Narrow search
Showing 1 - 10 of 8,390
Cover Image
The 'Uncovered Inflation Rate Parity' Condition in a Monetary Union
Acocella, Nicola - 2020
The uncovered interest rate parity condition lies at the heart of the "impossible trinity", stating that the three objectives of fixed exchange rates, free capital flows, and independent monetary policy cannot be pursued simultaneously. We argue that although monetary unification does indeed...
Persistent link: https://www.econbiz.de/10012851840
Cover Image
The "uncovered inflation rate parity" condition in a monetary union
Acocella, Nicola; Pasimeni, Paolo - 2018
The uncovered interest rate parity condition lies at the heart of the "impossible trinity", stating that the three objectives of fixed exchange rates, free capital flows, and independent monetary policy cannot be pursued simultaneously. We argue that although monetary unification does indeed...
Persistent link: https://www.econbiz.de/10011926988
Cover Image
The P-Star Model and Austrian Prices
Tatom, John - 2006
-run equilibrium level of the velocity of money. This article applies this model to Austria. Problems in identifying permanent shocks …-difference version is not so suspect. While evidence is found of a long-run relationship between Austria inflation and money growth, even … the first-difference version of the P-star model is rejected for Austria. Since Austria is a small economy, closely tied …
Persistent link: https://www.econbiz.de/10014056609
Cover Image
Has the Euro Affected the Choice of Invoicing Currency?
Ligthart, Jenny E. - 2011
We present a new approach to study empirically the effect of the introduction of the euro on the pattern of currency invoicing. Our approach uses a compositional multi-nomial logit model, in which currency choice is explained by both currency-specific and country-specific determinants. We use...
Persistent link: https://www.econbiz.de/10013129945
Cover Image
Has the Euro Affected the Choice of Invoicing Currency?
Ligthart, Jenny E. - 2013
We present a new approach to study empirically the effect of the introduction of the euro on the pattern of currency invoicing. Our approach uses a compositional multinomial logit model, in which currency choice is explained by both currency-specific and country-specific determinants. We use...
Persistent link: https://www.econbiz.de/10013089132
Cover Image
Has the Euro Affected the Choice of Invoicing Currency?
Ligthart, Jenny E. - 2012
We present a new approach to study empirically the effect of the introduction of the euro on the pattern of currency invoicing. Our approach uses a compositional multinomial logit model, in which currency choice is explained by both currency-specific and country-specific determinants. We use...
Persistent link: https://www.econbiz.de/10013112497
Cover Image
Explaining Inflation Differentials between Spain and the Euro Area
Rabanal, Pau - 2007
This paper investigates the behavior of inflation differentials between Spain and the rest of the euro area member countries. Cross country studies of inflation differentials, and in particular in the EMU, have focused on three explanations: (i) the role of tradable and nontradable sector...
Persistent link: https://www.econbiz.de/10012728961
Cover Image
Inflation Differentials in a Currency Union : A DSGE Perspective
Rabanal, Pau - 2007
Cross country studies of inflation differentials, in particular in the EMU, have focused on three explanations: (i) the role of tradable and nontradable sector technology shocks and the Balassa-Samuelson effect, (ii) the role of the demand-side effects, and (iii) heterogeneity of inflationary...
Persistent link: https://www.econbiz.de/10014224411
Cover Image
Sixty years of global inflation : a post-GFC update
Auer, Raphael A.; Pedemonte, Mathieu; Schoenle, Raphael - 2024
Is inflation (still) a global phenomenon? We study the international co-movement of inflation based on a dynamic factor model and in a sample spanning up to 56 countries during the 1960-2023 period. Over the entire period, a first global factor explains approximately 58% of the variation in...
Persistent link: https://www.econbiz.de/10014551069
Cover Image
Excess Reserves and Macroeconomic Instability
Scaramozzino, Pasquale - 2010
This paper is concerned with international reserves. It makes two main points. Firstly, excess reserves cannot be regarded as a substitute for sound fundamentals because the former may destabilize the economic system in the longer term. Secondly, reserve accumulation financed by public debt can...
Persistent link: https://www.econbiz.de/10013139882