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Business cycle synchronization : is it affected by inflation targeting credibility?
Delgado-Fuentealba, Carlos Leandro; Araya, Iván; Pino, … - In: SERIEs : Journal of the Spanish Economic Association 11 (2020) 2, pp. 157-177
We empirically study the impact of inflation targeting credibility on business cycle synchronization with G-7 economies …. To do this, we use a sample of 15 inflation targeting countries to develop and calculate a reputation-based credibility … findings indicate that greater credibility allows for greater anchoring of inflation expectations by economic agents. This …
Persistent link: https://www.econbiz.de/10012240612
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Inflation targeting in Korea, Indonesia, Thailand, and the Philippines : the impact on business cycle synchronization between each country and the world
Inoue, Takeshi; Toyoshima, Yuki; Hamori, Shigeyuki - Institute of Developing Economies, Japan External Trade … - 2012
This paper empirically analyzes whether and to what extent the adoption of inflation targeting (IT) in Korea, Indonesia, Thailand and the Philippines has affected their business cycle synchronization with the rest of the world. By employing the dynamic conditional correlation (DCC) model...
Persistent link: https://www.econbiz.de/10010540680
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Monetary policy and its transmission in a globalised world
Ca'Zorzi, Michele; Dedola, Luca; Georgiadis, Georgios; … - 2020
This paper estimates and compares the international transmission of European Central Bank (ECB) and Federal Reserve System monetary policy in a unified and methodologically consistent framework. It identifies pure monetary policy shocks by purging them of the bias stemming from contemporaneous...
Persistent link: https://www.econbiz.de/10012216473
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The transmission mechanisms of international business cycles: output spillovers through trade and financial linkages
Bräuning, Falk; Sheremirov, Viacheslav - 2021 - This version: October 2021
We study the transmission channels through which shocks affect the global economy and the crosscountry comovement of real economic activity. For this purpose, we collect detailed data on international trade and financial linkages as well as domestic macro and financial variables for a large set...
Persistent link: https://www.econbiz.de/10012705047
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Monetary policy autonomy and international monetary spillovers
Demir, Ishak - 2019
macroprudential policies, and the credibility of fiscal and monetary policy. …
Persistent link: https://www.econbiz.de/10012147194
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International spillovers of U.S. monetary policy
Demir, Ishak - 2019
We estimate a structural dynamic factor model on large panel quarterly data to analyse the spillovers of U.S. monetary policy to the advanced economies and emerging and frontier market economies. The estimated model suggests that monetary contraction in U.S. leads to a significant decrease in...
Persistent link: https://www.econbiz.de/10012147199
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International Financial Crisis : Expectation Transmission and Policy Synchronisation
Sun, Guofeng - 2020
In recent years, the economic and financial linkages of major economies have become intertwined, and the cross-market contagion effect of the global financial crisis has become more apparent. This paper mainly studies the expectation transmission and policy synchronisation in international...
Persistent link: https://www.econbiz.de/10012837995
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International Financial Crisis : Expectation Transmission and Policy Synchronisation
Sun, Guofeng - 2020
In recent years, the economic and financial linkages of major economies have become intertwined, and the cross-market contagion effect of the global financial crisis has become more apparent. This paper mainly studies the expectation transmission and policy synchronization in international...
Persistent link: https://www.econbiz.de/10012837996
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International Transmission of the US Interest Rate Policy Shocks : Multi-Country Model Analysis Using FAVAR
Yim, Geung Hyung - 2018
This study analyzes the international transmission of US interest rate hikes using the factor-augmented autoregression model. To achieve this purpose, this study first identifies the shocks that result from the US interest rate policies and analyzes how these shocks impact the outputs and prices...
Persistent link: https://www.econbiz.de/10012907265
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Output spillovers from U.S. monetary policy : the role of international trade and financial linkages
Bräuning, Falk; Sheremirov, Viacheslav - 2019 - This version: October, 2019
We estimate that U.S. monetary policy has sizable spillover effects on global economic activity. In response to a surprise increase in the federal funds rate of 25 basis points, real output in our sample of 44 countries declines on average by 0.9% after three years. We find that international...
Persistent link: https://www.econbiz.de/10012135715