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Chiu, Jonathan (contributor); Molico, Miguel (contributor) - 2008

This paper studies the welfare costs and the redistributive effects of inflation in the presence of idiosyncratic liquidity risk, in a micro-founded search-theoretical monetary model. We calibrate the model to match the empirical aggregate money demand and the distribution of money holdings...

Persistent link: https://www.econbiz.de/10003711687

The Cost of Inflation : A Mechanism Design Approach

Rocheteau, Guillaume - 2011

I apply mechanism design to quantify the cost of inflation that can be attributed to monetary frictions alone. In an environment with pairwise meetings, the money demand that is consistent with a constrained-efficient allocation takes the form of a continuous correspondence that can fit the data...

Persistent link: https://www.econbiz.de/10013131291

Unemployment and the demand for money

Huber, Samuel; Kim, Jaehong; Marchesiani, Alessandro - 2019

We develop a dynamic general equilibrium model to analyze the relationship between monetary policy, money demand, and unemployment. Our model succeeds in replicating the empirical fact of a downward sloping Phillips curve for low inflation rates and an upward sloping curve for high inflation...

Persistent link: https://www.econbiz.de/10012018950

Bank-lending standards, the cost channel and inflation dynamics

Kaufmann, Sylvia; Scharler, Johann - 2009

If firms borrow working capital to finance production, then nominal interest rates have a direct influence on inflation dynamics, which appears to be the case empirically. However, interest rates may only partly mirror the cost of working capital. In this paper we explore the role of bank...

Persistent link: https://www.econbiz.de/10009239701

Monetary policy responses to exogenous perturbations : the case of a small open economy (2007-2018)

Warburton, Christopher E. S.; Jackson, E. A. - In: PSL quarterly review 73 (2020) 293, pp. 181-201

While autonomous central banks in large open economies are usually predisposed to use monetary rules to target inflation, output, and long-term interest rates, central banks in small open economies face peculiar challenges in their attempts to attain and maintain liquidity, stable prices and...

Persistent link: https://www.econbiz.de/10012288324

The causes of persistent inflation in Nigeria

Asekunowo, Victor O. - In: CBN journal of applied statistics 7 (2016) 2, pp. 1-27

This study sought to identify the traditional and institutional inflation variables responsible for inflation phenomenon and the magnitude of the contribution of the identified variables to the rise in general price level. Secondary data on key macroeconomic variables in the economy from 1974 to...

Persistent link: https://www.econbiz.de/10011661500

Inflation, Monetary Policy and Structural Adjustment in Zambia

Andersson, Per-Åke; Sjöö, Boo - In: Economia Internazionale / International Economics 55 (2002) 4, pp. 425-449

This paper analyses the monetary policy and its impact on the rate of inflation during the economic structural adjustment programs in Zambia during 1987 to 1993. To avoid the Lucas critique, the focus is on a sample period, 1987 to 1993, which is relevant for analysing inflation and monetary...

Persistent link: https://www.econbiz.de/10008482026

Bayesian prediction with a cointegrated vector autoregression

Villani, Mattias - 1999

vector autoregression is presented. The large degree of uncertainty in the choise of the cointegration vectors is … incorporated into the analysis through a prior distribution on the cointegration vectors which allows the forecaster to … different cointegration vectors are weighted together in an optimal way. The ideas of Litterman (1980) are adapted for the prior …

Persistent link: https://www.econbiz.de/10011584826

Exchange rate devaluation and the demand for real money balances in Jamaica

Howard, Michael - In: Savings and development : quarterly review 26 (2002) 1, pp. 33-48

Persistent link: https://www.econbiz.de/10001683575

Hyperinflation in Zimbabwe : money demand, seigniorage and aid shocks

McIndoe-Calder, Tara - In: Applied economics 50 (2018) 15, pp. 1659-1675

Persistent link: https://www.econbiz.de/10011848833

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