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Inflation targeting and monetary integration in European emerging market economies

Felix Hammermann - 2008

This study addresses the potential trade-off between inflation and exchange rate targeting in former transition countries, which now may be labeled emerging market economies and which prepare for entry into the Economic and Monetary Union (EMU). Among this group of countries, some implemented...

Persistent link: https://www.econbiz.de/10009429025

A theory of managed floating

Wollmershäuser, Timo - 2003

After the experience with the currency crises of the 1990s, a broad consensus has emerged among economists that such shocks can only be avoided if countries that decided to maintain unrestricted capital mobility adopt either independently floating exchange rates or very hard pegs (currency...

Persistent link: https://www.econbiz.de/10009433725

Communication as a strategic monetary policy tool : an evaluation of the effectiveness of the South African Reserve Bank's communication

Reid, Monique Brigitte - 2011

ENGLISH ABSTRACT: The effectiveness of monetary policy depends importantly on the expectations of the private sector, as it is largely through this channel of the transmission mechanism that policy changes are transmitted to long-term interest rates. This has increased the emphasis on the role...

Persistent link: https://www.econbiz.de/10009477597

Inflation expectations in euro area Phillips curves

Álvarez González, Luis Julián; Correa López, Mónica

Este documento analiza la información contenida en medidas alternativas de expectativas de inflación —incluidas las obtenidas a partir de consumidores, empresas, expertos y mercados financieros—, en el contexto de curvas de Phillips de economía abierta. Adoptando una aproximación...

Persistent link: https://www.econbiz.de/10012523777

Determinants and implications of low global inflation rates

Berganza, Juan Carlos; Río López, Pedro del; … - 2016

En este documento se ofrece una panorámica de la evolución de la inflación a escala global en la última década y se trata de descubrir qué factores podrían explicar los niveles muy bajos de inflación durante la recuperación de la Gran Recesión. Se hace una revisión de la literatura...

Persistent link: https://www.econbiz.de/10012529567

Uncertainty and the price of risk in a nominal convergence process

Gimeno Nogués, Ricardo; Marqués Sevillano, José Manuel - 2008

In this paper we decompose nominal interest rates into real risk-free rates, inflation expectations and risk premia using an affine model that takes as factors the observed inflation rate and the parameters generated in the zero yield curve estimation. We apply this model to the Spanish economy...

Persistent link: https://www.econbiz.de/10012529952

Extraction of financial market expectations about inflation and interest rates from a liquid market

Gimeno Nogués, Ricardo; Marqués Sevillano, José Manuel - 2009

In this paper we propose an affine model that uses as observed factors the Nelson and Siegel (NS) components summarising the term structure of interest rates. By doing so, we are able to reformulate the Diebold and Li (2006) approach to forecast the yield curve in a way that allows us to...

Persistent link: https://www.econbiz.de/10012530249

The evolution of inflation expectations in euro area markets

Gimeno Nogués, Ricardo; Ortega Eslava, Eva - 2016

Este trabajo explora el comportamiento de las expectativas de inflación en países que comparten su política monetaria, en particular los de la UEM. Se investigan las posibles características comunes a varios horizontes, así como los diferenciales entre países. Se propone un modelo...

Persistent link: https://www.econbiz.de/10012530529

Extraction of inflation expectations from financial instruments in Latin America

Fuertes Mendoza, Alberto; Gimeno Nogués, Ricardo; … - 2018

en el largo plazo se encuentran bien ancladas en Chile y México, mientras que en Brasil y Colombia el grado de anclaje es … menor. Además, la inflación esperada se incrementa para plazos más largos en Brasil y Chile, ocurriendo lo contrario en …. We find that inflation expectations in the long-run are fairly anchored in Chile and Mexico, while those in Brazil and …

Persistent link: https://www.econbiz.de/10012532144

Composite indicators of inflationary pressures

Álvarez, Luis J.; Sánchez García, Isabel

Artículo de revista ; This article analyses a broad set of relevant variables for monitoring inflationary pressures in the Spanish economy. On the basis of these variables, composite indicators are calculated that proxy inflation expectations, the degree of slack in the economy and other...

Persistent link: https://www.econbiz.de/10012532340