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Este documento demuestra que las políticas de un banco central local pueden atenuar los efectos del ciclo financiero global [Global Financial Cycle (GFC)]. Para su identificación, analizamos la variación del GFC y las intervenciones del Banco Central de Brasil en los mercados derivados de...
Persistent link: https://www.econbiz.de/10012523796
In recent years the New Keynesian Model with price stickiness of the Calvo type has become the most widely used theoretical framework for addressing various normative issues such as how optimal monetary and fiscal policy should be conducted. However, the New Keynesian Model has been criticized...
Persistent link: https://www.econbiz.de/10009482289
Diese Arbeit widmet sich der Analyse korrupter Strukturen in Zentralbanken und deren Auswirkungen auf die Geldpolitik …?sentiert. Sie sollen darlegen, dass korruptes Verhalten in einer Zentralbank nicht nur denkbar ist, sondern auch tats … Modell basiert auf der Modellierung zeitinkonsistenten Verhaltens der Zentralbank. Eine nominale Rigidit?t des Geldlohnsatzes …
Persistent link: https://www.econbiz.de/10009484798
El gobernador contribuye con su análisis sobre la imparcialidad y la autonomía de las autoridades económicas independientes a la revisión de «las medidas necesarias de refuerzo de la imparcialidad e independencia de autoridades independientes y organismos de regulación» que realiza esta...
Persistent link: https://www.econbiz.de/10012525507
El gobernador contribuye con su análisis sobre la imparcialidad y la autonomía de las autoridades económicas independientes a la revisión de «las medidas necesarias de refuerzo de la imparcialidad e independencia de autoridades independientes y organismos de regulación» que realiza esta...
Persistent link: https://www.econbiz.de/10012525707
einem neukeynesianischem Modell untersucht. Da die Entscheidung einer Zentralbank über die optimale Zinssetzung unter … von gestörten Modellen um das Referenzmodell und wählt die optimale Geldpolitik so, dass diese im ungünstigsten Modellfall … geldpolitisches Instrument beinhaltet. Wesentlich für die Herleitung der optimalen Geldpolitik ist die Persistenz in der Inflations …
Persistent link: https://www.econbiz.de/10009449715
The current discussion of Inflation Targeting (IT) in emerging economies deals with the effects that nominal exchange rate movements have on the overall inflation rate. The literature has focused in the analysis of the advantages and disadvantages that IT has with respect to other monetary...
Persistent link: https://www.econbiz.de/10009465021
This paper presents new non-linear regression estimates of the relationship between inflation and economic growth for 80 countries over the period 1961 – 2000. We perform tests using the full sample of countries as well as sub-samples consisting of OECD countries, middle-income countries, and...
Persistent link: https://www.econbiz.de/10009467896
The replacement of a multi-currency system by a single currency on the basis of the European Economic and Monetary Unit is the stage in the same integration and convergence process; monetary policy that recently was the matter of each state was handed over to the European Central Bank. A...
Persistent link: https://www.econbiz.de/10009478178
A high inflation rate is the main obstacle prohibiting euro lead into the state, that‘s why the inflation theme is the urgent one. We analyzed the inflation not only from the economic perspective, but from the legal side too. The changes of property forms, legal tends, extent of inflation,...
Persistent link: https://www.econbiz.de/10009478992