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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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International transmission of shocks, money illusion and the velocity of money
Sousa, Teresa - 2011
Money illusion is "frequently invoked and frequently resisted" by economists. Resisted as it contradicts the maximizing paradigm of microeconomic theory and invoked since a tendency to think in nominal rather than real terms becomes evident in the behavior of agents. This paper rationalizes...
Persistent link: https://www.econbiz.de/10009379782
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Has integration promoted business cycle synchronization in the enlarged EU?
Antonakakis, Nikolaos; Tondl, Gabriele - 2011
This paper examines whether European integration, manifesting itself in increased trade and FDI linkages, new specializations and economic policy coordination, contributed to the synchronization of business cycles in the enlarged EU. We estimate the effects on bilateral growth rate correlations...
Persistent link: https://www.econbiz.de/10011346443
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International Transmission of Shocks, Money Illusion and the Velocity of Money
Sousa, Teresa - 2011
Money illusion is frequently invoked and frequently resisted by economists. Resisted as it contradicts the maximizing paradigm of microeconomic theory and invoked since a tendency to think in nominal rather than real terms becomes evident in the behavior of agents. This paper rationalizes money...
Persistent link: https://www.econbiz.de/10013117366
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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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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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International Comovements in Inflation Rates and Country Characteristics
Neely, Christopher J. - 2011
Common shocks, similarities in central bank reaction functions, and international trade potentially produce common components in international inflation rates. This paper characterizes such links in international inflation rates with a dynamic latent factor model that decomposes 64 national...
Persistent link: https://www.econbiz.de/10012714097