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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
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Has inflation targeting been successful? : evidence from unit root tests
Turkay, Mesut; Sencer Atasoy, Burak - In: Investigación económica : revista de la Faculdad de … 78 (2019) 308, pp. 120-139
The popularity of inflation targeting has risen in the last decade and the number of countries that adopted inflation targeting as their monetary policy framework surpassed 40 by the end of 2016. This study analyzes whether inflation targeting around the world has been successful in terms of...
Persistent link: https://www.econbiz.de/10012016727
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Measuring effective monetary policy conservatism
Berlemann, Michael; Hielscher, Kai - 2009
According to the game-theoretic model of monetary policy, inflation is the consequence of time-inconsistent behavior of the monetary authority. The inflation bias can be eased by handing over the responsibility for monetary policy to an independent central bank and appointing a...
Persistent link: https://www.econbiz.de/10003806761
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Monetary policy, global liquidity and commodity price dynamics
Belke, Ansgar; Bordon, Ingo G.; Hendricks, Torben - 2010
This paper examines the interactions between money, interest rates, goods and commodity prices at a global level. For this purpose, we aggregate data for major OECD countries and follow the Johansen/Juselius cointegrated VAR approach. Our empirical model supports the view that, when controlling...
Persistent link: https://www.econbiz.de/10003931399
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Monetary policy, global liquidity and commodity price dynamics
Belke, Ansgar; Bordon, Ingo G.; Hendricks, Torben - 2010
This paper examines the interactions between money, interest rates, goods and commodity prices at a global level. For this purpose, we aggregate data for major OECD countries and follow the Johansen/Juselius cointegrated VAR approach. Our empirical model supports the view that, when controlling...
Persistent link: https://www.econbiz.de/10003934679
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The credibility of monetary policy announcements : empirical evidence for OECD countries since the 1960s
Belke, Ansgar; Freytag, Andreas; Keil, Jonas; … - 2011
Monetary policy rules have been considered as fundamental protection against inflation. However, empirical evidence for a correlation between rules and inflation is relatively weak. In this paper, we first discuss likely causes for this weak link and present the argument that monetary commitment...
Persistent link: https://www.econbiz.de/10009569729
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The credibility of monetary policy announcements : empirical evidence for OECD countries since the 1960s
Belke, Ansgar; Freytag, Andreas; Keil, Jonas; … - 2012
Monetary policy rules have been considered as fundamental protection against inflation. However, empirical evidence for a correlation between rules and inflation is relatively weak. In this paper, we first discuss likely causes for this weak link and present the argument that monetary commitment...
Persistent link: https://www.econbiz.de/10009579330
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The credibility of monetary policy announcements : empirical evidence for OECD countries since the 1960s
Belke, Ansgar; Freytag, Andreas; Keil, Jonas; … - 2012
Diese Arbeit untersucht den Einfluss der Glaubwürdigkeit von Geldpolitik auf die Preisstabilität. Eine regelgebundene … Geldpolitik wird häufig als ein wichtiges Instrument zur Erreichung von Preisstabilität angesehen. In empirischen Studien ist der … Zusammenhang zwischen einer regelgebundenen Geldpolitik und der Inflation jedoch häufig nur relativ schwach ausgeprägt. In der …
Persistent link: https://www.econbiz.de/10009580097
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The Credibility of Monetary Policy Announcements – Empirical Evidence for OECD Countries Since the 1960s
Belke, Ansgar Hubertus - 2012
Monetary policy rules have been considered as fundamental protection against inflation. However, empirical evidence for a correlation between rules and inflation is relatively weak. In this paper, we first discuss likely causes for this weak link and present the argument that monetary commitment...
Persistent link: https://www.econbiz.de/10013102702
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The Credibility of Monetary Policy Announcements : Empirical Evidence for OECD Countries Since the 1960s
Belke, Ansgar Hubertus - 2012
Monetary policy rules have been considered as fundamental protection against inflation. However, empirical evidence for a correlation between rules and inflation is relatively weak. In this paper, we first discuss likely causes for this weak link and present the argument that monetary commitment...
Persistent link: https://www.econbiz.de/10013103579