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We test whether political instability affects central bank independence in developing countries. Both a legal measure … and the turnover tate of central bank governors are used as proxies for central bank independence and the frequency of … government transfers is used to proxy political instability. Only the number of coups affects the turnover rate of central bank …
Persistent link: https://www.econbiz.de/10009208189
This course will focus on the environment of firms with particular emphasis on economic variables such as GNP, inflation, interest rates, exchange rates and international trade. The course is divided into five parts: The first presents the basic tools of macroeconomic management by focusing on...
Persistent link: https://www.econbiz.de/10009433297
In this paper, the author empirically assesses the predictive power of short-term interest rates and term spreads for future inflation in Germany. Based on a multivariate term structure framework, a vector error forecasting equation for inflation forecasts of up to two years is constructed. The...
Persistent link: https://www.econbiz.de/10013370011
, central banks attempted to quell it by aggressively hiking interest rates. Today, it’s received wisdom that this policy ‘works …
Persistent link: https://www.econbiz.de/10014000534
In July 2022, the ECB started to gradually increase the key interest rate in order to bring the increased inflation back into the target corridor. An increase in the cost of capital for countries and companies could be observed much earlier. This increase of cost was more significantly caused by...
Persistent link: https://www.econbiz.de/10014001224
If you’re just tuning in, I’ve spent the last few months debunking some common misconceptions about inflation: Is inflation a uniform increase in prices? No. Inflation is wildly differential. Is inflation driven by an ‘over-heated’ economy? No. Inflation tends to come with economic...
Persistent link: https://www.econbiz.de/10014280676
spending and the reconstruction of Ukraine are central to this. These will increase demand for raw materials and labor, which … interest rates. It is possible that the European Central Bank (ECB) will have to slow economic activity or even initiate a …
Persistent link: https://www.econbiz.de/10014433206
We analyze if and to what extent fundamental macroeconomic factors, temporary influences or more structural factors have contributed to the low levels of US bond yields over the last few years. For that purpose, we start with a general model of interest rate determination. The empirical part...
Persistent link: https://www.econbiz.de/10010308389
, inflation and lending rates. All data was obtained from the Central Bank of Kenya online repositories. The empirical assessment …
Persistent link: https://www.econbiz.de/10014547854
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/10014577227