Showing 1 - 10 of 5,971
This study sought to identify the traditional and institutional inflation variables responsible for inflation … year. The study therefore concluded that inflation in Nigeria, during the studied period, was driven by the pass-through of … import prices to domestic prices via markup pricing by firms. This was aided by domestic inflation persistence. It is …
Persistent link: https://www.econbiz.de/10011661500
During the recent inflation episode, the paradigm of separated objectives for monetary and fiscal policies has shown … some limits. Fiscal policies have helped mitigate inflation. We advocate for the emergence of a new paradigm that gives …
Persistent link: https://www.econbiz.de/10014502431
This paper contributes to a deeper understanding of macroeconomic outcomes to financial market disturbances and the central bank’s role in financial stability, by using Bayesian VAR (BVAR) models. We document that a shock that increases credit to non-financial sector leads to a persistent...
Persistent link: https://www.econbiz.de/10013217405
shocks and uncertainty about the central banker's and the medianvoter's inflation target. A contract which is based on self …-imposed monetary target announcements proves to be superior to the best monetary rule if conflicts about the inflation target within …-imposed targets depends on the type of conflict within society, whether the individuals disagree on the weight of the inflation versus …
Persistent link: https://www.econbiz.de/10009743270
This study attempts to evaluate the impact of an increase in banks' funding stress and its transmission to the real economy, taking into account different funding sources banks can rely on. Using aggregate data from eight Euro area financial systems, we find that following a liquidity funding...
Persistent link: https://www.econbiz.de/10012004718
I study the role of firm heterogeneity for the transmission of unconventional monetary policy in the form of "credit policy" à la Gertler and Karadi (2011). To this end, I lay out a Two-Agent New-Keynesian model with financially constrained and unconstrained firms and a financial intermediary...
Persistent link: https://www.econbiz.de/10014234463
This paper contributes to a fuller understanding of macroeconomic outcomes to financial market disturbances and the central bank’s role in financial stability. Our two major contributions are conceptual and econometric. Conceptually, we introduce phases of the business cycle and...
Persistent link: https://www.econbiz.de/10014254292
rate both matter for determining inflation and economic activity. …
Persistent link: https://www.econbiz.de/10012584354
We assess the effects of financial shocks on inflation, and to what extent financial shocks can account for the … shocks through sign restrictions. Our main finding is that expansionary financial shocks temporarily lower inflation. This … during the latest financial crisis. We then explore the transmission channels of financial shocks relevant for inflation, and …
Persistent link: https://www.econbiz.de/10011546785
management of short-run inflation. (2) The CEMAC region is more inclined to non-traditional policy regimes while the UEMOA zone …
Persistent link: https://www.econbiz.de/10011409990