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Money and Inflation in the Euro Area : A Case for Monetary Indicators?
Gerlach, Stefan; Svensson, Lars E. O. - 2013
This paper studies the relationship between inflation, output, money and interest rates in the euro area, using data … power for future inflation. The real money gap contains more information about future inflation than the output gap and the … Eurosystem's money-growth indicator is an inferior indicator of future inflation …
Persistent link: https://www.econbiz.de/10014061326
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The Implementation of Monetary Policy in China: The Interbank Market and Bank Lending
Chen, Hongyi; Chen, Qianying; Gerlach, Stefan - Hong Kong Institute for Monetary Research (HKIMR), … - 2011
We analyze the impact of monetary policy instruments on interbank lending rates and retail bank lending in China using an extended version of the model of Porter and Xu (2009). Unlike the central banks of advanced economies, the People's Bank of China uses changes in the required reserve ratios...
Persistent link: https://www.econbiz.de/10009279926
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The Quest for Stability: The Macro View
Buiter, Willem H.; Gerlach, Stefan; Kool, Clemens J.M.; … - 2010
On September 3-4, 2009 SUERF and Utrecht University School of Economicsorganized the Colloquium "The Quest for Stability" in Utrecht, the Netherlands. The papers included in this SUERF Study are based on contributions to the Colloquium.
Persistent link: https://www.econbiz.de/10011689943
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The Quest for Stability: the macro view
Buiter, Willem Hendrik; Gerlach, Stefan; Kool, Clemens J.M. - SUERF - The European Money and Finance Forum
On September 3-4, 2009 SUERF and Utrecht University School of Economicsorganized the Colloquium "The Quest for Stability" in Utrecht, the Netherlands. The papers included in this SUERF Study are based on contributions to the Colloquium.
Persistent link: https://www.econbiz.de/10008544608
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Money and Inflation in the Euro-Area: A Case for Monetary Indicators?
Gerlach, Stefan; Svensson, Lars E O - C.E.P.R. Discussion Papers - 2002
This Paper examines inflation indicators for the euro area by studying the relationship between inflation, output … information regarding future inflation. In contrast, the Eurosystem’s money-growth indicator (the difference between nominal money … future inflation, and no information beyond that contained in the output and real money gaps. The predictive performance of …
Persistent link: https://www.econbiz.de/10005123681
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Money and inflation in the Euro Area: A case for monetary indicators?
Svensson, Lars E.O.; Gerlach, Stefan - Bank for International Settlements (BIS) - 2001
This paper studies the relationship between inflation, output, money and interest rates in the euro area, using data … power for future inflation. The real money gap contains more information about future inflation than the output gap and the … Eurosystem's money-growth indicator is an inferior indicator of future inflation. …
Persistent link: https://www.econbiz.de/10005063355
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The Implementation of Monetary Policy in China : The Interbank Market and Bank Lending
Chen, Hongyi - 2011
We analyze the impact of monetary policy instruments on interbank lending rates and retail bank lending in China using an extended version of the model of Porter and Xu (2009). Unlike the Central banks of advanced economies, the People's Bank of China uses changes in the required reserve ratios...
Persistent link: https://www.econbiz.de/10013120897
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Monetary Policy and TIPS Yields before the Crisis
Gerlach, Stefan; Moretti, Laura - C.E.P.R. Discussion Papers - 2011
We make three points. First, the decade before the financial crisis in 2007 was characterized by a collapse in the yield on TIPS. Second, estimated VARs for the federal funds rate and the TIPS yield show that while monetary policy shocks had negligible effects on the TIPS yield, shocks to the...
Persistent link: https://www.econbiz.de/10009293980
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Inflation Targeting in Emerging Market and Transition Economies: Lessons after a Decade
Amato, Jeffery D.; Gerlach, Stefan - Hong Kong Institute for Monetary Research (HKIMR), … - 2001
Starting in the early 1990s, several emerging market and transition economies (EMEs) have adopted inflation targeting … preconditions for IT, (c) the use of intermediate exchange rate targets, and (d) the specification of inflation targets. Our overall …
Persistent link: https://www.econbiz.de/10005357489
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Inflation Targeting in Emerging Market and Transition Economies: Lessons After a Decade
Amato, Jeffery D.; Gerlach, Stefan - C.E.P.R. Discussion Papers - 2001
Starting in the early 1990s, several emerging market and transition economies (EMEs) have adopted inflation targeting … preconditions for IT, (c) the use of intermediate exchange rate targets and (d) the specification of inflation targets. Our overall …
Persistent link: https://www.econbiz.de/10005656461