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Learning from Failed Stabilisation: High Inflation and the Cruzado Plan in Brazil.
Winograd, C.D. - Département et Laboratoire d'Économie Théorique … - 1995
Persistent link: https://www.econbiz.de/10005509928
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Zero Inflation Targets: Central Bank Commitment and Fiscal Policy Outcomes.
Scarth, W.M.; Stemp, P.J. - Department of Economics, Faculty of Business and Economics - 1996
This paper considers a central bank with a zero inflation target and a fiscal authority with a differing objective …. Situations in which the fiscal authority is able to exploit the central bank's commitment to zero inflation sre examined. …
Persistent link: https://www.econbiz.de/10005458685
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Forward guidance contracts
Gersbach, Hans; Hahn, Volker; Liu, Yulin - 2015 - This version: May 2015
We examine "Forward Guidance Contracts", which make central bankers' utility contingent on the precision of interest-rate forecasts for some time. Such Forward Guidance Contracts are a exible commitment device and can improve economic performance when the economy is stuck in a liquidity trap....
Persistent link: https://www.econbiz.de/10010528970
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The possible unemployment cost of average inflation below a credible target : a replication study of Svensson (American Economic Journal: Macroeconomics, 2015)
Oraby, Ramy - In: Journal of comments and replications in economics 1 (2022), pp. 1-21
long run Phillips curve recorded -0.75 in Sweden and -0.23 in the United States. While the average inflation rate in the … United States was very close to its targeted level, the average inflation rate in Sweden was 0.6 per- centage points below … its targeted level over the sample period. The deviation of inflation rate from its targeted level in Sweden resulted in …
Persistent link: https://www.econbiz.de/10013179358
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Effectiveness and Limitations of Monetary Policy Instruments in Romania and the European Union
Cioran, Zina - In: CES Working Papers 6 (2014) 4, pp. 43-56
The complexity of the monetary phenomenon as well as the effects that it induces in the social and economic life of the countries around the world have represented and still represent the subject of much controversy and dispute. The current forms of the monetary circulation organization in...
Persistent link: https://www.econbiz.de/10012017176
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The Possible Unemployment Cost of Average Inflation Below a Credible Target. A Replication Study of Svensson (American Economic Journal: Macroeconomics, 2015)
Oraby, Ramy - In: Journal of Comments and Replications in Economics (JCRE) 1 (2022) 2022-2, pp. 1-21
long run Phillips curve recorded -0.75 in Sweden and -0.23 in the United States. While the average inflation rate in the … United States was very close to its targeted level, the average inflation rate in Sweden was 0.6 per- centage points below … its targeted level over the sample period. The deviation of inflation rate from its targeted level in Sweden resulted in …
Persistent link: https://www.econbiz.de/10013190400
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Central banks and inflation : where do we stand and how did we get here?
Whelan, Karl - 2021
The inability of central banks to attain their target inflation rates in recent years has raised questions about the … extent to which central banks can control the inflation process. This paper discusses the evolution of thought and evidence … since the 1960s on the determinants of inflation and the role that should be played by central banks. The paper highlights …
Persistent link: https://www.econbiz.de/10012615951
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EFFECTIVENESS AND LIMITATIONS OF MONETARY POLICY INSTRUMENTS IN ROMANIA AND THE EUROPEAN UNION
CIORAN, Zina - In: CES Working Papers 6(4) (2014) December, pp. 43-56
The complexity of the monetary phenomenon as well as the effects that it induces in the social and economic life of the countries around the world have represented and still represent the subject of much controversy and dispute. The current forms of the monetary circulation organization in...
Persistent link: https://www.econbiz.de/10011255197
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Anticipation of central banks' adoption of inflation targeting and its effect on inflation
Dubey, Amlendu Kumar; Mishra, Akanksha - In: Central Bank review / Central Bank of the Republic of Turkey 23 (2023) 2, pp. 1-13
We construct an empirical test of whether the anticipation of adoption of inflation targeting affects the inflation … rate. We observe that most of the central banks adopt the regime after first achieving significant disinflation. With pre-inflation …-in-difference framework. We find that inflation targeting is successful in locking-in already low inflation rather than reducing high …
Persistent link: https://www.econbiz.de/10014364299
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Open-Economy Inflation Targeting
Svensson, L.E.O. - Institute for International Economic Studies (IIES), … - 1998
The paper extends previous analysis of closed-economy inflation targeting to a small open economy with forward … for monetary policy. The paper compares targeting of CPI and domestic inflation, strict and flexible inflation targeting …, and inflation-targeting reaction functions and the Talyor rule. The optimal monetary policy response to several different …
Persistent link: https://www.econbiz.de/10005779978