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Hyperinflation in Zimbabwe : Money Demand, Seigniorage and Aid Shocks

McIndoe Calder, Tara - 2010

Zimbabwe has recently experienced record hyperinflation of 80 billion percent a month. This paper uses new data from … Zimbabwe to investigate money demand under hyperinflation using an ARDL estimation for the period 1980-2008. The results … calculate the maximum level of seigniorage revenue that could be raised in the economy. Actual seigniorage levels increased …

Persistent link: https://www.econbiz.de/10013143318

Hyperinflation in Zimbabwe : money demand, seigniorage and aid shocks

McIndoe-Calder, Tara - In: Applied economics 50 (2018) 15, pp. 1659-1675

Persistent link: https://www.econbiz.de/10011848833

The macroeconomic effects of different CBDC regimes in an economy with a heterogeneous household sector

Magin, Jana Anjali; Neyer, Ulrike; Stempel, Daniel - 2023

Many central banks discuss the introduction of a Central Bank Digital Currency (CBDC). Empirical evidence suggests that households may differ in their willingness to hold CBDC. Against this background, this paper investigates the macroeconomic effects of different CBDC regimes in a New Keynesian...

Persistent link: https://www.econbiz.de/10014229087

US Monetary Policy Spillovers and Spillbacks

Thomas, Lina - 2023

I study spillovers of US monetary policy to the rest of the world, as well as spillbacks to the US economy in an empirical multi-country model over time. Within the multilateral framework, I distinguish the bilateral effect from the network effects that arise from interactions among recipient...

Persistent link: https://www.econbiz.de/10014256990

The welfare cost of inflation with banking time

Gillman, Max - 2018

The paper presents the welfare cost of inflation in a banking time economy that models exchange credit through a bank production approach. The estimate of welfare cost uses fundamental parameters of utility and production technologies. It is compared to a cash-only economy, and a Lucas (2000)...

Persistent link: https://www.econbiz.de/10012012509

Relative Price Shocks, Inflation Expectations, and the Role of Monetary Policy

Siklos, Pierre L. - 2009

The aim of this paper is to rely on a wide variety of forecasts and survey based estimates of inflationary expectations since the early 1990s for a group of 9 economies, 5 of which explicitly target inflation, and ask: To what extent are disagreements over forecasts of inflation driven by...

Persistent link: https://www.econbiz.de/10013156550

Inflation Past, Present and Future : Fiscal Shocks, Fed Response, and Fiscal Limits

Cochrane, John H. - National Bureau of Economic Research - 2022

Our current inflation stemmed from a fiscal shock. The Fed is slow to react. Why? Will the Fed's slow reaction spur more inflation? I write a simple model that encompasses the Fed's mild projections and its slow reaction, and traditional views that inflation will surge without swift rate rises....

Persistent link: https://www.econbiz.de/10013210124

Does Monetary Policy Matter? The Narrative Approach after 35 Years

Romer, Christina; Romer, David - National Bureau of Economic Research - 2023

The narrative approach to macroeconomic identification uses qualitative sources, such as newspapers or government records, to provide information that can help establish causal relationships. This paper discusses the requirements for rigorous narrative analysis using fresh research on the impact...

Persistent link: https://www.econbiz.de/10014250187

Looking through supply shocks versus controlling inflation expectations : understanding the Central Bank dilemma

Beaudry, Paul; Carter, Thomas J.; Lahiri, Amartya - 2022 - Last updated: September 20, 2022

Central banks in most advanced economies have reacted similarly to the increase in inflation that started in 2021. They initially looked through the rising inflation by leaving monetary policy relatively unchanged. Then, after inflation continued to increase, central banks pivoted by quickly...

Persistent link: https://www.econbiz.de/10013370504

Money Shocks and Output : A Contemporary Money Demand Approach

YILMAZKUDAY, HAKAN - 2010

We analyze the short-run effects of money shocks on output in the contemporary world. As our benchmark case, we visit Bernanke (1983) for the Turkish economy over the monthly period 2002M1-2006M10. We show that money shocks affect output with a lag of one month. After that, we introduce our...

Persistent link: https://www.econbiz.de/10014223976

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