Showing 1 - 10 of 613
In this paper, we analyze the twin deficits hypothesis covering the period from 1994 to 2012 in Turkey. In contrast to previous studies on Turkey, the existence of twin deficits is investigated by regime-dependent impulse response functions and forecast error variance decompositions based on a...
Persistent link: https://www.econbiz.de/10011263214
Harry Johnson’s 1971 ideas about the factors affecting the success of the Keynesian Revolution and the Monetarist Counter-revolution are summarised and extended to the analysis of the Rational Expectations - New Classical (RE-NC) Revolution. It is then argued that, whereas Monetarism brought...
Persistent link: https://www.econbiz.de/10010835365
This paper tries to explore the relationship between, gross domestic product, inflation and real interest rate with the … variables i.e. inflation, interest rate and Gross Domestic Product were used in order to investigate their relationship which … found that that the GDP has significant relationship with the exchange rate where interest and inflation has non …
Persistent link: https://www.econbiz.de/10010850177
in ERPT to CPI inflation for the Finnish economy. Within a logistic smooth transition framework, our investigations …
Persistent link: https://www.econbiz.de/10010936534
This paper reviews theory and evidence of the welfare effects of inflation from a costbenefit perspective. Basic models … and selected empirical results are discussed. Historically, in assessing the welfare effects of inflation, the distortion … of money demand played a prominent role. More recently, interactions of inflation and taxation came into focus. Growth …
Persistent link: https://www.econbiz.de/10005083118
nominal interest rate is equalized with the US federal fund rate, but the inflation rates are independent. High oil prices and … the depreciating US dollar caused inflation to rise and real interest rates to be persistently negative in the UAE and …
Persistent link: https://www.econbiz.de/10008529275
situation poses to price stability. We propose to regard the central banker as a risk manager who aims to contain inflation …
Persistent link: https://www.econbiz.de/10005123620
Economists have traditionally viewed futures prices as fully informative about future economic activity and asset prices. We argue that open interest could be more informative than futures prices in the presence of hedging demand and limited risk absorption capacity in futures markets. We find...
Persistent link: https://www.econbiz.de/10010617611
nominal interest rate is equalized with the US federal fund rate, but the inflation rates are independent. High oil prices and … the depreciating US dollar caused inflation to rise and real interest rates to be persistently negative in the UAE and …
Persistent link: https://www.econbiz.de/10008581937
We investigate the sources of macroeconomic (output and inflation) variability in selected European countries within … currently members of the European Monetary Union and non-members. As for inflation, on the contrary, regional factors are more …
Persistent link: https://www.econbiz.de/10011185978