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The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...
Persistent link: https://www.econbiz.de/10010385761
The economic characteristics of the COVID-19 crisis differ from those of previous crises. It is a combination of demand- and supply-side constraints which led to the formation of a monetary overhang that will be unfrozen once the pandemic ends. Monetary policy must take this effect into...
Persistent link: https://www.econbiz.de/10012592174
The paper contributes to understanding the economic dynamics at the zero lower bound and the exchange rate movements under different central bank intervention regimes. It provides a theoretical framework for modeling foreign exchange interventions at the ZLB within a dynamic general equilibrium...
Persistent link: https://www.econbiz.de/10010532424
Exchange Rate is one of the most important factor for any economic growth of any country, it has direct effect on international trade. The present study investigates the impact of macroeconomic factors (Current Account Deficit (CAD), Import, Export and Purchasing Power Parity (PPP)) on Exchange...
Persistent link: https://www.econbiz.de/10012931463
situation helps to explain the surge in the country's inflation and its very high growth in financial condition from late 2007 …
Persistent link: https://www.econbiz.de/10008826302
We construct an empirical test of whether the anticipation of adoption of inflation targeting affects the inflation … rate. We observe that most of the central banks adopt the regime after first achieving significant disinflation. With pre-inflation …-in-difference framework. We find that inflation targeting is successful in locking-in already low inflation rather than reducing high …
Persistent link: https://www.econbiz.de/10014364299
This paper analyses the effects of the foreign exchange re-serves accumulation on the key nominal and real macroeconomicvariables (GDP, employment, prices and exchange rates) in BRICcountries (Brazil, Russia, India, China). VAR model was used toempirically examine the effect of accumulation of...
Persistent link: https://www.econbiz.de/10014566381
appreciating that were put in place in 2013. I focus its on the impact on output, unemployment, and inflation. I use the synthetic … connected to disturbances created by changes in excise taxes. The effect of the commitment on inflation is positive but not …
Persistent link: https://www.econbiz.de/10011515767
Macroprudential policy has gained prominence for promoting financial stability. In this paper, we assess the effectiveness of macroprudential policy in reducing credit growth over a 22-year period across 129 countries. Additionally, we investigate the interaction between macroprudential policy,...
Persistent link: https://www.econbiz.de/10014496532
authors examine the exchange rate influence on the inflation in Switzerland, separately for the pre-crisis and the …-through into inflation. Despite the effect's moderate influence, the decline was not immediate. The authors additionally analysed … intervention than from the precrisis period. The exchange rate effect on inflation was thus in a better accordance with theory …
Persistent link: https://www.econbiz.de/10011751859