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inflation, trade flows, capital inflow, capital account transactions, reserve accumulation, global liquidity (e.g., global broad … money), and monetary aggregates, with regard to Indonesia's GDP variables and inflation. This paper uses threshold vector … identified two groups of upper regime and lower regime world variables-namely, world inflation, world GDP, and world commodity …
Persistent link: https://www.econbiz.de/10012799838
We analyze the economic consequences of forming a monetary union among countries with varying degrees of financial distortions, which interact with the firms' pricing decisions because of customer-market considerations. In response to a financial shock, firms in financially weak countries (the...
Persistent link: https://www.econbiz.de/10011932300
) models, with and without financial frictions, for output growth and inflation in the period 1992 to 2011. We find strong …
Persistent link: https://www.econbiz.de/10010414783
) models, with and without financial frictions, for output growth and inflation in the period 1992 to 2011. We find strong …
Persistent link: https://www.econbiz.de/10013044329
for output growth and inflation from 1992 to 2011. We find strong evidence of time variation in the pool's weights …
Persistent link: https://www.econbiz.de/10013046125
during and following the recent Great Recession, and that models in which inflation depends on economic slack cannot explain … the recent muted behavior of inflation, given the sharp drop in output that occurred in 2008-09. In this paper, we use a … protracted decline in inflation. The model does so even though inflation remains very dependent on the evolution of both economic …
Persistent link: https://www.econbiz.de/10009744674
during and following the recent Great Recession, and that models in which inflation depends on economic slack cannot explain … the recent muted behavior of inflation, given the sharp drop in output that occurred in 2008-09. In this paper, we use a … protracted decline in inflation. The model does so even though inflation remains very dependent on the evolution of both economic …
Persistent link: https://www.econbiz.de/10013081875
chartalist, respectively), the rate of wage inflation depends on either unemployment or the wage-setting policies of the … inflation affects aggregate demand through its impact on the value of assets and debts. Bank rates depend on an endogenous …
Persistent link: https://www.econbiz.de/10013021745
The right response to a speculative attack on the domestic currency by monetary authorities in a country with liabilities in US dollars has been a matter of hot debate among academics and policy makers especially after the East Asian Crisis. Using a modified version of the currency crisis model...
Persistent link: https://www.econbiz.de/10003744532
We consider a Keynes-Goodwin model of effective demand and the distributive cycle where workers purchase goods and houses with marginal propensity significantly larger than one. They therefore need credit, supplied from asset holders, and have to pay interest on their outstanding debt. In this...
Persistent link: https://www.econbiz.de/10003861624