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The Exchange Rate as an Instrument at Zero Interest Rates: The Case of the Czech Republic
Franta, Michal; Holub, Tomas; Kral, Petr; Kubicova, Ivana; … - Česká Národní Banka - 2014
This study examines the use of the exchange rate by the Czech National Bank as a monetary policy instrument at the zero lower bound on interest rates. It provides a review of the economic literature on unconventional monetary policy instruments and particularly on the possibility of using the...
Persistent link: https://www.econbiz.de/10011156767
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Exchange Rate Pass-Through in the Deflationary Japan: How Effective is the Yen’s Depreciation for Fighting Deflation?
Fujii, Eiji - CESifo - 2004
There is an increasing endorsement for the yen’s depreciation as a means to fight the ongoing deflation in Japan. The … deflationary period. We then assess quantitatively the expected effectiveness of depreciation in taming the deflation. Our …
Persistent link: https://www.econbiz.de/10005766039
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The Travails of Current Macroeconomic and Exchange Rate Management in China: The Complications of Switching to a New Growth Engine
Woo, Wing Thye - EconWPA - 2003
deflation phenomenon because a chronic trade surplus means that national savings is larger than domestic investments, the result …-oriented sectors. The long-run solution to eradicating the deflation bias and the tendency toward current account surplus lies in …
Persistent link: https://www.econbiz.de/10005062405
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Frontiers of Monetary Policymaking: Adding the Exchange Rate as a Tool to Combat Deflationary Risks in the Czech Republic
Alichi, Ali; Benes, Jaromir; Felman, Joshua; Feng, Irene; … - International Monetary Fund (IMF) - 2015
complementary monetary policy tool to stimulate the economy and combat the risks of deflation when the policy interest rate is at …
Persistent link: https://www.econbiz.de/10011242190
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Is revaluation of the renminbi good news?
Rossi, Vanessa - In: CESifo Forum 6 (2005) 3, pp. 29-36
Persistent link: https://www.econbiz.de/10004998576
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On the renminbi
Frankel, Jeffrey - In: CESifo Forum 6 (2005) 3, pp. 16-21
Persistent link: https://www.econbiz.de/10004998733
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Essays on Empirical Macroeconomics
Mehrotra, Aaron - Suomen Pankki - 2006
variables appear unaltered by deflation, a further stimulative impact is difficult to implement once the zero bound is hit. This …
Persistent link: https://www.econbiz.de/10008692075
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Risks to price stability, the zero lower bound and forward guidance: a real-time assessment
Coenen, Günter; Warne, Anders - European Central Bank - 2013
in the risk balance throughout our evaluation period because of the implied amplification of deflation risks. We then …
Persistent link: https://www.econbiz.de/10010693493
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Risks to price stability, the zero lower bound and forward guidance: A real-time assessment
Coenen, Günter; Warne, Anders - Center for Financial Studies - 2013
in the risk balance throughout our evaluation period because of the implied amplification of deflation risks. We then …
Persistent link: https://www.econbiz.de/10010986359
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Exchange and interest rate channels during a deflationary era - Evidence from Japan, Hong Kong and China
Mehrotra, Aaron - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2005
We examine the role of the exchange and interest rate channels during recent deflation episodes in Japan, Hong Kong and … evidence about the role of external influences in the deflation episodes of these economies, and could also be seen to weakly …
Persistent link: https://www.econbiz.de/10005190693