Showing 1 - 10 of 42,015
"Leaning against the wind" – a tighter monetary policy than necessary for stabilizing inflation around the inflation …
Persistent link: https://www.econbiz.de/10010733867
This paper introduces a new indicator of core inflation for New Zealand, estimated using a dynamic factor model and … core indicator with a wide range of other ‘core inflation’ measures estimated from disaggregate consumer prices, such as … the weighted median and the trimmed mean. The medium term inflation target of Reserve Bank of New Zealand is used as a …
Persistent link: https://www.econbiz.de/10005656226
liberalization until the South African Reserve Bank (SARB) moved to the official inflation-targeting regime. The effect of house …
Persistent link: https://www.econbiz.de/10010552942
This paper investigates the existence of significant spillovers from the housing sector onto the wider economy for the seven major OECD countries using Uhlig's (2005) agnostic identification procedure. This method allows identifying a housing demand shock in a six-variable VAR model by imposing...
Persistent link: https://www.econbiz.de/10009323420
This paper investigates the existence of significant spillovers from the housing sector onto the wider economy for eight OECD countries in a six-variable structural vector autoregressive model (SVAR). A housing demand shock is identified through the recursive Choleski decompostion and,...
Persistent link: https://www.econbiz.de/10010639468
This paper investigates the existence of spillovers from stock prices onto consumption and the interest rate for South Africa using a time-varying vector autoregressive (TVP-VAR) model with stochastic volatility. In this regard, we estimate a three-variable TVP-VAR model comprising of real...
Persistent link: https://www.econbiz.de/10010658702
This paper investigates the existence of significant spillovers from the housing sector onto the wider economy for the seven major OECD countries using Uhlig's (2005) agnostic identification procedure. This method allows a housing demand shock to be identified in a six-variable VAR model by...
Persistent link: https://www.econbiz.de/10011277019
This study analyses empirically the link between real house prices and key macro variables like prices, output and interest rates for ten OECD countries. We find out that a monetary policy shock lowers real house prices in all ten countries, where the interest rate shock explains between 12 and...
Persistent link: https://www.econbiz.de/10005034973
to their increase, an unanticipated hike in policy rate has no impact on them. The impact on inflation is also symmetric … neutral to components of aggregate demand and, thus, on inflation, ranging from 6.25 per cent to 7.0 per cent. …
Persistent link: https://www.econbiz.de/10011107770
Studies on Malaysia monetary policy mostly examine the effect of monetary policy change on output and inflation in … study on the effect of policy change on disaggregated inflation. This paper attempts to examine the later issue by employing … index, we find that a modest monetary policy shock results in varying degree of responses in disaggregated inflation. In …
Persistent link: https://www.econbiz.de/10011110651