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This paper explores the impact of the exchange rate regime on inflation and output in the Central and Eastern European … exchange rate stability have a better explanatory power than the de jure measures in the inflation and growth equations. For … the whole observation period the estimations reveal a significant impact of exchange rate stability on low inflation as …
Persistent link: https://www.econbiz.de/10011402440
Persistent link: https://www.econbiz.de/10010495835
decentralization on macroeconomic stability. Our results found that decentralization appears to lead to a decrease in inflation rate … the impact of decentralization on inflation is conditional on the level of perceived corruption and political institutions. …
Persistent link: https://www.econbiz.de/10011195563
During the implementation of the monetary policy, the National Bank of Romania took great care for the activity of giving loans. Analyzing USA crisis, IMF pointed out the importance of regulations for this sector, which practically don’t exist in some cases, especially in the case of...
Persistent link: https://www.econbiz.de/10008556641
and the Survey of Professional Forecasters, we show that the ability to predict several measures of inflation and real …
Persistent link: https://www.econbiz.de/10011604651
the Survey of Professional Forecasters, we show that the ability of predicting several measures of inflation and real …
Persistent link: https://www.econbiz.de/10005076800
inflation and broad money as indicators is optimal. …
Persistent link: https://www.econbiz.de/10010295450
This paper presents a business cycle model with financial intermediation encompassing the conventional New Keynesian model. Households’ financial wealth comprises cash and interest bearing deposits. When deposits provide transaction services, real broad money, which is predetermined, affects...
Persistent link: https://www.econbiz.de/10010301214
This paper analyzes the stabilizing properties of alternative monetary policy regimes. In practice there is a choice between two broad types of monetary policy regimes: a fixed exchange rate regime or a floating exchange rate regime. In this paper I compare exchange rate targeting with different...
Persistent link: https://www.econbiz.de/10010321739
In this paper I investigate the relevance of the exchange rate regime for macroeconomic stability. I simulate hypothetical macroeconomic developments under different regimes in Sweden during the period 1972 -1996. The main question is how stable output would have been if Sweden had had a...
Persistent link: https://www.econbiz.de/10010321762