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Using panel data models, we analyze the flypaper effects-whether intergovernmental fiscal transfers or states' own income determine expenditure commitments - on ecological fiscal spending in India. The econometric results show that the unconditional fiscal transfers, rather than the states' own...
Persistent link: https://www.econbiz.de/10012596963
variables, such as core inflation, the growth of industrial production, the percentage change in the equity price index, and the … influence on the long-term swap yield in some periods but not in other periods in which core inflation exerts a marked influence …
Persistent link: https://www.econbiz.de/10014282741
variables, such as consumer price inflation, the growth of industrial production, the stock price index, the exchange rate of …
Persistent link: https://www.econbiz.de/10014517317
foster renewed economic growth and prosperity. Paul Krugman (1998a, b) and Ben Bernanke (2000; 2002) identify low inflation … sustained monetary easing as the key to reigniting inflation, creating an exit from a liquidity trap through low interest rates …
Persistent link: https://www.econbiz.de/10011453035
The recent global financial crisis has led central banks to rely heavily on "unconventional" monetary policies. This alternative approach to policy has generated much discussion and a heated and at times confusing debate. The debate has been complicated by the use of different definitions and...
Persistent link: https://www.econbiz.de/10013153793
One of the most important questions facing the Federal Reserve (Fed) is also one of the hardest for it to answer: What is the current stance of monetary policy? The answer to this question is straightforward in theory, but is quite challenging to apply in practice. Despite many valiant efforts...
Persistent link: https://www.econbiz.de/10012822645
This paper relates Keynes's discussions of money, the state theory of money, financial markets, investors' expectations, uncertainty, and liquidity preference to the dynamics of government bond yields for countries with monetary sovereignty. Keynes argued that the central bank can influence the...
Persistent link: https://www.econbiz.de/10012317613
The recent global financial crisis has led central banks to rely heavily on "unconventional" monetary policies. This alternative approach to policy has generated much discussion and a heated and at times confusing debate. The debate has been complicated by the use of different definitions and...
Persistent link: https://www.econbiz.de/10013095177
(Applied Financial Economics, 13, 693-700, 2003) on inflation and output on stock returns and volatility is extended by … inflation, output growth, and interest rate, has weak predictor power on stock market volatility and returns. In line with the …
Persistent link: https://www.econbiz.de/10013143522
selection approach, the study interacts money supply, interest rate, economic growth, and inflation rate, among themselves and … inflation rate as the impact factor. On the basis of the above findings and the evidence from other studies, lending and … inflation rate generated substantial destabilizing impacts on the economic growth, suggesting that the monetary authorities …
Persistent link: https://www.econbiz.de/10012062559