Showing 188,461 - 188,470 of 188,531
Purpose – In the past two decades, there has been a remarkable decline in inflation in both developed and developing countries, in sharp contrast to the period immediately preceding it. Interestingly, the behaviour of inflation in India broadly exhibits such a pattern. For much of the 1970s...
Persistent link: https://www.econbiz.de/10014758956
Purpose – The purpose of this paper is to describe the transformation of macro‐modelling from reduced form behavioural equations estimated separately, through to contemporary microfounded dynamic stochastic general equilibrium (DSGE) models estimated by systems methods. It is argued that...
Persistent link: https://www.econbiz.de/10014758958
Purpose – The purpose of this paper is to examine the effects of monetary policy on economic activity using a plethora of hitherto unemployed financial dynamics in inflation-chaotic African countries for the period of 1987-2010.Although in developed economies, changes in monetary policy affect...
Persistent link: https://www.econbiz.de/10014759102
Purpose – The purpose of this paper is to compare and contrast the effectiveness of monetary policy in boosting the housing sectors in each of Egypt and South Africa, and to detect the ability of the monetary agents of both nations to tame house prices. Design/methodology/approach – An...
Persistent link: https://www.econbiz.de/10014668581
Purpose – A major lesson of the European Monetary Union crisis is that serious disequilibria in a monetary union result from arrangements not designed to be robust to a variety of shocks. With the specter of this crisis looming substantially and scarring existing monetary zones, the purpose of...
Persistent link: https://www.econbiz.de/10014668854
Persistent link: https://www.econbiz.de/10014632581
Exploiting the heteroscedasticity of the changes in short-term and long-term interest rates and exchange rates around the FOMC announcement, we identify three structural monetary policy shocks. We eliminate the predictable part of the shocks and study their effects on financial variables and...
Persistent link: https://www.econbiz.de/10014635083
A simple IS‐LM model under imperfect competition and increasing returns is examined. It is shown that when firms maximize profits the values of the fiscal and monetary policy multipliers are smaller than their respective ones under perfect competition. If firms follow a cost‐plus pricing...
Persistent link: https://www.econbiz.de/10014805229
Purpose – The paper analyses the challenges of globalization for exchange rate and monetary policy. Design/methodology/approach – It first deals with the implications of globalization for the choice of an appropriate exchange rate regime. Then it discusses different strategic aspects of...
Persistent link: https://www.econbiz.de/10014805287
Purpose – The aim of this paper is to examine the proposition that the monetary reform movement has correctly identified the central importance of money‐issue whilst, simultaneously, not appreciated the sophistication of previous monetary theorists. Design/methodology/approach – The...
Persistent link: https://www.econbiz.de/10014805492