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CHIRITESCU, Dorel Dumitru; ANDRASIU, Andreea - In: Annals - Economy Series 1 (2010) April, pp. 49-52

In this article I have tried to make a short presentation of the Euro Zone and it’s monetary policy. At the present moment the Euro Zone has 16 countries that have adopted the Euro as a national currency and also 4 small countries that have monetary agreements with their neighbours. The...

Persistent link: https://www.econbiz.de/10008470487

Non-Stationary Inflation and the Markup: an Overview of the Research and some Implications for Policy

Russell, Bill - Department of Economics Studies, University of Dundee - 2006

This paper reports on research into the negative relationship between inflation and the markup. It is argued that this relationship can be thought of as ‘long-run’ in nature which suggests that inflation has a persistent effect on the markup and, therefore, the real wage. A ‘rule of...

Persistent link: https://www.econbiz.de/10005001714

Monetary Policy Activism and Price Responsiveness to Aggregate Shocks under Rational Inattention

Paciello, Luigi - Volkswirtschaftliche Fakultät, … - 2009

allocation deliver prices to be more responsive to more volatile shocks as, everything else being equal, firms pay relatively … transmission of monetary policy helps rationalizing the observed behavior of prices in response to technology and monetary policy …

Persistent link: https://www.econbiz.de/10005061658

Commodity prices as predictors of aggregate price change

Webb, Roy H. - In: Economic Review (1988) Nov, pp. 3-11

Many analysts have advocated using commodity prices as a guide for monetary policy. A necessary condition is that … changes in commodity prices are good predictors of future aggregate price changes. This paper examines that proposition. It … shows that while commodity prices can help produce more accurate inflation forecasts, the amount of improvement is small. …

Persistent link: https://www.econbiz.de/10005063860

Maintaining price stability: a proposal

Hetzel, Robert L. - In: Economic Review (1990) Mar, pp. 53-55

The Neal Resolution, now in Congress, would make price stability the dominant goal of monetary policy. The first of these two articles holds that policymakers’ discretion over the price level increases political conflict. Further, it argues that removing this discretion would restore the...

Persistent link: https://www.econbiz.de/10005063872

A mandate for price stability

Hetzel, Robert L. - In: Economic Review (1990) Mar, pp. 45-53

Persistent link: https://www.econbiz.de/10005063983

Monetary Policy and Multiple Equilibria

Benhabib, J.; Schmitt-Grohe, S.; Uribe, M. - C.V. Starr Center for Applied Economics, Department of … - 1998

In this paper, we characterize conditions under which interest rate feedback rules wherby the nominal interest rate is set as an increasing function of the inflation rate generate multiple equilibria. We show that these conditions depend not only on the fiscal regime (as emphasized in the fiscal...

Persistent link: https://www.econbiz.de/10005168647

Monetary Conditions Index for India

R, Kannan; Sanyal, Siddhartha; Bhoi, Binod Bihari - eSocialSciences - 2007

The authors attempt to construct a monetary conditions index (MCI) for India in order to take both interest rate and exchange rate channels simultaneously into consideration while evaluating the stance of monetary policy and evolving monetary conditions. The paper also constructs a "broad" MCI...

Persistent link: https://www.econbiz.de/10005487719

Selecting an intermediate target variable for monetary policy when the goal is price stability

Belongia, Michael T. - Federal Reserve Bank of St. Louis - 1992

Conventional investigations of the "best" intermediate target variable for monetary policy have used a single criterion: the best fit between the behavior of an aggregate and that of some goal variable such as nominal spending or the aggregate price level. Ignored in this type of study, however,...

Persistent link: https://www.econbiz.de/10005490886

Comovements in aggregate and relative prices: some evidence on neutrality

Pauls, B. Dianne - Federal Reserve Board (Board of Governors of the … - 1986

aggregate price level and to demonstrate econometrically its equivalence to the exogeneity of relative prices with respect to … role for supply-side disturbances in explaining comovements in aggregate and relative prices. …

Persistent link: https://www.econbiz.de/10005498851