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Has the Asymmetric Effect of Oil Price Volatility in Inflation Expectations Been Impacted by the COVID-19 Outbreak? A Comparison between the United States and China
2022
This paper applies ARDL and Nonlinear ARDL models to long-term inflation targeting policy mechanisms in the United States and China to assess the impact of oil price dynamics and asymmetries on inflation expectations in the two countries, as well as the difference of this impact before and after...
Persistent link: https://www.econbiz.de/10013289383
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Domestic money and US output and inflation
Aksoy, Yunus; Piskorski, Tomasz - 2001 - This version: August 2001
Recent empirical research found that the strong short-term relationship between monetary aggregates and US real output and inflation, as outlined in the classical study by M. Friedman and Schwartz, mostly disappeared since the early 1980s. In the light of the B. Friedman and Kuttner (1992)...
Persistent link: https://www.econbiz.de/10009767691
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U.S. Domestic Money, Inflation and Output
Aksoy, Yunus - 2011
Recent empirical research documents that the strong short-term relationship between U.S. monetary aggregates on one side and inflation and real output on the other has mostly disappeared since the early 1980s. Using the direct estimate of flows of U.S. dollars abroad we find that domestic money...
Persistent link: https://www.econbiz.de/10013133240
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U.S. Domestic Money, Inflation and Output
Aksoy, Yunus; Piskorski, Tomasz - 2014
Recent empirical research found that the strong short-term relationship between monetary aggregates and US real output and inflation, as outlined in the classical study by M. Friedman and Schwartz, mostly disappeared since the early 1980s. In the light of the B. Friedman and Kuttner (1992)...
Persistent link: https://www.econbiz.de/10014123689
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U.S. Domestic Money, Inflation and Output
Aksoy, Yunus; Piskorski, Tomasz - 2014
Recent empirical research documents that the strong short-term relationship between U.S. monetary aggregates on one side and inflation and real output on the other has mostly disappeared since the early 1980s. Using the direct estimate of flows of USD abroad we find that domestic money (currency...
Persistent link: https://www.econbiz.de/10014050819
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Monetary policies and low-frequency manifestations of the quantity theory
Sargent, Thomas J.; Surico, Paolo - 2008
To detect the quantity theory of money, we follow Lucas (1980) by looking at scatter plots of filtered time series of inflation and money growth rates and interest rates and money growth rates. Like Whiteman (1984), we relate those scatter plots to sums of two-sided distributed lag coefficients...
Persistent link: https://www.econbiz.de/10003803334
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US Domestic Currency in Forecast Error Variance Decompositions of Inflation and Output
Aksoy, Yunus - 2014
We find that domestic currency, currency corrected for foreign holdings, has a substantial share in forecast error variance decomposition of US inflation. We also find that domestic currency has higher share of the forecast error variance decomposition of US real output than any other narrow...
Persistent link: https://www.econbiz.de/10013056801
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The Impact of Macroeconomic News on US Interest Rates and Stock Indices Conditional on Their Volatility
Lubochinsky, Catherine - 2012
"low" and "high" volatility periods. These periods are determined by estimating asset dynamics using a SWARCH process. Our … results suggest that securities volatility is higher during periods of financial or economic instability. We use these results … to evaluate the impact of news during "low" and "high" volatility periods using a GARCH model. News effects, especially …
Persistent link: https://www.econbiz.de/10013108222
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Innocent bystanders? : monetary policy and inequality in the US
Coibion, Olivier; Gorodnichenko, Yuriy; Küng, Lorenz; … - 2012
We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures....
Persistent link: https://www.econbiz.de/10009548662
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Agency costs and investment behavior
Dorofeenko, Viktor; Lee, Gabriel S.; Salyer, Kevin Duff - 2005
How do differences in the creit channel affect investment behavior in the U.S. and the Euro area? To analyze this question, we calibrate an agency cost model of business cycles. We focus on two key components of the lending channel, the default premium associated with bank loans and bankruptcy...
Persistent link: https://www.econbiz.de/10009730390