The renaissance of capital-based macroeconomics belongs to the most significant scholarly developments within the field of macroeconomics in recent times. This paper was a contribution to the special 2001 symposium devoted to a critical evaluation and analysis of the recent revival of...

This paper examines the optimal frequency of monetary policy meetings when their schedule is pre-announced. Our contribution is twofold. First, we show that in the standard New Keynesian framework infrequent but periodic revision of monetary policy may be desirable even when there are no...

This paper quantifies transparency of monetary policy in the three EU New Member States that have adopted direct inflation targeting strategy. Two measures of transparency are applied. The institutional measure reflects the extent to which a central bank discloses information that is related to...

Se analiza la viabilidad del modelo de crecimiento aplicado en nuestro país luego de la devaluación. Comenzaremos repasando las principales teorías de crecimiento con el fin de determinar si existe alguna que respalde dicha estrategia de crecimiento. Luego examinaremos el modelo aplicado en...

This note looks ata the correlation of short-term business cycles in the euro area and the Eu accession countries. This issue is assessed with the help of vector autoregressive models. There are clear differences in the degree of correlation between acces-sion countries. For Hungary and...

First, there is the question of whether a permanent increase in public investment induces a permanent, or merely a temporary, increase in economic growth. The traditional neoclassical growth model of Solow (1956) predicts that any positive effect of an increase in the national savings and...

This paper examines the historical record of UK house prices to establish if there is evidence to suggest that there have been significant changes in the prices of houses. It does this be examining a measure of affordability. This is defined as the average UK house price over the Average wage....

In a former research group 1 where I worked (1996 to 1999), the core of the study was to compare the four southern European housing systems - Portugal, Spain, Italy and Greece Πunder the assumption that they had a different path other than northern European countries. We had the personal...

This paper argues that the Stock-Flow Consistent Approach to macroeconomic modeling can be seen as a natural outcome of the path taken by Keynesian macroeconomic thought in the 1960s and 1970s, a theoretical frontier that remained largely unexplored with the end of Keynesian academic hegemony....

A LOOK AT EXCHANGE RATE AND MONETARY POLICY IN MALAWI* Prepared by K Simwaka Research & Statistics Department Reserve Bank of Malawi Abstract The paper assesses whether the exchange rate is affected by monetary policy and whether these effects are permanent or transitory. The paper takes the...