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In the last decade, advanced economies, including the euro area, experienced deflationary pressures caused by the global financial crisis of 2007-2009 and the anti-crisis policies that followed - in particular, the new financial regulations (which led to a deep decline in the money multiplier)....
Persistent link: https://www.econbiz.de/10011852813
for inflation and for real economic development. …
Persistent link: https://www.econbiz.de/10011605516
equation, and inflation was driven mainly by the money gap. After a striking changeover, from 1983 until 2000 the demand for … currency took a very different form, and inflation was determined by the markup without an explicit effect from money. However …
Persistent link: https://www.econbiz.de/10005009905
subsequent inflation when accounting for equilibrium velocity movements due to inflation regimes changes. These movements, driven … equilibrium velocity and interest rate movements biases cross-country and time series dynamic money growth / inflation estimated …
Persistent link: https://www.econbiz.de/10005069890
low but still positive rates of inflation, provides an adequate approximation in welfare terms to the alternative of …
Persistent link: https://www.econbiz.de/10005041765
This paper investigates the determinants of money demand (M3) in the euro area. It specifically examines the potential impact of financial and housing wealth on money demand. It tests the hypothesis, whether wealth associated with increases in asset prices is used to finance liquidity holdings...
Persistent link: https://www.econbiz.de/10005045941
subsequent inflation when accounting for equilibrium velocity movements due to inflation regimes changes. These movements, driven … equilibrium velocity and interest rate movements biases cross-country and time series dynamic money growth / inflation estimated …
Persistent link: https://www.econbiz.de/10008925013
for inflation and for real economic development. …
Persistent link: https://www.econbiz.de/10011099751
This paper examines the causal effects of shifts in international food commodity prices on euro area inflation dynamics …%-30% of inflation volatility. In addition, large autonomous swings in international food prices contributed significantly to … the twin puzzle of missing disinflation and missing inflation in the era after the Great Recession. Specifically, without …
Persistent link: https://www.econbiz.de/10011931321
movements do not have an impact on inflation, as aggregate rules of thumb mask substantial heterogeneities across countries … deviations of inflation from target, including those relating to exchange rate fluctuations. Moreover, under the effective lower … inflation. …
Persistent link: https://www.econbiz.de/10012206373