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Markups as a hedge for input price uncertainty: evidence from Sweden
Agrawal, Sneha; Gaurav, Abhishek; Suveg, Melinda - 2021
In this paper, we study a new channel to explain firms' price setting behavior. We propose that uncertainty about factor prices has a positive effect on markups. We show theoretically that firms with higher shares of inputs with volatile prices set higher markups. We use the Bartik shift-share...
Persistent link: https://www.econbiz.de/10012695355
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Inflation Volatility in Small and Large Advanced Open Economies
Balatti, Mirco - 2020
Inflation volatility is clearly important for structural analysis, forecasting and policy purposes, yet it is often overlooked in the literature. This paper compares inflation volatility among advanced open economies with inflation targeting monetary policy frameworks. The results of the...
Persistent link: https://www.econbiz.de/10012827759
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Inflation volatility in small and large advanced open economies
Mozzanica, Mirco Balatti - 2020
Inflation volatility is clearly important for structural analysis, forecasting and policy purposes, yet it is often overlooked in the literature. This paper compares in ation volatility among advanced open economies with in ation targeting monetary policy frameworks. The results of the empirical...
Persistent link: https://www.econbiz.de/10012249671
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Limited Participation, Nominal Volatility, and Risk Sharing : Monetary Union and Financial Development
Gaytan, Alejandro - 2006
This paper explores the effects of nominal volatility and limited participation in asset markets on the risk sharing possibilities available to agents. When the set of financial assets is a decision of agents and is constrained by the resources available for investment, limited participation and...
Persistent link: https://www.econbiz.de/10014058402
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Re-evaluating Swedish membership in EMU : evidence from an estimated model
Söderström, Ulf - 2008
I revisit the potential costs and benefits for Sweden of joining the Economic and Monetary Union (EMU) of the European … inflation and GDP growth might have been slightly higher if Sweden had been a member of EMU since the launch in 1999, but also … in the monetary union would be advantageous for Sweden. -- DSGE model ; Monetary union ; Open economy ; Optimum Currency …
Persistent link: https://www.econbiz.de/10003793441
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Re-Evaluating Swedish Membership in EMU : Evidence from an Estimated Model
Söderström, Ulf - 2013
I revisit the potential costs and benefits for Sweden of joining the Economic and Monetary Union (EMU) of the European … inflation and GDP growth might have been slightly higher if Sweden had been a member of EMU since the launch in 1999, but also … in the monetary union would be advantageous for Sweden …
Persistent link: https://www.econbiz.de/10013095591
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Time-Varying Exchange Rate Pass-Through : Experiences of Some Industrial Countries
Sekine, Toshitaka - 2013
This paper estimates exchange rate pass-through of six major industrial countries using a time-varying parameter with stochastic volatility model. Exchange rate pass-through is divided into impacts of exchange rate fluctuations to import prices (first-stage pass-through) and those of import...
Persistent link: https://www.econbiz.de/10012711746
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Monetary policy committee size and inflation volatility
Erhart, Szilárd; Lehment, Harmen; Vasquez-Paz, Jose Luis - 2007
Previous research on the optimal size of a monetary policy committee (MPC) focused on theoretical analyses and experimental studies. These studies suggest that the ideal monetary policy committee may not have many more than five members. In this paper we conduct an empirical cross-country study...
Persistent link: https://www.econbiz.de/10010276919
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Central bank transparency and inflation (volatility) : new evidence
Weber, Christoph S. - 2016
The last decades have shown a tendency towards higher central bank transparency. It became customary for central bankers to explain their monetary policy decisions in detail and for them to publish inflation forecasts. This leads to the question of how central bank transparency is entangled with...
Persistent link: https://www.econbiz.de/10011525911
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The price of BitCoin : GARCH evidence from high frequency data
Ciaian, Pavel; Kancs, D'Artis; Rajcaniova, Miroslava - 2018
This is the first paper that estimates the price determinants of BitCoin in a Generalised Autoregressive Conditional Heteroscedasticity framework using high frequency data. Derived from a theoretical model, we estimate BitCoin transaction demand and speculative demand equations in a GARCH...
Persistent link: https://www.econbiz.de/10011948479