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Korea's inflation expectations with regard to the Phillips Curve and implications of the COVID-19 crisis
Jung, Kyu-Chul - In: KDI-journal of economic policy 43 (2021) 2, pp. 81-101
This paper estimates the expectation-augmented Phillips curve, which explains inflation dynamics, in Korea. The phenomenon of low inflation in Korea has been going on for quite some time, in particular since 2012. During the Covid-19 crisis, due to low inflation expectations the operation of...
Persistent link: https://www.econbiz.de/10012591523
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The possible unemployment cost of average inflation below a credible target : a replication study of Svensson (American Economic Journal: Macroeconomics, 2015)
Oraby, Ramy - In: Journal of comments and replications in economics 1 (2022), pp. 1-21
This paper replicates the main analysis of Svensson (2015) with some expansion to the original analysis, mainly for the United States. Overall, the replication exercise successfully confirms the conclusions of Svensson (2015). In both Sweden and the United States, empirical evidence sup- ports...
Persistent link: https://www.econbiz.de/10013179358
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Inflation dynamics : expectations, structural breaks and global factors
Siklos, Pierre L. - In: Review of Economic Analysis : REA 12 (2020) 2, pp. 203-233
There is no consensus over the importance of "global forces" on inflation. This study explores the role of structural breaks in the inflation process, and their timing, whether it is common across countries, and the extent to which "global forces" are relevant. Three conclusions stand out....
Persistent link: https://www.econbiz.de/10012269197
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Inflation dynamics and exchange rate pass-through in Nigeria : evidence from augmented nonlinear new Keynesian Philips Curve
Bello, Usman A.; Sanusi, Aliyu Rafindadi - In: CBN journal of applied statistics 10 (2019) 2, pp. 109-138
This paper estimates a nonlinear augmented New Keynesian Philips Curve for Nigeria using the Smooth Transition Regression model for the period 1995Q1 to 2018Q2. The empirical evidence reveals the existence of two inflation regimes during the period under review. Food inflation, energy inflation,...
Persistent link: https://www.econbiz.de/10012178169
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Denoised inflation : a new measure of core inflation
Hanif, Muhammad Nadim; Iqbal, Javaid; Ali, Syed Hamza; … - In: Journal of central banking theory and practice 9 (2020) 2, pp. 131-154
Existing measures of core inflation ignore a part of ‘should be’ the core inflation. Exclusion based measures ‘exclude’ a part of persistent inflation inherently existing in the excluded part whereas filter based measures ‘filter-out’ the cyclical part also rather than the irregular...
Persistent link: https://www.econbiz.de/10012305830
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Geldpolitik im heterogenen Währungsraum und die offene Frage der Konvergenz
Afflatet, Nicolas - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 96 (2016) 3, pp. 193-197
Innerhalb einer Währungsunion ist eine souveräne nationale Geldpolitik nicht möglich. Solange die einzelnen Länder sich … in verschiedenen ökonomischen Situationen befi nden, wirkt sich auch die gemeinsame Geldpolitik unterschiedlich aus. Sind … die Länder zu heterogen, kann die gemeinsame Geldpolitik zu verstärkter Divergenz führen. Der Autor hat die Entwicklung …
Persistent link: https://www.econbiz.de/10011440590
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The primary goal of monetary policy : reflections on the nature of the problem
Hetmańczuk, Adam - In: Central European review of economics and management : CEREM 5 (2021) 1, pp. 77-101
Aim: In this article, the state of the discourse concerning the final goal of the modern central bank is presented, in particular the aim of price stability, understood as low and stable inflation. Design/Research methods: The article was prepared on the basis of scientific publications in the...
Persistent link: https://www.econbiz.de/10013198396
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ECB can lower fuel and heating costs by increasing interest rates but would risk economic recovery
Ider, Gökhan; Kriwoluzky, Alexander; Kurcz, Frederik - In: DIW weekly report : economy, politics, science : a … 12 (2022) 14/15/16, pp. 109-115
Inflation has been growing considerably since the middle of 2021, with rising energy prices driving the increase in particular. Since the end of February 2022, the trend has also been exacerbated by the ongoing Russian invasion of Ukraine. To keep prices stable, the European Central Bank must...
Persistent link: https://www.econbiz.de/10013190487
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Geldpolitik : EZB-Bashing gerechtfertigt?
Marquardt, Ralf-Michael - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 102 (2022) 1, pp. 8
Persistent link: https://www.econbiz.de/10012813356
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Looking into the rear-view mirror : lessons from Japan for the Eurozone and the U.S?
Siklos, Pierre L. - In: Asia and the global economy : AGE 1 (2021) 1, pp. 1-20
This paper reconsiders the narratives surrounding Japan's economic performance since the 1980s in relation to the experiences of the U.S. and the Eurozone. There are important differences between these three economies and some striking parallels. It is found that the poor reputation of the Bank...
Persistent link: https://www.econbiz.de/10012816140