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Inflation dynamics and the cost channel of monetary transmission
Chowdhury, Ibrahim; Hoffmann, Mathias; Schabert, Andreas - 2004 - Revised version: September 4, 2004
examine the relevance of the cost channel for inflation dynamics in G7 countries. Since firms' costs of working capital … inflation responses to monetary policy shocks, and can even lead to inverse inflation responses, when the cost channel is …
Persistent link: https://www.econbiz.de/10009524830
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Inflation Dynamics and the Cost Channel of Monetary Transmission
Chowdhury, Ibrahim; Hoffmann, Mathias; Schabert, Andreas - 2004
examine the relevance of the cost channel for inflation dynamics in G7 countries. Since firms’ costs of working capital … inflation responses to monetary policy shocks, and can even lead to inverse inflation responses, when the cost channel is …
Persistent link: https://www.econbiz.de/10005854268
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The timing and magnitude of exchange rate overshooting
Hoffmann, Mathias; Søndergaard, Jens; Westelius, Niklas J. - 2007
Empirical evidence suggests that a monetary shock induces the exchange rate to overshoot its long-run level. The estimated magnitude and timing of the overshooting, however, varies across studies. This paper generates delayed overshooting in a new Keynesian model of a small open economy by...
Persistent link: https://www.econbiz.de/10010295865
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The Timing and Magnitude of Exchange Rate Overshooting
Hoffmann, Mathias - 2016
Empirical evidence suggests that a monetary shock induces the exchange rate to overshoot its long-run level. The estimated magnitude and timing of the overshooting, however, varies across studies. This paper generates delayed overshooting in a new Keynesian model of a small open economy by...
Persistent link: https://www.econbiz.de/10012991128
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The timing and magnitude of exchange rate overshooting
Hoffmann, Mathias; Søndergaard, Jens; Westelius, Niklas J. - Deutsche Bundesbank - 2007
Empirical evidence suggests that a monetary shock induces the exchange rate to overshoot its long-run level. The estimated magnitude and timing of the overshooting, however, varies across studies. This paper generates delayed overshooting in a new Keynesian model of a small open economy by...
Persistent link: https://www.econbiz.de/10005083321
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The Timing and Magnitude of Exchange Rate Overshooting
Westelius, Niklas J.; Hoffmann, Mathias; Sondergaard, Jens - Department of Economics, Hunter College - 2007
Empirical evidence suggests that a monetary shock induces the exchange rate to over-shoot its long-run level. The estimated magnitude and timing of the overshooting, however, varies across studies. This paper generates delayed overshooting in a New Keynesian model of a small open economy by...
Persistent link: https://www.econbiz.de/10004987359
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The Poole analysis in the new open economy macroeconomic framework
Hoffmann, Mathias; Kempa, Bernd - 2006
This paper evaluates simple, non-optimising monetary policy rules in the tradition of the well-known Poole analysis within a general two-country open-economy model of the New Open Economy Macroeconomic framework. Pure money supply rules are compared with simple interest rate rules for the large...
Persistent link: https://www.econbiz.de/10010308704
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The Poole analysis in the new open economy macroeconomic framework
Hoffmann, Mathias; Kempa, Bernd - 2006
This paper evaluates simple, non-optimising monetary policy rules in the tradition of the well-known Poole analysis within a general two-country open-economy model of the New Open Economy Macroeconomic framework. Pure money supply rules are compared with simple interest rate rules for the large...
Persistent link: https://www.econbiz.de/10009525985
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The Poole analysis in the new open economy macroeconomic framework
Hoffmann, Mathias; Kempa, Bernd - Institut für Finanzmarktforschung, Wirtschafts- und … - 2006
This paper evaluates simple, non-optimising monetary policy rules in the tradition of the well-known Poole analysis within a general two-country open-economy model of the New Open Economy Macroeconomic framework. Pure money supply rules are compared with simple interest rate rules for the large...
Persistent link: https://www.econbiz.de/10010957192
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Would households understand average inflation targeting?
Hoffmann, Mathias; Pavlova, Lora; Mönch, Emanuel; … - 2022
average inflation targeting (AIT). Inflation expectations significantly increase for the treated individuals. When provided … with additional information about near-term inflation, individuals update their expected inflation path in line with the … difference in medium-term inflation expectations from our survey results. Under AIT, inflation is substantially less volatile and …
Persistent link: https://www.econbiz.de/10013253721