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Nominal and Real Interest Rates during an Optimal Disinflation in New Keynesian Models

Hagedorn, Marcus - Institut für Volkswirtschaftslehre, … - 2007

Central bankers' conventional wisdom suggests that nominal interest rates should be raised to implement a lower inflation target. In contrast, I show that the standard New Keynesian monetary model predicts that nominal interest rates should be decreased to attain this goal. Real interest rates,...

Persistent link: https://www.econbiz.de/10005627779

ВЛИЯНИЕ УЧЕТА ИНФЛЯЦИИ НА ОБОСНОВАНИЕ ЭФФЕКТИВНОСТИ ИНВЕСТИЦИОННЫХ ПРОЕКТОВ В ЭНЕРГЕТИКЕ

Малинина Т.В.; Шульгинов Р.Н. - In: Проблемы современной экономики (2012) 3, pp. 322-324

В статье показано влияние учета инфляции на эффективность проекта сооружения электростанции, имеющей длительный срок эксплуатации. Рассмотрены различные...

Persistent link: https://www.econbiz.de/10011239218

The Fisher Effect in the Spanish Case: A Preliminary Study

Jareño, Francisco; Tolentino, Marta - In: Asian Economic and Financial Review 2 (2012) 7, pp. 841-857

We revise previous literature about Fisher Effect, in order to check if the majority of nominal interest rates movements are caused by inflation rate fluctuations, remaining constant the real interest rate. Finally, we analyse the Fisher Effect in the Spanish case with a preliminary analysis in...

Persistent link: https://www.econbiz.de/10010598043

Purchasing Power Parity in Three Transition Economies

Barlow, David - In: Economic Change and Restructuring 36 (2003) 3, pp. 201-221

Persistent link: https://www.econbiz.de/10005701510

Purchasing Power Parity in Three Transition Economies

Barlow, David - In: Economic Change and Restructuring 36 (2004) 3, pp. 201-221

disinflation strategies of Poland and the Czech Republic in the early part of this period, in contrast to the managed float …

Persistent link: https://www.econbiz.de/10005701517

Imperfect Credibility and Inflation Persistence

Erceg, Christopher J.; Levin, Andrew T. - Society for Computational Economics - SCE - 2001

bank's inflation target based on only observing the policy instrument. In particular, we consider the disinflation …

Persistent link: https://www.econbiz.de/10005706763

Real Wage Rigidities and the Cost of Disinflations

Ascari, Guido; Merkl, Christian - Institute for the Study of Labor (IZA) - 2007

This paper analyzes the cost of disinflations under real wage rigidities in a micro-founded New Keynesian model. The consensus is that real wage rigidities can be a useful mechanism to induce the inflation persistence that is absent in the standard Calvo model. Real wage rigidities thus generate...

Persistent link: https://www.econbiz.de/10005762163

Fulfilment of the Maastricht Inflation Criterion by the Czech Republic: Potential Costs and Policy Options

Barta, Vit - Česká Národní Banka - 2005

fulfilment of the Maastricht inflation criterion (MIC) require disinflation; and secondly, to discuss and suggest policies geared ….5% during the reference period. Three disinflation simulations are derived from this assumption. The results show that a decline …

Persistent link: https://www.econbiz.de/10005765492

Deflazione, disinflazione e modelli a salari sovrapposti

Ascari, Guido - In: Giornale degli Economisti 56 (1997) 3-4, pp. 235-273

the effects on output of changes in monetary policy, in the form of deflation and disinflation. Given the confusing array …

Persistent link: https://www.econbiz.de/10005772674

Disinflation and the NAIRU in a New-Keynesian New-Growth Model

Rannenberg, Ansgar - Volkswirtschaftliche Fakultät, … - 2008

NAIRU and the size of the disinflation during that period across advanced OECD economies. There is also mounting evidence … by central banks at the end of the 1970s. Monetary policy implements a disinflation by following a standard interest … state). Thus the model generates an increase in unemployment following a disinflation without relying on a change to labour …

Persistent link: https://www.econbiz.de/10005790337