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Inflation and Output Comovement in the Euro Area; Love at Second Sight?
Andrle, Michal; Bruha, Jan; Solmaz, Serhat - International Monetary Fund (IMF) - 2013
This paper discusses comovement between inflation and output in the euro area. The strength of the comovement may not be apparent at first sight, but is clear at business cycle frequencies. Our results suggest that at business cycle frequency, the output and core inflation comovement is high and...
Persistent link: https://www.econbiz.de/10011242325
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Exchange rate risk and convergence to the Euro
Orlowski, Lucjan T. - Zentrum für Europäische Integrationsforschung (ZEI), … - 2004
This paper proposes a new monetary policy framework for effectively navigating the path to adopting the euro. The proposed policy is based on relative inflation forecast targeting and incorporates an ancillary target of declining exchange rate risk, which is suggested as a key criterion for...
Persistent link: https://www.econbiz.de/10008611444
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New Paradigms in Monetary Theory and Policy?
Haldane, Andrew G.; Coulibaly, Dramane; Kempf, Hubert; … - SUERF - The European Money and Finance Forum
On 11-12 May 2011, SUERF and the Belgian Financial Forum, in association with the Brussels Finance Institute and the Centre for European Policy Studies (CEPS) organized the 29th SUERF Colloquium “New Paradigms in Money and Finance?” All the papers in the present SUERF Study are based on...
Persistent link: https://www.econbiz.de/10009651458
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Are Non-Euro Area EU Countries Importing Low Inflation from the Euro Area?
Iossifov, Plamen; Podpiera, Jiri - International Monetary Fund (IMF) - 2014
The synchronized disinflation across Europe since end-2011 raises the question of whether non-euro area EU countries are affected by the undershooting of the euro area inflation target. To shed light on this issue, we estimate an open-economy, New Keynsian Phillips curve, in which we control for...
Persistent link: https://www.econbiz.de/10010959481
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Iceland: Challenging Times for Monetary and Fiscal Policies
Michelis, Andrea de - Economics Department, Organisation de Coopération et … - 2009
Monetary and fiscal policies face huge challenges: the banking sector has collapsed; the economy is in the midst of a deep recession; the exchange rate has plunged; capital flows have been frozen; inflation is elevated; public debt has risen; source of revenues have disappeared; social needs have...
Persistent link: https://www.econbiz.de/10008498025
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Exchange Rate Risk and Convergence to the Euro
Orlowski, Lucjan T - EconWPA - 2005
This paper proposes a new monetary policy framework for effectively navigating the path to adopting the euro. The proposed policy is based on relative inflation forecast targeting and incorporates an ancillary target of declining exchange rate risk, which is suggested as a key criterion for...
Persistent link: https://www.econbiz.de/10005412757
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Money rules for the eurozone candidate countries
Orlowski, Lucjan T. - Zentrum für Europäische Integrationsforschung (ZEI), … - 2004
converging to a common currency system, in particular, by the eurozone candidate countries. The analytical framework assumes an …, in this case, is the eurozone’s inflation forecast. The study advances a forwardlooking money growth model that might be … applied to aid monetary convergence to the eurozone. However, feasibility of adopting money growth rules depends on stable …
Persistent link: https://www.econbiz.de/10008614812
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Money Rules For The Eurozone Candidate Countries
Orlowski, Lucjan T - EconWPA - 2005
converging to a common currency system, in particular, by the eurozone candidate countries. The analytical framework assumes an …, in this case, is the eurozone’s inflation forecast. The study advances a forward-looking money growth model that might be … applied to aid monetary convergence to the eurozone. However, feasibility of adopting money growth rules depends on stable …
Persistent link: https://www.econbiz.de/10005076831
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Return and volatility spillovers: evidence from Indian exchange rates
Kumar, Manish - In: International Journal of Economics and Business Research 3 (2011) 4, pp. 371-387
This study examines the nature of interdependence, and return and volatility spillovers, for three Indian exchange rates: US dollar (USD), Euro and British Pound. We use the spillover index methodology of Diebold and Yilmaz (2009) to analyse precisely and independently the returns and volatility...
Persistent link: https://www.econbiz.de/10009352440
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Testing the shape of EMU term structure of interest rates
Ruiz-Dotras, Elisabet; Bolance-Losilla, Catalina; … - In: International Journal of Financial Markets and Derivatives 1 (2010) 4, pp. 422-437
The creation of EMU raises the question whether the common monetary policy has the same impact in all member countries. We analyse the convergence of interest rates in four major EMU countries from 1999 to 2007. We suggest to test the convergence of the interest rates with the full term...
Persistent link: https://www.econbiz.de/10008755247