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[...]The task facing the Eurosystem is even morecomplex than that facing countries with stable monetaryregimes, where the measurement of the national andregional impact of policy has already proved to be extremelydifficult. The creation of the Eurosystem constitutes aregime shift in virtually...
Persistent link: https://www.econbiz.de/10005870058
Australien dar. Außerdem wird eine erste Analyse der Erfahrungen vor dem theoretischenHintergrund der Neuen Institutionenökonomik …
Persistent link: https://www.econbiz.de/10005843660
, we account for changes to Australia’s pigmeat quarantinepolicy over time including those changes related to the recent … resolution of a WTO disputebetween Australia and the European Union. Using a random utility model, and applying it tocorner … regimes implemented by Australia during the period 1988-2009. The welfare impact on consumers, producers, and foreign …
Persistent link: https://www.econbiz.de/10009360665
-round integration of two economies. Empirically, such a constellation is found between Australia and New Zealand, whereas diverging … trends in money and interest rates characterise the relation of Australia towards the US. …
Persistent link: https://www.econbiz.de/10005861005
explicitly on Euro-zone inflation forecastswill diminish problems associated with the large number of country … target inflation - essentially theCzech Republic, Hungary, and Poland - should maintain this monetary policy strategy …
Persistent link: https://www.econbiz.de/10005858144
inflation targeting than under output targeting, and that inflation risk premia are higher for policies that strike a balance … between output and inflation stability (and achieve a social optimum) than for policies that target only one of them. …
Persistent link: https://www.econbiz.de/10005858346
output and for both domestic GDP and CPI inflation rates can replicate thecooperative allocation.[...] …
Persistent link: https://www.econbiz.de/10005871073
. Optimized policy has a strong anti-inflation stance andimplies persistent fluctuations of the tax rate and of public debt. Very … simple optimizedpolicy rules, under which the interest rate just responds to inflation and the tax rate justresponds to …
Persistent link: https://www.econbiz.de/10009138469
In a simple New Keynesian model, we derive a closed form solution for the inflationpersistence parameter as a function of the policy weights in the central bank’s Taylorrule. By estimating the time-varying weights that the FED attaches to inflationand the output gap, we show that the...
Persistent link: https://www.econbiz.de/10009248993
The remarkable stability of low domestic inflation in many countries requires explanation. In this paper, a number of … continuing low inflation, but also its coexistence with rapid growth and low real interest rates. Unfortunately, the analysis …
Persistent link: https://www.econbiz.de/10009305090