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The possible short-run trade-off between the inflation (gap) and the output (gap) remains a critical policy issue for … any emerging economy; particularly when an implicit or an explicit inflation targeting monetary policy is considered. The … New Keynesian Phillips Curve (NKPC) has recently set up a framework on the trade-off between the inflation (gap) and the …
Persistent link: https://www.econbiz.de/10010160677
The era of US state branching deregulation started in 1970 and ended up with the enactment of the Riegle Neal Act of 1994. One of the purposes of the branching restriction was to avoid bank concentration. The following paper addresses the influence of the state deregulation on commercial...
Persistent link: https://www.econbiz.de/10009959097
Die japanische Wirtschaft zeigt nach der Natur- und Atomkatastrophe Erholungserscheinungen. Das Bruttoinlandsprodukt ist wieder kräftig gestiegen. Dazu haben nicht zuletzt staatliche Ausgabenprogramme beigetragen, die die binnenwirtschaftliche Nachfrage stützen. Allerdings hat sich dadurch die...
Persistent link: https://www.econbiz.de/10010079438
angemessene einheitliche Geldpolitik betreiben zu können. Es sollte daher nachgedacht werden, die Europäische Währungsunion mit …
Persistent link: https://www.econbiz.de/10010079478
This paper aims to examine the influence of the fiscal and budgetary policy to the labour market and how to determine the movement of filled employment positions from one period to another, the gross job creation, the gross job destruction, the job reallocation and the average job vacancies. The...
Persistent link: https://www.econbiz.de/10010081778
adopt flexible inflation targeting as part of a broad reform package that includes improved financial regulation and fiscal … economies. -- monetary policy ; asset prices ; inflation targeting ; macroeconomic stability …
Persistent link: https://www.econbiz.de/10010148273
This article evaluates the presence of dynamic inconsistency on decisions of discretionary environmental policy, and its incidence on social welfare. It is assumed that an environmental authority minimizes a social welfare loss function controlling freely – on each period – a tax rate by...
Persistent link: https://www.econbiz.de/10010049040
output during 2001.Q4-2009.Q1. Other findings show that a higher real financial stock price, a higher world real interest … rate, or a lower expected inflation rate would increase real output. Fiscal prudence may be needed as the coefficient of …
Persistent link: https://www.econbiz.de/10009958051
This paper examines the long-run and short-run impacts of exchange rate and price changes on trade flows in Nigeria using exports and imports functions. The bounds testing (ARDL) approach to cointegration is applied on a quarterly data from 1980 Q1 to 2007 Q4. The results indicate that in both...
Persistent link: https://www.econbiz.de/10009958054
In this study, a vector autoregression (VAR) model with time-varying parameters (TVP) to predict the daily Indian rupee (INR)/US dollar (USD) exchange rates for the Indian economy is developed. The method is based on characterization of the TVP as an optimal control problem. The methodology is a...
Persistent link: https://www.econbiz.de/10009958060