banks be more aggressive?

Söderström, Ulf - Economics Institute for Research (SIR), … - 1999

Simple models of monetary policy often imply optimal policy behavior that is considerably more aggressive than what is commonly observed. This paper argues that such counterfactual implications are due to model restrictions and a failure to account for multiplicative parameter uncertainty,...

Persistent link: https://www.econbiz.de/10005207188

Insurance Policies for Monetary Policy in the Euro Area

Wieland, Volker; Kuester, Keith - Society for Computational Economics - SCE - 2005

In this paper, we examine the cost of insurance against model uncertainty for the Euro area considering four alternative reference models, all of which are used for policy-analysis at the ECB. We find that maximal insurance across this model range in terms of a Minimax policy comes at moderate...

Persistent link: https://www.econbiz.de/10005345043