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Quantifying the effects of the CNB's exchange rate commitment : a synthetic control method approach
Opatrny, Matej - 2016
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
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Impacts of Monetary Policy Rates on Interest and Inflation Rates
Anari, Ali - 2017
This paper extends previous research on how monetary policy rates impact interest and inflation rates. We develop and … steady state policy rate elasticities of inflation and interest rates are derived. Employing U.S. rate series and state space … econometric methods, we estimate time-varying coefficients of the augmented system model. Policy rate elasticities of inflation …
Persistent link: https://www.econbiz.de/10012941398
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Monetary-fiscal policy relations in the euro area : the impact on the primary balance
Dascher-Preising, Fabienne; Greiner, Alfred - 2022
With this paper, our objective is to empirically study public debt sustainability by estimating a fiscal reaction function where the primary balance relative to GDP is assumed to be a function of the public debt to GDP ratio of the previous year and of other macroeconomic variables. In...
Persistent link: https://www.econbiz.de/10013335018
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The Economic Impact of Central Bank Transparency : A Survey
van der Cruijsen, Carin - 2011
We provide an up-to-date overview of the literature on the desirability of central bank transparency from an economic viewpoint. Since the move towards more transparency, a lot of research on its effects has been carried out. First, we show how the theoretical literature has evolved, by looking...
Persistent link: https://www.econbiz.de/10012714495
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The impact of the European Monetary Union on inflation persistence in the Euro area
Meller, Barbara; Nautz, Dieter - 2009
monetary policy reduces the persistence of inflation. Taking into account the fractional integration of inflation, we confirm … that inflation dynamics differed considerably across Euro area countries before the start of EMU. Since 1999, however …, results obtained from panel estimation indicate that the degree of long run inflation persistence has converged. In line with …
Persistent link: https://www.econbiz.de/10003871762
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The impact of the European Monetary Union on inflation persistence in the euro area
Meller, Barbara; Nautz, Dieter - 2009
monetary policy reduces the persistence of inflation. Taking into account the fractional integration of inflation, we confirm … that inflation dynamics differed considerably across Euro area countries before the start of EMU. Since 1999, however …, results obtained from panel estimation indicate that the degree of long run inflation persistence has converged. In line with …
Persistent link: https://www.econbiz.de/10003875991
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Maintaining Low Inflation : Money, Interest Rates, and Policy Stance
Reynard, Samuel - 2021
qualitative and quantitative information on subsequent inflation. The usefulness of monetary analysis is contrasted to weaknesses … in modeling monetary policy and inflation with respectively short-term interest rates and real activity measures. The … analysis sheds light on the recent change in inflation volatility and persistence as well as on the Phillips curve flattening …
Persistent link: https://www.econbiz.de/10013317093
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Economic policy in India : for economic stimulus, or for austerity and volatility?
Sen, Sunanda; DasGupta, Zico - 2014
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
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Maintaining low inflation: money, interest rates, and policy stance
Reynard, Samuel - 2007
qualitative and quantitative information on subsequent inflation. The usefulness of monetary analysis is contrasted to weaknesses … in modeling monetary policy and inflation with respectively short-term interest rates and real activity measures. The … analysis sheds light on the recent change in inflation volatility and persistence as well as on the Phillips curve flattening …
Persistent link: https://www.econbiz.de/10011604802
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Quantifying the effects of the CNB's exchange rate commitment : a synthetic control method approach
Opatrny, Matej - In: Finance a úvěr 67 (2017) 6, pp. 539-577
Persistent link: https://www.econbiz.de/10011774606