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Zur Rolle der Geldpolitik im Konjunkturzyklus / On the Role of Monetary Policy in the Business Cycle
Holstein, Michael - In: Jahrbücher für Nationalökonomie und Statistik 218 (1999) 3-4, pp. 346-360
Souveränität in geldpolitischen Fragen an die Europäische Zentralbank ab. Die Geldpolitik scheidet somit als Instrument der … Rezession) zukommt, so kann die Vereinheitlichung der Geldpolitik zu negativen Auswirkungen auf die konjunkturelle Entwicklung … Geldpolitik auf die Entwicklung der kurzfristigen Zinssätze analysiert, um schließlich mittels einer VAR-Analyse Aufschluß über …
Persistent link: https://www.econbiz.de/10014608685
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Real wages and monetary policy: a DSGE approach
Perry, Bryan; Phillips, Kerk; Spencer, David E. - In: Journal of Economic Studies 42 (2015) 5, pp. 734-752
Purpose – Studies of the cyclical behavior of real wages have identified monetary shocks and examined the response of real wages and output or employment. A finding that real wages are procyclical in response to a positive monetary policy shock is taken as evidence that prices are stickier...
Persistent link: https://www.econbiz.de/10014863973
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Monetary policy in an uncertain world: probability models and the design of robust monetary rules
Levine, Paul - In: Indian Growth and Development Review 5 (2012) 1, pp. 70-88
Purpose – The purpose of this paper is to describe the transformation of macro‐modelling from reduced form behavioural equations estimated separately, through to contemporary microfounded dynamic stochastic general equilibrium (DSGE) models estimated by systems methods. It is argued that...
Persistent link: https://www.econbiz.de/10014758958
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The Monetary Transmission Mechanism in Egypt
Al-Mashat, Rania; Billmeier, Andreas - In: Review of Middle East Economics and Finance 4 (2008) 3, pp. 32-82
This paper examines the monetary transmission mechanism in Egypt against the background of the central bank's intention to shift to inflation targeting. It first describes the changing transmission channels over the last decade. Second, the channels are evaluated in a VAR model. The exchange...
Persistent link: https://www.econbiz.de/10014618769
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Prospects for Inflation Targeting in the MENA Region: Feasibility, Desirability and Alternatives
Yeldan, Erinc A. - In: Review of Middle East Economics and Finance 4 (2008) 3, pp. 83-100
Inflation targeting (IT) has recently become the dominant monetary policy prescription over the last decade. Emerging markets governments, in particular, are increasingly pressured to follow IT as part of their IMF-led stabilization packages and the routine rating procedures of the international...
Persistent link: https://www.econbiz.de/10014618778
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Financial market reactions to announcements of monetary policy decisions
Ferreira de Mendonça, Helder; Faria, Ivando - In: Journal of Economic Studies 40 (2013) 1, pp. 54-70
Purpose – The purpose of this paper is to make an analysis of the Brazilian experience after the adoption of inflation targeting concerning the effects caused by the new practices of transparency and communication in the monetary policy. Design/methodology/approach – Changes in the financial...
Persistent link: https://www.econbiz.de/10014863354
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Credibility and the credit channel transmission of monetary policy theoretical model and econometric analysis for Brazil
Caldas Montes, Gabriel; Cabral Machado, Caroline - In: Journal of Economic Studies 40 (2013) 4, pp. 469-492
Purpose – The purpose of this paper is to present a theoretical model and empirically verifies the transmission of monetary policy through the credit channel in Brazil. The study verifies if the monetary policy, the economic activity and the maturity of the inflation targeting regime affect...
Persistent link: https://www.econbiz.de/10014864360
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Central bank opacity and inflation uncertainty
Almeida, Ronaldo Trogo de; Corrêa, Wilson Luiz Rotatori; … - In: Journal of Economic Studies 44 (2017) 2, pp. 313-328
Purpose This paper relates to the literature on central bank (CB) transparency and inflation uncertainty. Considering that opacity is a possible source for inflation uncertainty the purpose of this paper is to test the hypothesis that increase in the dispersion of the degree of CB opacity...
Persistent link: https://www.econbiz.de/10014864513
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Inflation targeting and inflation management in Ghana
Kyereboah‐Coleman, Anthony - In: Journal of Financial Economic Policy 4 (2012) 1, pp. 25-40
Purpose – The Ghanaian economy has experienced relative stability, improved macroeconomic performance and resilience over the past few years, following the introduction of a new monetary policy framework called inflation targeting (IT). The purpose of this paper is to look at IT and its effect...
Persistent link: https://www.econbiz.de/10014866856
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Monetary policy in India: is something amiss?
Cristadoro, Riccardo; Veronese, Giovanni - In: Indian Growth and Development Review 4 (2011) 2, pp. 166-192
Purpose – Indian monetary policy performed reasonably well in the past, while both strategy and operational framework were evolving on par with domestic financial and monetary markets. The purpose of this paper is to document how this good track record came to an abrupt stop in recent years as...
Persistent link: https://www.econbiz.de/10014758954