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This paper investigates the effects of global oil and food price shocks to consumer prices in Middle East-North African (MENA) countries using threshold cointegration methods. Oil and food price shocks increase domestic prices in the long run, whereby the impact of food prices dominates. While...
Persistent link: https://www.econbiz.de/10010195480
This paper investigates the effects of global oil and food price shocks to consumer prices in Middle East-North African (MENA) countries using threshold cointegration methods. Oil and food price shocks increase domestic prices in the long run, whereby the impact of food prices dominates. While...
Persistent link: https://www.econbiz.de/10010255110
durch die Geldpolitik, zu einer Umkehr dieser Effekte beitrug. Der Hysterese-Ansatz nach Blanchard und Summers sollte jedoch … nicht wörtlich genommen und eins zu eins in Empfehlungen für die Geldpolitik aufgehen. Lediglich auf die harte Form der … werden. Sie lassen in der Tat Spielraum für die Geldpolitik, aber auf etwas komplexere Weise. Falls die …
Persistent link: https://www.econbiz.de/10014524305
CVAR fits the data very well. -- Commodity prices ; cointegration ; CVAR analysis ; global liquidity ; inflation …
Persistent link: https://www.econbiz.de/10003824866
CVAR fits the data very well. -- Commodity prices ; cointegration ; CVAR analysis ; global liquidity ; inflation …
Persistent link: https://www.econbiz.de/10003844907
Persistent link: https://www.econbiz.de/10003936012
Persistent link: https://www.econbiz.de/10012496677
Persistent link: https://www.econbiz.de/10010508140
The belief that the ECB follows the US Federal Reserve in setting its policy is so entrenched with market participants and commentators that the search for empirical support would seem to be a trivial task. However, this is not the case. We find that the ECB is indeed often influenced by the...
Persistent link: https://www.econbiz.de/10010261156
This paper analyses the monetary policy interdependence between the European Central Bank (ECB) and the Federal Reserve (Fed) for the period 1999-2006. Two models are specified: a partial Vector Error Correction Model (VECM) and a general VECM. In the partial VECM, we look for a long-run...
Persistent link: https://www.econbiz.de/10010264752