Showing 1 - 10 of 2,179
This paper examines inflation dynamics in the current EU-accession countries in central and eastern Europe, focusing … particularly on the determinants of "dual inflation", that is, diverging inflation rates for tradable and non-tradable goods. The …, indeed, finds evidence of "dual inflation" in these economies. To test empirically for underlying determinants, the paper …
Persistent link: https://www.econbiz.de/10013320246
deliver the lowest welfare loss. Under the assumptions taken, the strict inflation-targeting regime is identified as the best …
Persistent link: https://www.econbiz.de/10013081050
According to theory, inflation persistence should have less variance across countries under pegged than floating … allowing for the upward bias to persistence estimates created by shifts in mean inflation, the paper finds persistence has a … accommodative of inflation under floating rates, most probably because of the shifts in monetary policy rather than those in …
Persistent link: https://www.econbiz.de/10013317698
This paper studies the changing characteristics of post-war international comovement under fixed and flexible exchange regimes. I find that business cycle comovement among all the G7 economies was highest in the universally flexible exchange rate era following the collapse of Bretton Woods (BW)...
Persistent link: https://www.econbiz.de/10014029623
The novelty of this work is in the presentation of a theoretical framework that allows the modeling of an announced switch of the monetary regime. In our experiment, the monetary authority announces stabilization of the nominal exchange rate after the announced number of periods. We analyze the...
Persistent link: https://www.econbiz.de/10013095584
optimal path in terms of deeper parameters, such as the slope of the Phillips curve and the degree of openness. The rules for …
Persistent link: https://www.econbiz.de/10011691590
responds to inflation and output volatility, especially during economic crises. This framework offers a promising alternative …
Persistent link: https://www.econbiz.de/10014538995
An important body of literature explores the political economy reasons underlying delays in macroeconomic stabilization. This paper develops a framework to analyze conflict between two groups of economic actors, one that has an endowment of internationally tradable goods and another that is...
Persistent link: https://www.econbiz.de/10014529854
The article develops a stylized medium-run post-Kaleckian open economy model with conflict inflation and combines two … demand, growth, trade balance, and inflation are generally ambiguous and highly contingent on the parameter constellation of …
Persistent link: https://www.econbiz.de/10015050162
This paper attempts to assess the compatibility of China with its present dollar-based exchange rate policies. Assessment is made in terms of the real convergence criteria suggested by the optimum currency areas (OCA) theory and the nominal convergence criteria specified by the Maastricht...
Persistent link: https://www.econbiz.de/10013138896