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New instruments for banking regulation and monetary policy after the crisis
Detzer, Daniel - 2012
This paper analyzes two instruments - asset-based reserve requirements put forward by Thomas Palley and asset-based capital requirements proposed by Charles Goodhart and Avinash Persaud - regarding their merits in reducing excessive asset price inflation. A theoretical framework of asset pricing...
Persistent link: https://www.econbiz.de/10009550219
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Shocks and Government Beliefs : The Rise and Fall of American Inflation
Sargent, Thomas J. - 2015
The authors use a Bayesian Markov chain Monte Carlo algorithm to estimate a model that allows temporary gaps between a true expectational Phillips curve and the monetary authority's approximating nonexpectational Phillips curve. A dynamic programming problem implies that the monetary authority's...
Persistent link: https://www.econbiz.de/10013032854
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Did the exchange rate interventions enhance inflation in Switzerland?
Žídek, Libor; Šuterová, Magdalena - 2017
intervention period. Using autoregressive models, they quantify the extent of pass-through of an exchange rate shock to different … intervention than from the precrisis period. The exchange rate effect on inflation was thus in a better accordance with theory … during the intervention period. As such, currency depreciation did have a positive effect on inflation in Switzerland. …
Persistent link: https://www.econbiz.de/10011751859
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Predicting inflation : a holistic approach
Avdiu, Kujtim; Unger, Stephan - In: Journal of risk and financial management : JRFM 15 (2022) 4, pp. 1-14
The quantity equation is a well-established, theoretic, long-run concept that has been criticized for a variety of reasons, i.e., that no precise statements about causality or dynamics between money growth and inflation can be inferred from its components. These shortcomings can be tackled by...
Persistent link: https://www.econbiz.de/10013168762
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Developing an underlying inflation gauge for China
Amstad, Marlene; Huan, Ye; Ma, Guonan - 2014
The headline consumer price index (CPI) is often considered too noisy, narrowly defined, and/or slowly available for policymaking. On the other hand, traditional core inflation measures may reduce volatility but do not address other issues and may even exclude important information. This paper...
Persistent link: https://www.econbiz.de/10010412468
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Taxonomy of global risk, uncertainty, and volatility measures
Datta, Deepa Dhume; Londono, Juan M.; Sun, Bo; Beltran, … - 2017
A large number of measures for monitoring risk and uncertainty surrounding macroeconomic and financial outcomes have been proposed in the literature, and these measures are frequently used by market participants, policy makers, and researchers in their analyses. However, risk and uncertainty...
Persistent link: https://www.econbiz.de/10011780277
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Developing an underlying inflation gauge for China
Amstad, Marlene; Huan, Ye; Ma, Guonan - 2014
The headline consumer price index (CPI) is often considered too noisy, narrowly defined, and/or slowly available for policymaking. On the other hand, traditional core inflation measures may reduce volatility but do not address other issues and may even exclude important information. This paper...
Persistent link: https://www.econbiz.de/10011420978
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Re-vitalizing money demand in the euro area : still valid at the zero lower bound
Dreger, Christian; Gerdesmeier, Dieter; Roffia, Barbara - 2016
The analysis of monetary developments have always been a cornerstone of the ECB’s monetaryanalysis and, thus, of its overall monetary policy strategy. In this respect, money demandmodels provide a framework for explaining monetary developments and assessing price stabilityover the medium term....
Persistent link: https://www.econbiz.de/10011532681
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The Impossible Trinity and Financial Markets – An Examination of Inflation Volatility Spillovers
Bosupeng, Mpho - 2015
According to studies on the impossible trinity, under conditions of high financial integration, the domestic interest rate is closely linked to the foreign one if the possibility of maneuvering interest rates is absent in this transaction. The Fisher effect is brought into this escapade because...
Persistent link: https://www.econbiz.de/10013015045
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Factors Behind Low Long-Term Interest Rates
Ahrend, Rudiger - 2006
Long-term bond yields have been low in recent years both in nominal and real terms, and . especially in the United States - they have reacted differently to shifts in monetary and fiscal stances relative to previous cycles. This article examines various possible explanations for this behaviour,...
Persistent link: https://www.econbiz.de/10012444335