Showing 61 - 70 of 172,495
Many central banks discuss the introduction of a Central Bank Digital Currency (CBDC). Empirical evidence suggests that households may differ in their willingness to hold CBDC. Against this background, this paper investigates the macroeconomic effects of different CBDC regimes in a New Keynesian...
Persistent link: https://www.econbiz.de/10014229087
determine when and if a seigniorage-maximizing inflation rate occurred and this way provide a rational on the development of … that the seigniorage-maximizing rate of inflation of the Venezuelan economy occurred around the first quarter of 2016 at a … monthly inflation rate of approximately 13 percent. The implications of this are that when facing the choice of maximizing …
Persistent link: https://www.econbiz.de/10012906561
Analyzing inflation as a change in the value of a currency, rather than changes in prices of goods and services …, provides perspective on three fundamental sources of inflation.A Money Value Formula produces a significant statistical fit … with forward long-term inflation rates using long lags of monetary aggregates with inflation variability due almost …
Persistent link: https://www.econbiz.de/10012896591
explain virtually all variation of future long-term inflation, enabling significantly more accurate inflation forecasts than … inflation in all 18 countries surveyed. Over 94% of the variation of long-term inflation is explained in 13 of the 18 countries … sample forecasts for U.S. inflation are 50% more accurate (smaller error) than consensus long-term forecasts and 10-20% more …
Persistent link: https://www.econbiz.de/10012970015
Low and unresponsive inflation has been termed a “puzzle.” The paper describes a formula for which these conditions … variability of forward long-term inflation. Its U.S. inflation forecasts are comparable to recognized leaders in accuracy with … potential applicability to international economies as well.Inflation Elasticity, the responsiveness of inflation to monetary …
Persistent link: https://www.econbiz.de/10012858878
Indian currency rupee is depreciating rapidly against the US dollar and other foreign currencies. This paper analyses the major causes of this depreciation. It also discusses its cures.
Persistent link: https://www.econbiz.de/10011109724
This paper deals with Russia's monetary policy in 2011. The authors analyze Russia's money morket, inflationary development, main measures in the monetary policy, the balance of payments and the RUR exchange rate
Persistent link: https://www.econbiz.de/10013103309
Do changes in monetary policy affect inflation and output in the East African Community (EAC)? We find that (i … policy, sometimes move in directions that exert offsetting expansionary and contractionary effects on inflation - posing …
Persistent link: https://www.econbiz.de/10013086307
Bagus and Howden (2011) argue that price stickiness is a poor justification for advocating a flexible money supply through the issuing of fiduciary media under central or free banking. They view the contraction in output following an exogenous increase in money demand as an optimal response,...
Persistent link: https://www.econbiz.de/10013066751
In response to the COVID-19 pandemic, G7 central banks have launched asset purchase programs in anticipation of an increase in government bond offerings to finance ballooning fiscal deficits. As the volume of government bonds owned by private investors is not expected to rise during the current...
Persistent link: https://www.econbiz.de/10012833335