Narrow search
Showing 1 - 10 of 32,033
Cover Image
International transmission of shocks, money illusion and the velocity of money
Sousa, Teresa - 2011
economy. Furthermore we introduce a velocity of money shock revisiting the Quantity Theory of Money within the open economy … paradigm of microeconomic theory and invoked since a tendency to think in nominal rather than real terms becomes evident in the … a productivity shock are increasing in the degree of money illusion and decreasing in the degree of openness of the …
Persistent link: https://www.econbiz.de/10009379782
Cover Image
The welfare cost of inflation with banking time
Gillman, Max - 2018
The paper presents the welfare cost of inflation in a banking time economy that models exchange credit through a bank production approach. The estimate of welfare cost uses fundamental parameters of utility and production technologies. It is compared to a cash-only economy, and a Lucas (2000)...
Persistent link: https://www.econbiz.de/10012012509
Cover Image
Monetary policy and wandering overinvestment cycles in East Asia and Europe
Schnabl, Gunther - 2017
The paper analyses the role of monetary policy for cyclical movements of investment and asset markets in East Asia and Europe based on a Mises-Hayek overinvestment framework. It is shown how the gradual global decline of interest rates has triggered wandering overinvestment cycles in Japan,...
Persistent link: https://www.econbiz.de/10011655779
Cover Image
Inflation expectations spillovers between the United States and euro area
Netšunajev, Aleksei; Winkelmann, Lars - 2014
We quantify spillovers of inflation expectations between the United States (US) and Euro Area (EA) based on break-even inflation (BEI) rates. In contrast to previous studies, we model US and EA BEI rates jointly in a structural vector autoregressive (SVAR) model. The SVAR approach allows to...
Persistent link: https://www.econbiz.de/10010255370
Cover Image
International dynamics of inflation expectations
Netšunajev, Aleksei; Winkelmann, Lars - 2016
To what extent are US and Euro Area (EA) inflation expectations determined by foreign shocks? How do transmissions change during the great recession and European sovereign debt crisis? We address these questions with a flexible structural VAR model of weekly financial markets’ inflation...
Persistent link: https://www.econbiz.de/10011458367
Cover Image
Has Asian Emerging Market Monetary Policy Been Too Procyclical When Responding to Swings in Commodity Prices?
Filardo, Andrew J. - 2014
Commodity price fluctuations in recent years have led to wide swings in inflationary pressures across Asian emerging market economies and have revived the discussion on how monetary policy should best react. We argue that the conventional wisdom for emerging market economies of treating...
Persistent link: https://www.econbiz.de/10013049950
Cover Image
International Policy Spillovers at the Zero Lower Bound
Haberis, Alex - 2012
open economy (‘home') in response to a large global demand shock that pushes both economies to the zero lower bound (ZLB …
Persistent link: https://www.econbiz.de/10013099666
Cover Image
International Policy Spillovers at the Zero Lower Bound
Haberis, Alex - 2012
open economy ('home') in response to a large global demand shock that pushes both economies to the zero lower bound (ZLB …
Persistent link: https://www.econbiz.de/10013106784
Cover Image
The importance of global shocks for national policymakers : rising challenges for central banks
Belke, Ansgar; Rees, Andreas - 2009
We analyze the importance of global shocks for the global economy and national policy makers. More specifically, we investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether there is increasing uncertainty for central banks due...
Persistent link: https://www.econbiz.de/10003879570
Cover Image
The importance of global shocks for national policy makers : rising challenges for central banks
Belke, Ansgar; Rees, Andreas - 2009
We analyze the importance of global shocks for the global economy and national policy makers. More specifically, we investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether there is increasing uncertainty for central banks due...
Persistent link: https://www.econbiz.de/10003884937