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KITOV, Oleg; KITOV, Ivan - In: Journal of Applied Economic Sciences 6 (2012) 6(18)/ Summer 2011, pp. 160-176

price inflation accompanied by a substantial fall in the rate of unemployment. Therefore, the new monetary policy in Canada …

Persistent link: https://www.econbiz.de/10010858978

Price level targeting and the delegation issue in an open economy

Froyen, Richard T.; Guender, Alfred V. - In: Economics Letters 122 (2014) 1, pp. 12-15

-rate-adjusted (REX) price level and the output gap can replicate the behavior of the rate of REX inflation and the output gap under …

Persistent link: https://www.econbiz.de/10010729447

Criza, statul şi piaţa

Silviu, Cerna - In: Revista OEconomica (2011) 01

The crisis, in a dazzling way, shows not only that state regulation of financial activities is ineffective, but that political subordination of this activity, rather than an obligation to make a profit, thus creating a higher value than is consumed, leads, in the long term, to an unsustainable...

Persistent link: https://www.econbiz.de/10010965570

The Great Leveraging

Taylor, Alan M. - National Bureau of Economic Research (NBER) - 2012

What can history tell us about the relationship between the banking system, financial crises, the global economy, and economic performance? Evidence shows that in the advanced economies we live in a world that is more financialized than ever before as measured by importance of credit in the...

Persistent link: https://www.econbiz.de/10010969386

Assessing uncertainty in Europe and the US - Is there a common factor?

Sauter, Oliver - Forschungszentrum Innovation und Dienstleistung, … - 2012

This paper aims an empirical investigation of uncertainty in the Euro Zone as well as the US. For this purpose I conduct a factor analysis of uncertainty measures starting in 2001 until the end of 2011. I use survey-based data provided by the ECB and the Federal Reserve Bank of Philadelphia as...

Persistent link: https://www.econbiz.de/10010955031

Bailout uncertainty in a microfounded general equilibrium model of the financial system

Cukierman, Alex; Izhakian, Yehuda - In: Journal of Banking & Finance 52 (2015) C, pp. 160-179

This paper develops a micro-founded general equilibrium model of the financial system composed of ultimate borrowers, ultimate lenders and financial intermediaries. The model is used to investigate the impact of uncertainty about the likelihood of governmental bailouts on leverage, interest...

Persistent link: https://www.econbiz.de/10011209863

Secular Stagnation: Evidence and Implications for Economic Policy

Rawdanowicz, Łukasz; Bouis, Romain; Inaba, Kei-Ichiro; … - Economics Department, Organisation de Coopération et … - 2014

This paper investigates whether OECD countries are facing secular stagnation. Secular stagnation is defined as a situation when policy interest rates bounded at zero fail to stimulate demand sufficiently, due to low or negative neutral real interest rates and low inflation, and when ensuing...

Persistent link: https://www.econbiz.de/10011276801

How Do Firms Form Their Expectations? New Survey Evidence

Coibion, Olivier; Gorodnichenko, Yuriy; Kumar, Saten - National Bureau of Economic Research (NBER) - 2015

We implement a new survey of firms’ macroeconomic beliefs in New Zealand and document a number of novel stylized facts from this survey. Despite nearly twenty-five years under an inflation targeting regime, there is widespread dispersion in firms’ beliefs about both past and future...

Persistent link: https://www.econbiz.de/10011252651

Considerazioni finali del governatore della Banca d’Italia: un commento

Schilirò, Daniele - Volkswirtschaftliche Fakultät, … - 1997

This contribution is an analysis and a comment of the Final Remarks of the Governor of the Bank of Italy and his directions of economic policy for the Italian economy. An economy that has a high unemployment and also supports a public debt that, despite the recent efforts of fiscal...

Persistent link: https://www.econbiz.de/10011261012

The Elusive Welfare Economics of Price Stability as a Monetary Policy Objective: Should New Keynesian Central Bankers Pursue Price Stability?

Buiter, Willem Hendrik - National Bureau of Economic Research (NBER) - 2004

fiscal policy is either unrestricted optimal or restricted but supportive of monetary policy. Full nominal price flexibility …, nominal prices set one period in advance and Calvo-style staggered overlapping price contracts with a variety of indexation … rules for constrained price setters are considered. For all price setting models, optimal monetary policy implements the …

Persistent link: https://www.econbiz.de/10005084781

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