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We empirically characterize episodes of large inflation surges that have been observed worldwide in the last three … decades. We document four facts. (1) Inflation following surges tends to be persistent, with the duration of disinflation … exceeding that of the initial inflation increase. (2) Surges are initially unexpected but followed by a gradual catch-up of …
Persistent link: https://www.econbiz.de/10013435117
inflation, trade flows, capital inflow, capital account transactions, reserve accumulation, global liquidity (e.g., global broad … money), and monetary aggregates, with regard to Indonesia's GDP variables and inflation. This paper uses threshold vector … identified two groups of upper regime and lower regime world variables-namely, world inflation, world GDP, and world commodity …
Persistent link: https://www.econbiz.de/10012799838
for the economy-inflation and devaluation. The purpose of the research is to analyze the socio-economic results of … inflation and devaluation in Georgia and to determine the main directions to overcome it. Due to study purposes was investigated … the causes of inflation and devaluation, as well as was examined its influence on economic development of the country and …
Persistent link: https://www.econbiz.de/10012835155
Economists generally accept the proposition that high and volatile inflation rates generate inefficiencies that reduce … society's welfare. Furthermore, studies have shown that inflation is harmful to economic growth. However, determining the … higher inflation levels and volatility. Not only does this paper advance the political economy literature establishing a …
Persistent link: https://www.econbiz.de/10014074634
Economists generally accept the proposition that high inflation rates generate inefficiencies that reduce society … higher degree of political instability is associated with higher inflation. The paper also draws relevant policy implications … for the optimal design of inflation-stabilization programs and of the institutions favorable to price stability …
Persistent link: https://www.econbiz.de/10013318074
Economists generally accept the proposition that high inflation rates generate inefficiencies that reduce society … higher degree of political instability is associated with higher inflation. The paper also draws relevant policy implications … for the optimal design of inflation stabilization programs and of the institutions favorable to price stability …
Persistent link: https://www.econbiz.de/10014055638
(and other) policy tools. Full Publication: 'http://ssrn.com/abstract=2870167' Inflation Mechanisms, Expectations and …
Persistent link: https://www.econbiz.de/10012978985
In light of persistently large net foreign liability (NFL) positions in several euro area countries, we analyse 138 episodes of sizeable NFL reductions for a broad sample of advanced and emerging economies. We provide stylised facts on the channels through which NFLs were reduced and estimate...
Persistent link: https://www.econbiz.de/10011659341
The purpose of this paper is to analyse whether fiscal policies can alleviate the effects of the zero lower bound (ZLB) on interest rates and if they should be coordinated internationally. The analysis is carried out using EAGLE, a DSGE model of the global economy. We consider that the fiscal...
Persistent link: https://www.econbiz.de/10011605300
The purpose of this paper is to analyse whether fiscal policies can alleviate the effects of the zero lower bound (ZLB) on interest rates and if they should be coordinated internationally. The analysis is carried out using EAGLE, a DSGE model of the global economy. We consider that the fiscal...
Persistent link: https://www.econbiz.de/10008688538