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Nominal Exchange Rate Anchoring Under Inflation Inertia
Calvo, Guillermo A.; Celasun, Oya; Kumhof, Michael - 2021
This paper develops a theory of inflation inertia based on forward looking staggered price setting in the nontradable … inflation rate take time even if they are fully credible, and they are associated with significant output losses in nontradables …
Persistent link: https://www.econbiz.de/10013317938
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Effective exchange rate regimes and inflation
Harms, Philipp; Knaze, Jakub - 2021 - This version: February 5, 2021
that our "effective" approach is superior when it comes to assessing the impact of exchange rate regimes on inflation … trading partners. Using our measure of effective exchange rate regimes in a standard empirical analysis of inflation … associated with significantly lower inflation rates. This challenges the established view that soft pegs do not matter - or are …
Persistent link: https://www.econbiz.de/10013329739
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Expected Regime Change : Transition toward Nominal Exchange Rate Stability
Brázdik, František - 2013
deliver the lowest welfare loss. Under the assumptions taken, the strict inflation-targeting regime is identified as the best …
Persistent link: https://www.econbiz.de/10013081050
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Macroeconomic Stability : Transition Towards the Nominal Exchange Rate Stability
Brázdik, František - 2013
The novelty of this work is in the presentation of a theoretical framework that allows the modeling of an announced switch of the monetary regime. In our experiment, the monetary authority announces stabilization of the nominal exchange rate after the announced number of periods. We analyze the...
Persistent link: https://www.econbiz.de/10013095584
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The shocks matter : improving our estimates of exchange rate pass-through
Forbes, Kristin; Hjortsoe, Ida; Nenova, Tsvetelina - 2015
A major challenge for monetary policy has been predicting how exchange rate movements will impact inflation. We propose …
Persistent link: https://www.econbiz.de/10011384119
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An exchange rate policy rule
Parrado, Eric - 2023
responds to inflation and output volatility, especially during economic crises. This framework offers a promising alternative …
Persistent link: https://www.econbiz.de/10014538995
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Fixed exchange rate - a friend or foe of labor cost adjustments?
Milivojevic, Lazar; Tatar, Balint - 2021
This paper examines the effectiveness of labor cost reductions as a means to stimulate economic activity and assesses the differences which may occur with the prevailing exchange rate regime. We develop a medium-scale three-region DSGE model and show that the impact of a cut in employers' social...
Persistent link: https://www.econbiz.de/10012432966
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Exchange Rate and Output Dynamics between Japan and Korea
Kang, Sammo; Wang, Yunjong; Yoon, Deok Ryong; Kim, Soyoung - 2013
Japan and Korea are close countries in terms of economic interaction as well as geography. To quantify the impact of changes in the yen-dollar exchange rate on the Korean economy before and after the crisis in 1997, the sample period has been divided into two sub-periods and the causal...
Persistent link: https://www.econbiz.de/10014077148
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Exchange rate pass-through in Russia
Ponomarev, Jurij; Trunin, Pavel V.; Uljukaev, Aleksej V. - 2014
The article provides estimates of short-run and medium-run exchange rate pass-through into domestic prices in Russia during the period of 2000–2012 using vector error correction model. Exchange rate pass-through asymmetry estimates, its assessments on different sub-periods and exchange rate...
Persistent link: https://www.econbiz.de/10011398366
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Price-setting and exchange rate pass-through in the Mexican economy : evidence from CPI micro data
Kochen, Federico; Sámano, Daniel - 2016
allows us to evaluate the anchoring of inflation expectations in the Mexican economy. To address this issue, in this paper we …
Persistent link: https://www.econbiz.de/10011523612