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Inflation and hyperinflation in Venezuela (1970s-2016) : a post-Keynesian interpretation
Kulesza, Marta - 2017
This paper aims to explain the causes of rapidly increasing prices in Venezuela and establish whether the current episode can be considered to be of hyperinflationary nature from the post-Keynesian theoretical approach. The chosen approach highlights the role of distributive conflict, indexation...
Persistent link: https://www.econbiz.de/10011747158
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Triangular no-arbitrage estimation through bitcoin : an application in Venezuelan Bolivars
Wang, Jying-Nan; Hsu, Yuan-Teng; Chen, Chih-Chun - In: Asia-Pacific journal of financial studies 47 (2018) 4, pp. 529-545
Persistent link: https://www.econbiz.de/10012009564
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Seigniorage, (Hyper)Inflation and Money Demand in Venezuela in the XXI Century : A First Estimation Attempt
Saboin, Jose Luis - 2018
The present work estimates collected seigniorage levels in the Venezuelan economy from 1994Q1 to 2018Q2 and tries to … that the seigniorage-maximizing rate of inflation of the Venezuelan economy occurred around the first quarter of 2016 at a … public sector in the economy through a series of interventions, has managed to expropriate an important part of the …
Persistent link: https://www.econbiz.de/10012906561
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Sovereign default risk and banks in a monetary union
Uhlig, Harald - 2013 - This revision: August 12, 2013
This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank, and that their sovereign partially backs up any...
Persistent link: https://www.econbiz.de/10009786077
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Sovereign Default Risk and Banks in a Monetary Union
Uhlig, Harald - 2013
This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank, and that their sovereign partially backs up any...
Persistent link: https://www.econbiz.de/10013076729
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Determinants of Exchange Rate Fluctuations for Venezuela : Application of an Extended Mundell-Fleming Model
Hsing, Yu - 2008
Applying and extending the Mundell-Fleming model, this study attempts to examine the behavior of short-term real exchange rates for Venezuela. It finds that the real effective exchange rate is positively associated with real government deficit spending and negatively influenced by real M2, the...
Persistent link: https://www.econbiz.de/10014215505
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Anatomy of policy complementarities
Orszag, Jonathan Michael; Snower, Dennis J. - 1999
The analysis provides a new explanation for two widespread problems concerning European unemployment policy: the disappointingly small effect of many past reform measures on unemployment, and the political difficulties in implementing more extensive reform programs. We argue that the heart of...
Persistent link: https://www.econbiz.de/10011295418
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Fiscal Sustainability with Non-Renewable Resources
Chalk, Nigel - 2014
This paper assesses sustainable fiscal behavior in an economy where wealth is derived predominantly from a non …
Persistent link: https://www.econbiz.de/10012752400
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2020 US neutral rate assessment
Bootsma, James; Carter, Thomas J.; Chen, Xin Scott; … - 2020
This paper presents Bank of Canada staff's current assessment of the US neutral rate, along with a newly developed set of models on which that assessment is based. The overall assessment is that the US neutral rate currently lies in a range of 1.75 to 2.75 percent. This represents a decline of...
Persistent link: https://www.econbiz.de/10012319158
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A horse race of alternative monetary policy regimes under bounded rationality
Wagner, Joel; Schlanger, Tudor; Zhang, Yang - 2022
We introduce bounded rationality, along the lines of Gabaix (2020), in a canonical New Keynesian model calibrated to match Canadian macroeconomic data since Canada's adoption of inflation targeting. We use the model to provide a quantitative assessment of the macroeconomic impact of flexible...
Persistent link: https://www.econbiz.de/10013161512