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Quantitative Approaches to Fiscal Sustainability Analysis : A Case Study of Turkey since the Crisis of 2001

Budina, Nina; van Wijnbergen, Sweder - In: The World Bank Economic Review 23 (2009) 1, pp. 119-140

This case study of fiscal sustainability in Turkey after the crisis in 2001 reviews and extends quantitative approaches to fiscal sustainability analysis and brings them together in a user-friendly tool applicable in a data-sparse environment. It combines a dynamic simulations approach with a...

Persistent link: https://www.econbiz.de/10015360577

Neues von der NAIRU? / News from the NAIRU?

Franz, Wolfgang - In: Jahrbücher für Nationalökonomie und Statistik 221 (2001) 3, pp. 256-284

Summary This paper is devoted to a new estimation of the non-accelerating inflation rate of unemployment (NAIRU) for …

Persistent link: https://www.econbiz.de/10014608832

Money, Inflation and Growth in Germany. A Vector-Error-Correction-P-Star Model / Der Zusammenhang zwischen Geldmenge, Output und Preisen in Deutschland. Ein Vektorfehlerkorrektur-P...

Clostermann, Jörg; Seitz, Franz - In: Jahrbücher für Nationalökonomie und Statistik 222 (2002) 6, pp. 641-655

Summary The present paper uses the P-Star approach to analyze the real and price effects of German monetary policy on the basis of a multivariate vector-error-correction-model. One surprising result is that the Bundesbank does not cause the price effects of its monetary policy actions directly...

Persistent link: https://www.econbiz.de/10014608908

Potenziale und Grenzen eines nutzenbasierten ökonomischen Leitbildes für die amtliche Inflationsmessung / What Role Should Economic Reasoning Play in the Compilation of the Official Consumer Price Index?

Auer, Ludwig von - In: Jahrbücher für Nationalökonomie und Statistik 225 (2005) 3, pp. 27-46

Verfügung. Letztlich muss die offizielle Inflation deshalb auf Basis eines statistischen Preisindex (SP) berechnet werden. Bei …

Persistent link: https://www.econbiz.de/10014609046

``To Furnish an Elastic Currency'': Banking, Aggregate Risk, and Welfare

Loewy, Michael B. - In: Topics in Macroeconomics 3 (2003) 1

The Federal Reserve Act calls upon the newly created Banks "... to furnish an elastic currency..." since such action was thought to be welfare improving during times of high currency demand. This paper considers the welfare implications of an "elastic currency" regime within the context of an...

Persistent link: https://www.econbiz.de/10014588343

Central bank’s perception on inflation and inflation expectations of experts : Empirical evidence from Brazil

Montes, Gabriel Caldas; Nicolay, Rodolfo Tomás da Fonseca - In: Journal of Economic Studies 42 (2015) 6, pp. 1142-1158

are few studies related to the influence that central bank’s perspectives about the state of the economy have on inflation … proposes an indicator of the central bank’s perception of inflation based on the minutes of the COPOM meetings, and, it … analyzes the influence of central bank communication on expert inflation expectations through such indicator. Design …

Persistent link: https://www.econbiz.de/10014864365

The bridge between macro and micro banking regulation : A framework from the model of financial flows

De Moraes, Claudio Oliveira; de Mendonça, Helder Ferreira - In: Journal of Economic Studies 44 (2017) 2, pp. 214-225

Purpose The purpose of this paper is to discuss more efficient mechanisms of regulation in the financial system. Design/methodology/approach The authors developed a theoretical two-period model of financial flows (FFs) that considers households, banks, and a social planner. Findings It is...

Persistent link: https://www.econbiz.de/10014864511

Effects of reputation and credibility on monetary policy: theory and evidence for Brazil

Caldas Montes, Gabriel; Cesar Albuquerque Bastos, Julio - In: Journal of Economic Studies 41 (2014) 3, pp. 387-404

credibility of the regime of inflation targeting are important to reduce the inflation bias and the effort of the monetary … that credibility is important to reduce both the inflation bias and the efforts of the monetary authority in the conduct of … demonstrates that the gain of reputation improves credibility, but also that attempts to exploit the output-inflation trade …

Persistent link: https://www.econbiz.de/10014864629

What Caused the Great Recession?

Homburg, Stefan - In: Review of Economics 66 (2015) 1, pp. 1-12

Abstract This paper examines five possible explanations for the Great Recession of 2008 and 2009, using data for the United States and the eurozone. Of these five hypotheses, four are not supported by the data, while the fifth appears reasonable.

Persistent link: https://www.econbiz.de/10014619313

Lender of Last Resort and Global Liquidity : Rethinking the system

Obstfeld, Maurice - In: Development Outreach 11 (2009) 3, pp. 43-46

One important lesson of the crisis is the need to take a systemic view of measures aimed at financial stability. Measures that enhance the stability of a single institution could be inimical to the stability of the financial system as a whole.

Persistent link: https://www.econbiz.de/10015360094