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responds to inflation and output volatility, especially during economic crises. This framework offers a promising alternative …
Persistent link: https://www.econbiz.de/10014538995
€™s inflation-targeting policy and a developed model with the exchange rate taken into account. Based on real-time quarterly …, Sveriges Riksbank, was not merely adjusting its repo rate in response to the changes in expected inflation and output … deviations. An approach that is known as one of a central bank’s classic regulation tools to deal with domestic inflation first …
Persistent link: https://www.econbiz.de/10011205761
A number of recent studies have suggested that activist stabilization policy rules responding to inflation and the … output gap can attain simultaneously a low and stable rate of inflation as well as a high degree of economic stability. The …
Persistent link: https://www.econbiz.de/10009767123
The purpose of this paper is to evaluate the behavior of monetary authorities in Tunisia and Egypt, in response to changes in macroeconomic variables over time based on LSTR model. In this sense, we estimate Taylor-type equations for short-term interest rate in Tunisia and Egypt using quarterly...
Persistent link: https://www.econbiz.de/10011499480
inflation and output stabilisation mandates of the CBN. The study also finds that inclusion of more instruments in the CBN … therefore emphasises the difficulty of the CBN to effectively manage inflation and output stabilisation simultaneously, which …
Persistent link: https://www.econbiz.de/10014516037
In a simple New Keynesian model, we derive a closed form solution for the inflation persistence parameter as a function … inflation and the output gap, we show that the empirically observed changes in U.S. inflation persistence during the period 1975 …) view that inflation persistence should not be considered a structural parameter in the sense of Lucas. …
Persistent link: https://www.econbiz.de/10008758155
In a simple New Keynesian model, we derive a closed form solution for the inflation-gap persistence parameter as a … to inflation and the output gap, we show that the empirically observed changes in U.S. inflation-gap persistence during … Benati’s (2008) view that inflation persistence should not be considered a structural parameter in the sense of Lucas. …
Persistent link: https://www.econbiz.de/10009526206
The launch of the euro has fed doubts concerning the constitution of an optimal European monetary zone. Indeed, the differences in legal, institutional and cultural frameworks… as well as the diversity of the productive and financial European systems may have led to the idea that Europe does...
Persistent link: https://www.econbiz.de/10011258339
varieties of crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with … inflation as the nominal anchor, a floating exchange rate, and the short-term interest rate as the main instrument. We examine …
Persistent link: https://www.econbiz.de/10010763879
crawling peg exchange rate regimes, Colombia adopted a full-fledged inflation-targeting (IT) regime in 1999, with inflation as …
Persistent link: https://www.econbiz.de/10010945756