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Commodities and monetary policy : implications for inflation and price level targeting

Coletti, Donald; Lalonde, René; Masson, Paul R.; Muir, Dirk - 2012

We examine the relative ability of simple inflation targeting (IT) and price level targeting (PLT) monetary policy rules to minimize both inflation variability and business cycle fluctuations in Canada for shocks that have important consequences for global commodity prices. We find that...

Persistent link: https://www.econbiz.de/10009546871

On Nonlinear Effects of Inflation Across Countries

He, Chao - 2018

Many emerging market economies have a higher tolerance for inflation than industrialized economies. Recent empirical studies find nonlinear effects of inflation and that the threshold rate is higher for emerging countries. Motivated by the fact that emerging countries have higher business costs,...

Persistent link: https://www.econbiz.de/10012906590

Economics of Intellectual Capital (6) : Global Reserve Assets as a Solution to the Monetary Trilemma under Intertemporal Trade

Ziesemann, Cyndia - 2023

The antecedent studies have designed new funding with the intellectual capital money (IKM) upon trading the intellectual capital (IK) to ensure unimpeded access to it and spur its generation and exploitation. This piece examines the static and dynamic behavior of IKM in an open economy. The...

Persistent link: https://www.econbiz.de/10014346507

Does low inflation pose a risk to economic growth and central banks reputation?

Dąbrowski, Marek - 2020

Inflation in advanced economies is low by historical standards but there is no threat of deflation. Slower economic growth is caused by supply-side constraints rather than low inflation. Below-the-target inflation does not damage the reputation of central banks. Thus, central banks should not...

Persistent link: https://www.econbiz.de/10012230450

The COVID-19 Pandemic : Is Now the Time for Modern Monetary Theory or Permanent Monetary Finance?

Schlotmann, Olaf - 2020

debt. The idea that the government sells bonds to the central bank also play a key role in Modern Monetary Theory (MMT) and …, using MMT's own balances sheet analysis, that the theory is almost always contradicted by the actual workings of the modern … reserves to banks through borrowing in the bonds markets, which in its theory leads to a change in short-term interest rates …

Persistent link: https://www.econbiz.de/10012833335

Ups and Downs. Central Bank Independence from the Great Inflation to the Great Recession : Theory, Institutions and Empirics

Masciandaro, Donato - 2016

This paper analyzes the pillar of modern central bank governance, i.e. central bank independence, highlighting three contributions. First, we provide a systematic review of the economics of central bank independence. Second, using a principal agent model we design a political economy framework,...

Persistent link: https://www.econbiz.de/10013004944

Populism, Financial Inequality and Central Bank Independence : A Political Economics Approach

Masciandaro, Donato - 2018

This paper examines myopic, populist policies that guarantee short-term financial protection of the people from the elite without regard for long-term fiscal or monetary distortions. Assuming that citizens are financially heterogeneous, this paper shows that inefficient outcomes can arise when...

Persistent link: https://www.econbiz.de/10012922659

Unconventional Economic Policies and Sentiment : An International Assessment

Gagnon, Marie-Hélène - 2019

This paper estimates, using structural VARs, the spillover effects of unconventional fiscal and monetary policies implemented in the United States and in the Eurozone during the last decade. Consumer confidence and investor sentiment indicators are introduced in the models in order to highlight...

Persistent link: https://www.econbiz.de/10012899115

The Implications of Liquidity Expansion in China for the US Dollar

Kang, Wensheng - 2016

The value of the US dollar is of major importance to the world economy. Global liquidity has grown sharply in recent years with growing importance of China's money supply to global liquidity. We develop out-of-sample forecasts of the US dollar exchange rate value using US and non-US global data...

Persistent link: https://www.econbiz.de/10013000233

The Implications of Liquidity Expansion in China for the Us Dollar

Kang, Wensheng - 2017

Persistent link: https://www.econbiz.de/10012970151

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