Showing 1 - 10 of 29
Persistent link: https://www.econbiz.de/10001677876
Recent research suggests that the pass-through of exchange rate changes into domestic inflation has declined in many countries since the 1980s. We develop a theoretical model that attributes the change in pass-through (defined as the correlation of inflation with exchange rate changes) to...
Persistent link: https://www.econbiz.de/10014126429
This paper explores the effects of unconventional monetary and exchange rate policies. We find that official foreign asset purchases have large effects on current accounts that diminish as capital mobility rises and spill over to financially integrated countries. There is an additional effect...
Persistent link: https://www.econbiz.de/10012956495
Persistent link: https://www.econbiz.de/10011539482
Persistent link: https://www.econbiz.de/10011969576
This paper explores the effects of unconventional monetary and exchange rate policies. We find that official foreign asset purchases have large effects on current accounts that diminish as capital mobility rises and spill over to financially integrated countries. There is an additional effect...
Persistent link: https://www.econbiz.de/10011716719
Persistent link: https://www.econbiz.de/10011553521
Persistent link: https://www.econbiz.de/10011804327
The Phillips curve, which traces out a negative relationship between inflation and unemployment, has undergone tremendous changes over more than 100 years. Some researchers argue that the slope of the curve in the United States fell substantially around 20 years ago so that unemployment now has...
Persistent link: https://www.econbiz.de/10012849672
This paper shows that the scope for bond yields to fall below zero is strictly limited by market expectations about how far below zero central banks are willing to set their short-term policy rates. If a central bank communicates a credible commitment to keeping its policy rate above a given...
Persistent link: https://www.econbiz.de/10012842322