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output and real-rate gaps can be represented in a parsimonious and practical manner using the theory of anelasticity that …
Persistent link: https://www.econbiz.de/10011917259
during FY2004/2005:Q1-FY2015/2016:Q4; and Bayesian methods are used in estimation. Findings - The results show that monetary … and fiscal policy instruments in Egypt contribute to economic stability through their effects on inflation, output and …, inflation and debt. Also, it would be neither possible to contrast the outcome of monetary and fiscal authorities commitment to …
Persistent link: https://www.econbiz.de/10012159965
Persistent link: https://www.econbiz.de/10010466745
The purpose of this paper is to evaluate the behavior of monetary authorities in Tunisia and Egypt, in response to changes in macroeconomic variables over time based on LSTR model. In this sense, we estimate Taylor-type equations for short-term interest rate in Tunisia and Egypt using quarterly...
Persistent link: https://www.econbiz.de/10011499480
the inflation rate, the deviation in real GDP (Gross Domestic Product), the deviation in money supply, the deviation in … weight to the deviation in unemployment rate, and moderate weights are assigned to the deviation in the inflation rate, the …
Persistent link: https://www.econbiz.de/10014316675
There is no consensus over the importance of "global forces" on inflation. This study explores the role of structural … breaks in the inflation process, and their timing, whether it is common across countries, and the extent to which "global … forces" are relevant. Three conclusions stand out. Global inflation impacts inflation in both AE and EME, but the impact is …
Persistent link: https://www.econbiz.de/10012269197
"constrained discretion" to the central bank by imposing both upper and lower bounds on permissible inflation, and that these …
Persistent link: https://www.econbiz.de/10011937351
Regression model for the period 1995Q1 to 2018Q2. The empirical evidence reveals the existence of two inflation regimes during … the period under review. Food inflation, energy inflation, firms’ marginal cost, and imported inflation account for most … exchange rate solely explains price changes in the composite consumers’ basket when inflation switches to high regime …
Persistent link: https://www.econbiz.de/10012178169
I study a class of macroeconomic models in which all firms can costlessly choose any price at each date from an interval (indexed to last period's price level) that includes a positive lower bound. I prove three results that are valid for any such half‐closed interval (regardless of how near...
Persistent link: https://www.econbiz.de/10012806308
Persistent link: https://www.econbiz.de/10011640975