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rejected for the floating exchange rate period from 1984 to 1991 when inflation was high and not specifically targeted by the …
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We use the ten years of experience in inflation-targeting in New Zealand since 1989 to test whether monetary policy … appears to conform to the simple rules that have been recommended for it in the literature. Of the inflation targeting central …
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A key application of long memory time series models concerns inflation. Long memory implies that shocks have a long … such level shifts are not unlikely for inflation, where the shifts may be caused by sudden oil price shocks, we examine … whether evidence for long memory (indicated by the relevance of an ARFIMA model) in G7 inflation rates is spurious or …
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This paper analyses in depth the causes of the Mexican peso crisis, so as to learn relevant lessons for similar crisis occurring in other developing or transitional economies. The study follows a relatively chronological order, examining first the apparently golden period, when Mexico was...
Persistent link: https://www.econbiz.de/10005661043
This paper uses a model of boundedly rational learning to account for the observations of recurrent hyperinflations in the last decade. We study a standard monetary model where the fully rational expectations assumption is replaced by a formal definition of quasi-rational learning. The model...
Persistent link: https://www.econbiz.de/10005661211