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Real Return Bonds, Inflation Expectations, and the Break-Even Inflation Rate

Christensen, Ian; Dion, Frédéric; Reid, Christopher - Bank of Canada - 2004

According to the Fisher hypothesis, the gap between Canadian nominal and Real Return Bond yields (or break-even inflation rate) should be a good measure of inflation expectations. The authors find that this measure was higher, on average, and more variable than survey measures of inflation...

Persistent link: https://www.econbiz.de/10005162538

Monetary Policy and its Theoretical Foundations

Laidler, David - University of Western Ontario, Economic Policy Research … - 2005

This paper briefly discusses why a monetary policy framework that emphasises interest rates has become standard in recent years, and why so many economists have been persuaded simultaneously to downgrade the importance of monetary aggregates. Then it describes Michael Woodford's particular...

Persistent link: https://www.econbiz.de/10005812560

Public Sector Pricing Behavior And Inflation Risk Premium In Turkey

Berument, Hakan - İktisat Bölümü, Bilkent Üniversitesi - 2001

Persistent link: https://www.econbiz.de/10011211410

Deflation and Japan Revisited

Johnsson, Richard C.B. - Ratioinstitutet - 2003

falling prices really that bad? According to the Austrian School of Economics, this is not necessarily the case. A distinction … the first three kinds, falling prices are regarded as benign free market responses to changing circumstance, whether these … the Japanese economy of 1990-2001 is revisited. While consumer prices fell in 1995 and 1999-2001, if other prices are …

Persistent link: https://www.econbiz.de/10005419166

Central banking and financial innovation. A survey of the modern literature

Berk, Jan Marc - In: BNL Quarterly Review 55 (2002) 222, pp. 263-297

We review the literature regarding the impact of financial innovation on the monetary transmission mechanism and on the way the central bank can achieve its ultimate goal, that is to control the price level. We argue that, although the form ofcentral bank instruments and current methods for...

Persistent link: https://www.econbiz.de/10010752505

Central banking and financial innovation. A survey of the modern literature

Berk, Jan Marc - In: Banca Nazionale del Lavoro Quarterly Review 55 (2002) 222, pp. 263-297

Persistent link: https://www.econbiz.de/10010752556

Understanding inflation in emerging and developing economies

Ha, Jongrim; Kose, M. Ayhan; Ohnsorge, Franziska - 2019

Emerging market and developing economies (EMDEs) have experienced an extraordinary decline in inflation since the early 1970s. After peaking in 1974 at 17.3 percent, inflation in these economies declined to 3.5 percent in 2017. Despite a checkered history of managing inflation among many EMDEs,...

Persistent link: https://www.econbiz.de/10012060219

Inflation volatility in small and large advanced open economies

Mozzanica, Mirco Balatti - 2020

Inflation volatility is clearly important for structural analysis, forecasting and policy purposes, yet it is often overlooked in the literature. This paper compares in ation volatility among advanced open economies with in ation targeting monetary policy frameworks. The results of the empirical...

Persistent link: https://www.econbiz.de/10012422110

International Experiences with Different Monetary Policy Regimes.

Mishkin, F.S. - Institute for International Economic Studies (IIES), … - 1998

In recent years a growing consensus has emerged for price stability as the overriding, long-run goal of monetary policy. However, despite this consensus, the following question still remains: how should monetary policy be conducted to achieve the price stability goal? This paper examines the...

Persistent link: https://www.econbiz.de/10005779967

Money Growth Targeting.

von Hagen, J. - Institute for International Economic Studies (IIES), … - 1998

The recent debate over monetary policy strategies concludes that monetary targeting in practice lead to very similar patterns of central bank behaviour. This raises the question why central banks insist on the strategies they use. In this paper, we develop an answer from political economy. After...

Persistent link: https://www.econbiz.de/10005479280