Showing 1 - 10 of 98
-term interest rates. A rolling, reduced form, vector autoregression of interest rates, unemployment and inflation rates is employed … manner to unemployment and inflation innovations. However, when the group of inflation targeting countries are separately …
Persistent link: https://www.econbiz.de/10014209327
We propose a proxy for trend unemployment derived from the cointegration property between unemployment rates and world oil prices. Evidence from a sample of OECD countries is presented to support the hypothesis. We argue that our empirical proxy is superior from an economic perspective to at...
Persistent link: https://www.econbiz.de/10014207788
to real economic developments even as it focuses on an inflation objective. Using monthly data, we show how speeches by … the Bundesbank's President dealing with inflation help explain both interest rate movements as well as the central bank …
Persistent link: https://www.econbiz.de/10014061630
This paper proposes that an important tenet of monetary policy, as practiced by the Bundesbank, is how it communicates with the public. The results have implications for the conduct of monetary policy more generally. Indeed, recent Fed behavior may also be likened to the experience of the...
Persistent link: https://www.econbiz.de/10014143815
Central to the conduct of monetary policy is the preparation and evaluation of inflation forecasts. Inflation forecast … generate forecasts of inflation, among other macroeconomic variables that reflect the expected state of the economy. This paper … estimates inflation forecast disagreement for nine economies, five of which target inflation over the 1999-2009 period. I find …
Persistent link: https://www.econbiz.de/10008725884
Central to the conduct of monetary policy are inflation forecasts. Inflation forecasts are not unique. Central banks … and professional organizations generate inflation forecasts while households are surveyed about their inflation outlook …. This paper estimates inflation forecast disagreement for nine economies over the 1999–2009 period, five of which target …
Persistent link: https://www.econbiz.de/10010664765
inflation rates. With a few exceptions, this accomplishment was a global one. Motivated by concerns over whether the relentless … easing of policy in economies most stricken by the US and euro zone financial crises may lead to higher future inflation …, this paper examines inflation forecast performance along several dimensions. The focus is on 12 economies in Asia and the …
Persistent link: https://www.econbiz.de/10013049954
Empirical evidence concerning the link between monetary aggregates and inflation or GDP growth has been underemphasized … determinants of inflation and GDP growth. In addition, the best composite aggregates produce switch dates that overlap with known …
Persistent link: https://www.econbiz.de/10014155493
Central to the conduct of monetary policy are inflation forecasts. Inflation forecast are not unique. Central banks and … professional organizations generate inflation forecasts while households are surveyed about their inflation outlook. This paper … estimates inflation forecast disagreement for nine economies over the 1999-2009 period, five of which target inflation. I find …
Persistent link: https://www.econbiz.de/10013078971
Central to the conduct of monetary policy are inflation forecasts. Inflation forecast are not unique. Central banks and … professional organizations generate inflation forecasts while households are surveyed about their inflation outlook. This paper … estimates inflation forecast disagreement for nine economies over the 1999-2009 period, five of which target inflation. I find …
Persistent link: https://www.econbiz.de/10013097549