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Moderate Inflation and the Deflation-Depression Link
Benhabib, Jess - 2007
In a recent paper, Atkeson and Kehoe (2004) demonstrated the lack of a robust empirical relationship between inflation … relationship by allowing for inflation and growth to have a nonlinear specification dependent on inflation levels. In particular …, we allow for the possibility that high inflation is negatively correlated with growth, while a positive relationship …
Persistent link: https://www.econbiz.de/10012729476
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The international experience with negative policy rates
Jackson, Harriet - 2015
A key issue in the renewal of the inflation-control agreement is the question of the appropriate level of the inflation … financial crisis, the effective lower bound (ELB) is more likely to be binding in the future if inflation targets remain at 2 … per cent. This has led some to argue that the inflation target should be raised to reduce the incidence of ELB episodes …
Persistent link: https://www.econbiz.de/10011384127
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Settlement balances deconstructed
Chu, Parnell; Johnson, Grahame; Kinnear, Scott; … - 2022
The concept of settlement balances is simple in its definition but complex when attempting to understand how they interplay between a central bank and the financial system. Settlement balances can be defined as interest-bearing deposits that belong to participants of Canada's payment system and...
Persistent link: https://www.econbiz.de/10013256950
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Central Banks and Climate Change : Mission Impossible?
Cullen, Jay - 2022
There is growing presumption that central banks have a significant role to play in addressing environmental challenges, especially climate change. This article explains, on the basis of both theoretical and empirical evidence, that attempting to use existing central bank powers to tackle climate...
Persistent link: https://www.econbiz.de/10014076535
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The Effects of Monetary Policy : A Meta-Analysis
De Grauwe, Paul; Costa Storti, Claudia - 2021
countries with high inflation, the output effects of monetary policies are significantly reduced. A lot of variation in the …
Persistent link: https://www.econbiz.de/10013319175
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The effects of monetary policy : a meta-analysis
De Grauwe, Paul; Costa, Cláudia - 2004
countries with high inflation, the output effects of monetary policies are significantly reduced. A lot of variation in the …
Persistent link: https://www.econbiz.de/10002176580
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The effects of monetary policy : a meta-analysis : presented at CESifo Area Conference on Macro, Money and International Finance, February 2004
De Grauwe, Paul; Costa, Cláudia - 2004
countries with high inflation, the output effects of monetary policies are significantly reduced. A lot of variation in the …
Persistent link: https://www.econbiz.de/10011449687
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A Bitcoin standard : lessons from the gold standard
Weber, Warren E. - 2016
This paper imagines a world in which countries are on the Bitcoin standard, a monetary system in which all media of exchange are Bitcoin or are backed by it. The paper explores the similarities and differences between the Bitcoin standard and the gold standard and describes the media of exchange...
Persistent link: https://www.econbiz.de/10011446194
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Tackling the Shadow Economy through Inflation and Access to Credit
Bansah, Marcus; Mohsin, Mohammed - 2023
How do changes in inflation and financial market development affect the size of the shadow economy? Previous studies … results suggest that, conditional on access to credit, a rise in inflation leads to a reduction in the size of the shadow …
Persistent link: https://www.econbiz.de/10014353678
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Can unconventional monetary policy contribute to climate action?
Eliet-Doillet, Alice; Maino, Andrea - 2022
This paper investigates the impact of central banks when supporting policies aiming at greening the financial system. The July 2021 Monetary Policy Strategy Review of the European Central Bank unexpectedly dedicated a whole workstream to climate change. The announcement had a significant effect...
Persistent link: https://www.econbiz.de/10013192095