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policy shock. In contrast, our Monte Carlo VAR results replicate our evidence obtained with actual U.S. data. Hence, modest …
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model (VECM) was adopted as the estimation technique of the study. Findings show that there is no bidirectional granger … causality among any of the variables. Also, one standard deviation shock to M2 initially has positive perceptible effect on … causes output to decrease. One standard deviation shock to Bank Credit to the private sector (BCP) has a huge and negative …
Persistent link: https://www.econbiz.de/10014078028
The paper examines the effect of trend productivity growth on the determinacy and learnability of equilibria under alternative monetary policy rules. It shows that under a policy rule that responds to current period inflation and the output gap a higher trend growth rate relaxes the conditions...
Persistent link: https://www.econbiz.de/10009382996
The authors review the challenges that the Romanian economy and society had to face in the European and global geoeconomic context. Starting from the perspectives advanced by the international economic fora, the risks the European economy will have to answer through counteracting and general...
Persistent link: https://www.econbiz.de/10014464256
The objective of this paper was to analyse the relationship between inflation and economic growth in Burundi and to determine whether there is an inflation threshold or not to allow monetary authority to adopt the optimal policies to deal with shocks. With annual data from 1990 to 2020, the ARDL...
Persistent link: https://www.econbiz.de/10014500848
China monetary policy, as well as its transmission, is yet to be understood by researchers and policymakers. In the spirit of Taylor (1993, 2000), we develop a tractable framework that approximates practical monetary policy of China. The framework, grounded in relevant institutional elements,...
Persistent link: https://www.econbiz.de/10011536504
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