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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

Exchange rate targeting versus inflation targeting : empirical analysis of the impact on employment and economic growth

Krušković, Borivoje - In: Journal of central banking theory and practice 9 (2020) 2, pp. 67-85

This paper analyses the effects of two alternative monetary strategies (exchange rate targeting and inflation targeting) on economic growth and employment. On the panel of 18 countries for the period from 1996 to 2013, I tested the hypothesis that countries in exchange rate targeting have a...

Persistent link: https://www.econbiz.de/10012305750

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

Growth prospects, the natural interest rate, and monetary policy

Fiedler, Salomon; Gern, Klaus-Jürgen; Jannsen, Nils; … - 2019

The recovery from the Global Financial Crisis was characterized by sluggish output growth and by inflation remaining persistently below the inflation targets of central banks in many advanced economies despite an unprecedented monetary expansion. Ten years after the Global Financial Crisis, GDP...

Persistent link: https://www.econbiz.de/10012022449

Price stability and climate risks : sensible measures for the European Central Bank

Bremus, Franziska; Dany-Knedlik, Geraldine; Schlaak, Thore - In: DIW weekly report : economy, politics, science : a … 10 (2020) 14, pp. 206-213

By the end of 2020, the European Central Bank (ECB) will present the results of its monetary policy strategy review. What changes are to be expected and what changes are needed? This report covers two areas of the strategy review. First, alternatives to the current definition of price stability...

Persistent link: https://www.econbiz.de/10012198219

Monetary policy transmission : the case of Lithuania

Stakenas, Julius; Stasiukynaite, Rasa - In: Baltic journal of economics 17 (2017) 1, pp. 1-24

We study the effect of a (standard) monetary policy shock in the euro area on the Lithuanian economy. We employ a structural vector autoregressive model incorporating variables from both the euro area and Lithuania. The model exhibits a block exogenous structure to account for the fact that...

Persistent link: https://www.econbiz.de/10011890930

Inflation in the euro area : factors mostly have only a temporary effect, but risk of prolonged elevated inflation remains

Bernoth, Kerstin; Ider, Gökhan - In: DIW weekly report : economy, politics, science : a … 11 (2021) 41/42, pp. 315-323

Headline inflation in the euro area jumped to more than three percent in the summer after years of relatively low inflation rates well below the target of close to but below two percent set by the ECB until July 2021. One of the main reasons for the rise in inflation is the increase in energy...

Persistent link: https://www.econbiz.de/10012667065

Geldpolitik : EZB-Bashing gerechtfertigt?

Marquardt, Ralf-Michael - In: Wirtschaftsdienst : Zeitschrift für Wirtschaftspolitik 102 (2022) 1, pp. 8

Persistent link: https://www.econbiz.de/10012813356

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

The relationship between inflation and economic growth: experiences of some inflation targeting countries

Ekinci, Ramazan; Tüzün, Osman; Ceylan, Fatih - In: Financial studies 24 (2020) 1, pp. 6-20

The relationship between price stability and economic growth has gained importance as a fundamental reason for the monetary policies based on the inflation targeting regime. Nevertheless, there is no theoretical evidence as to which inflation level is considered to be high or low for economic...

Persistent link: https://www.econbiz.de/10012210632

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