Showing 1 - 10 of 203
This paper examines the causal links between productivity growth and two price series given by domestic inflation and … shows that domestic inflation has a small but adverse effect on mining productivity growth, thus providing some empirical … support for Australia's 'inflation first' monetary policy, at least with respect to the mining sector. Inflation in mineral …
Persistent link: https://www.econbiz.de/10009448290
-separability of the utility function, inflation aversion, nominal transaction frictions). The monograph is organized as follows … market share competition with the assumption that agent?s behavior is characterized by inflation aversion. Chapter IV is … devoted to the GMM estimation of crucial parameters of the inflation-aversion model of the previous chapter. A model featuring …
Persistent link: https://www.econbiz.de/10009482289
equilibrium to achieve a simple, linear model, that only depends on inflation, the output gap, and the interest rate, in the case … inflation dynamics is crucial. Because of the controversial debate on the importance of expectations, the consequences of … central banks should react stronger to changes in inflation and output under uncertainty. Furthermore, it is shown that …
Persistent link: https://www.econbiz.de/10009449715
Drives Inflation. Chapter IV introduces a second model of a corrupt central banker, one who sells inside information … general seems to increase the inflation rate. My model of the corrupt central banker provides a new explanation of this effect …, that is, that corruption leads to a higher rate of inflation and/or higher seigniorage, will be tested for a cross …
Persistent link: https://www.econbiz.de/10009484798
This paper reinvestigates the energy consumption-GDP growth nexus in a panel error correction model using data on 20 net energy importers and exporters from 1971 to 2002. Among the energy exporters, there was bidirectional causality between economic growth and energy consumption in the developed...
Persistent link: https://www.econbiz.de/10009448305
Past empirical research on monetary policy in open economies has found evidence of the ‘delayed overshooting puzzle’ and the ‘forward discount puzzle’. We revisit the effects of monetary policy on exchange rates by applying Uhlig's [Uhlig, H., 2005a. What are the effects of monetary policy...
Persistent link: https://www.econbiz.de/10009471690
their recent macroeconomic behaviour; (ii) study the impact of certain decisions of policymakers on GDP, inflation and other …
Persistent link: https://www.econbiz.de/10012523770
forecasts of output and inflation. The suite consists of a benchmark model, that includes output, prices and interest rate … economy. Moreover, the proposed SBVAR models are used to provide forecasts of output and inflation conditional on diferent …
Persistent link: https://www.econbiz.de/10012529598
En este documento se estima el impacto de cambios exógenos en el gasto público sobre la actividad económica durante períodos de alta y baja incertidumbre, y durante períodos de expansiones y recesiones. Se encuentra que el efecto del gasto público sobre el PIB es de mayor magnitud durante...
Persistent link: https://www.econbiz.de/10012530570
El tamaño de los efectos desbordamiento (spillovers) de la política fiscal en el área del euro se ha convertido en un tema de particular relevancia en la actualidad, habida cuenta de las propuestas sobre la coordinación de políticas fiscales que persiguen encontrar un tono agregado de...
Persistent link: https://www.econbiz.de/10012532167