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Relative Price Variability : The Case of Turkey 1994-2002
Kucuk-Tuger, Hande; Tuger, Burc - In: Central Bank Review 4 (2004) 2, pp. 1-40
, 1981). Given the costs associated with relative price variability, the relation between inflation and relative price … dynamics of inflation are presented. The relation between relative price variability and inflation is verified by carrying out … variability and inflation in Turkey. Besides, inflation is found to Granger-cause relative price variability. These conclusions …
Persistent link: https://www.econbiz.de/10005792637
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Financial Markets Interactions between Economic Theory and Practice
NICOLAU, Mihaela - In: Economics and Applied Informatics (2010) 2, pp. 27-36
analysis of financial markets’ behaviour through inflation and interest rates cannot define the real interactions of the …
Persistent link: https://www.econbiz.de/10010625562
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Cross-Hedging of Inflation Derivatives on Commodities: The Informational Content of Futures Markets
Fulli-Lemaire, Nicolas; Palidda, Ernesto - Volkswirtschaftliche Fakultät, … - 2013
According to the macro-econometric literature, the impact of exogenous oil price shocks on Inflation have greatly … increased in the last two decades throughout OECD countries while the persistence of those shocks on long-term inflation, namely … core inflation, has dramatically decreased. In the meantime, the market for inflation derivatives soared, spurred by a …
Persistent link: https://www.econbiz.de/10011112518
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Correlation Structure between Inflation and Oil Futures Returns: An Equilibrium Approach
Casassus, Jaime; Ceballos, Diego - Instituto de Economía, Facultad de Ciencia Económicas … - 2010
We use a general equilibrium model of a monetary economy to understand the economics behind the correlation between in nation and oil futures returns. Oil is used as both, an input to the production of capital and as a consumption good. We estimate our model using maximum likelihood with the...
Persistent link: https://www.econbiz.de/10008642618
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Leverage and Financial Instability
A. Smirnov. - In: VOPROSY ECONOMIKI 9 (2012)
In the paper some prominent features of a modern financial system are studied using the model of leverage dynamics. Asset securitization is considered as a major factor increasing aggregate debt and hence system’s uncertainty and instability. A simple macrofinancial model includes a logistic...
Persistent link: https://www.econbiz.de/10010860821
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Sovereign default Risk in the Euro-Periphery and the Euro-Candidate Countries
Gabrisch, Hubert; Orlowski, Lucjan T.; Pusch, Toralf - Volkswirtschaftliche Fakultät, … - 2012
This study examines the key drivers of sovereign default risk in five euro area periphery countries and three euro-candidates that are currently pursuing independent monetary policies. We argue that the recent proliferation of sovereign risk premiums stems from both domestic and international...
Persistent link: https://www.econbiz.de/10011257986
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Leveraged Borrowing and Boom-Bust Cycles
Pintus, Patrick; Wen, Yi - In: Review of Economic Dynamics 16 (2013) 4, pp. 617-633
Investment booms and asset "bubbles" are often the consequence of heavily leveraged borrowing and speculations of persistent growth in asset demand. We show theoretically that dynamic interactions between elastic credit supply (due to leveraged borrowing) and persistent credit demand (due to...
Persistent link: https://www.econbiz.de/10010856604
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Propagation of Financial Tensions from Developed Economies to Emerging Economies
MUNTEAN, Mihaela-Carmen; NISTOR, Costel; NISTOR, Rozalia; … - In: Economics and Applied Informatics (2011) 1, pp. 81-90
This paper aims to present the effect they have financial tensions in countries with developed economies on emerging economies. Because many economies have entered into recession, this has resulted in significant slowing of economic growth. The paper’s objectives are related to the...
Persistent link: https://www.econbiz.de/10010858421
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Bank of Russia at the Cross-roads: Should Monetary Policy Be Eased?
Goryunov, E.; P. Trunin. - In: VOPROSY ECONOMIKI 6 (2013)
Recent slowdown of economic growth forces Russian political authorities to seek for policy measures to support economic activity, and monetary expansion is considered as one of possible alternatives. During the post-crisis period monetary authorities of advanced economies have relied heavily on...
Persistent link: https://www.econbiz.de/10010860850
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Smells Like Fiscal Policy? Assessing the Potential Effectiveness of the ECB's OMT Program
Hristov, Nikolay; Hülsewig, Oliver; Siemsen, Thomas; … - CESifo - 2014
This paper explores the potential effectiveness of the ECB’s Outright Monetary Transaction (OMT) program in safeguarding an appropriate monetary policy transmission. Since the program aims at manipulating bank lending rates by conducting sovereign bond purchases on secondary markets, a stable...
Persistent link: https://www.econbiz.de/10010877947