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"Economic Policy in India: For Economic Stimulus, or for Austerity and Volatility?"
Sen, Sunanda; DasGupta, Zico - Levy Economics Institute - 2014
The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...
Persistent link: https://www.econbiz.de/10010862118
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Credit, Financial Stability, and the Macroeconomy
Taylor, Alan M. - C.E.P.R. Discussion Papers - 2015
Since the 2008 global financial crisis, and after decades of relative neglect, the importance of the financial system and its episodic crises as drivers of macroeconomic outcomes has attracted fresh scrutiny from academics, policy makers, and practitioners. Theoretical advances are following a...
Persistent link: https://www.econbiz.de/10011213304
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Betting the House
Jorda, Oscar; Schularick, Moritz; Taylor, Alan M. - Hong Kong Institute for Monetary Research (HKIMR), … - 2014
Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of modern economic history in the advanced economies. We...
Persistent link: https://www.econbiz.de/10011144022
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Betting the House
Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2014
Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of modern economic history in the advanced economies. We...
Persistent link: https://www.econbiz.de/10011145419
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ROMANIA IN A POST-CREDIT CRUNCH WORLD? A CAUTIONARY TALE FROM AUSTRALIA AND AMERICA
Costea, Carmen; Keen, Steve - In: Journal for Economic Forecasting 6 (2009) 1, pp. 16-35
We present data on debt accumulation in Australia and the United States, and tentative data on Romania, to pose the question of whether Romania might experience a credit crunch as a result of the US subprime financial crisis. We develop a model of a credit crunch in a pure credit economy with...
Persistent link: https://www.econbiz.de/10005052119
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An inflation expectations horserace
Guzman, Giselle C. - Volkswirtschaftliche Fakultät, … - 2010
For decades, the academic literature has focused on three survey measures of expected inflation: the Livingston Survey … models of forecasting inflation, the data are low frequency measures which appear anachronistic in the modern era of high … frequency and real-time data. I present a collection of 37 different measures of inflation expectations, including many …
Persistent link: https://www.econbiz.de/10009647457
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Monetary Policy of Quantitative Easing at the Central Bank’s High Interest Rates
BLINOV, Sergey - Volkswirtschaftliche Fakultät, … - 2014
This paper investigates the possibility of conducting an unconventional monetary policy of Quantitative easing (QE) at high interest rates using the example and experience of Russia. The Central Bank of the Russian Federation has raised the key interest rate on six occasions during the 12 months...
Persistent link: https://www.econbiz.de/10011110135
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Monetary Policy Responses to the Crisis and Exit Strategies
Minegishi, Makoto; Cournède, Boris - Economics Department, Organisation de Coopération et … - 2010
preserve the hard-won anchoring of inflation expectations and dissipate any hypothetical fears that central banks? greater risk …, des anticipations d'inflation et d'éviter une situation hypothétique dans laquelle le public craindrait que la plus grande …
Persistent link: https://www.econbiz.de/10008542499
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Can Tighter Money Now Mean Higher Inflation Now?
Schulze, H. - Nationalekonomiska Institutionen, Uppsala Universitet - 1996
may in some cases increase the rate of inflation - not only in the end, but even from the start. I show that this … "spectacular" result ceases to hold if the central bank is restricted always to choose the lowest final inflation rate. On the …
Persistent link: https://www.econbiz.de/10005669606
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Monetary Policy after the Crisis
Pagano, Patrizio; Chobanov, Petar Pandushev; LAHIANI, Amine - SUERF - The European Money and Finance Forum
On 4 March 2011, SUERF – The European Money and Finance Forum and the National Bank of Poland jointly organised a conference on the theme of: "Monetary Policy after the Crisis". Following a call for papers with a large number of submissions, the scientific committee selected 9 papers, which...
Persistent link: https://www.econbiz.de/10009391856