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State-contingent Inflation Contracts and Output Persistence

Lockwood, Ben - C.E.P.R. Discussion Papers - 1996

autoregressive process, by offering the central banker a linear inflation contract, and where the parameters of the contract depend …

Persistent link: https://www.econbiz.de/10005789212

The Australian Business Cycle: A New View

Harding, Don - Volkswirtschaftliche Fakultät, … - 2002

In this paper I address the following questions. - Has the business cycle become longer and shallower? And why? - How stabilizing is monetary policy. In answering these questions I summarize recent research undertaken by Adrian Pagan and myself that formalizes the procedures developed by Burns...

Persistent link: https://www.econbiz.de/10005789238

Political constraints on monetary policy during the Great Inflation

Weise, Charles L - Volkswirtschaftliche Fakultät, … - 2008

The U.S. Great Inflation of the 1970s was characterized by repeated, failed attempts at disinflation by the Federal … Reserve as well as periods of inaction despite rising inflation. Previous research has attributed these failures to … to tackle inflation would be unpopular with the public and would generate opposition from Congress and the Executive …

Persistent link: https://www.econbiz.de/10005789331

Reflections of the New Economy on the monetary policy and central banking

Akyazi, Haydar; Artan, Seyfettin - Volkswirtschaftliche Fakultät, … - 2006

Developments in the information and communication technologies have been causing significant changes on the working mechanisms of the economy both at the national and international areas. Some of the developments can be indicated as follows: the dramatic increasing of capital movements amongst...

Persistent link: https://www.econbiz.de/10005789521

The Relativity Theory Revisited: Is Publishing Interest Rate Forecasts Really so Valuable?

Brzoza-Brzezina, Michal; Kot, Adam - Volkswirtschaftliche Fakultät, … - 2008

rate paths are small relative to those from publishing macroeconomic projections. Given that most inflation targeting …

Persistent link: https://www.econbiz.de/10005789561

The Money Demand with Random Output and Limited Access to Debt

Mierzejewski, Fernando - Volkswirtschaftliche Fakultät, … - 2007

The money-demand of the economy is characterised, when national output is random and investors cannot attract any level of debt at any moment without incurring in additional costs. The optimal cash balance is then expressed as the probability-quantile (or Value-at-Risk) of the series of capital...

Persistent link: https://www.econbiz.de/10005789732

The US Dollar and the Euro: Deus Ex-Machina

Lorca-Susino, Maria - Volkswirtschaftliche Fakultät, … - 2008

Until the 19th and mid-20th centuries, economic theory explained that the economic status of a country was represented by the strength of its currency. This strength is measured by the exchange rate of one currency vis-á-vis another currency, a “zero-sum” game in which one currency gains...

Persistent link: https://www.econbiz.de/10005789886

An actuarial approach to short-run monetary equilibrium

Mierzejewski, Fernando - Volkswirtschaftliche Fakultät, … - 2007

The extent to which the money supply affects the aggregate cash balance demanded at a certain level of nominal income and interest rates is determined by the interest-rate-elasticity and stability of the money demand. An actuarial approach is adopted in this paper for dealing with investors...

Persistent link: https://www.econbiz.de/10005789895

Bayesian Analysis of DSGE Models with Regime Switching

Eo, Yunjong - Volkswirtschaftliche Fakultät, … - 2008

I estimate DSGE models with recurring regime changes in monetary policy (inflation target and reaction coefficients …

Persistent link: https://www.econbiz.de/10005789972

The US dollar and the Euro: The Deus Ex-Machina

Lorca-Susino, Maria - Volkswirtschaftliche Fakultät, … - 2008

Until the 19th and mid-20th centuries, economic theory explained that the economic status of a country was represented by the strength of its currency.2 This strength is measured by the exchange rate of one currency vis-á-vis another currency, a “zero-sum” game in which one currency gains...

Persistent link: https://www.econbiz.de/10005790064