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Monetary Policy, Global Liquidity and Commodity Price Dynamics
Belke, Ansgar Hubertus - 2010
useful information about variables such as commodity prices which matter for aggregate demand and thus inflation. Given this …
Persistent link: https://www.econbiz.de/10013144671
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Monetary Policy, Global Liquidity and Commodity Price Dynamics
Belke, Ansgar; Bordon, Ingo G.; Hendricks, Torben W. - Rheinisch-Westfälisches Institut für … - 2010
This paper examines the interactions between money, interest rates, goods and commodity prices at a global level. For this purpose, we aggregate data for major OECD countries and follow the Johansen/Juselius cointegrated VAR approach. Our empirical model supports the view that, when controlling...
Persistent link: https://www.econbiz.de/10008518190
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Detecting multiple breaks in long memory : the case of US inflation
Hassler, Uwe; Meller, Barbara - 2011
-varying inflation persistence as an important issue for monetary policy. We determine not only the location and significance of breaks … in persistence, but also the number of breaks. Only one significant break in U.S. inflation persistence (measured by the … integration ; break in persistence ; unknown break point ; inflation dynamics …
Persistent link: https://www.econbiz.de/10009382958
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Stock market investment and inflation : evidence from the United States and Canada
Sami, Janesh - In: Review of Economic Analysis : REA 13 (2021) 3, pp. 339-365
investment can help hedge against inflation in the United States (US) and Canada. This study employed an autoregressive … distributed lag (ARDL) cointegration test developed by Pesaran, Shin, and Smith (2001), and finds evidence of a positive long … against inflation in the United States and Canada. …
Persistent link: https://www.econbiz.de/10012886334
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Liquidity and the dynamic pattern of price adjustment: a global view
Belke, Ansgar; Orth, Walter; Setzer, Ralph - 2008
Global liquidity expansion has been very dynamic since 2001. Contrary to conventional wisdom, high money growth rates have not coincided with a concurrent rise in goods prices. At the same time, however, asset prices have increased sharply, significantly outpacing the subdued development in...
Persistent link: https://www.econbiz.de/10010298742
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Liquidity and the dynamic pattern of asset price adjustment: a global view
Belke, Ansgar; Orth, Walter; Setzer, Ralph - 2009
Global liquidity expansion has been very dynamic since 2001. Contrary to conventional wisdom, high money growth rates have not coincided with a concurrent rise in goods prices. At the same time, however, asset prices have increased sharply, significantly outpacing the subdued development in...
Persistent link: https://www.econbiz.de/10010271141
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The importance of global shocks for national policymakers : rising challenges for central banks
Belke, Ansgar; Rees, Andreas - 2009
We analyze the importance of global shocks for the global economy and national policy makers. More specifically, we investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether there is increasing uncertainty for central banks due...
Persistent link: https://www.econbiz.de/10003879570
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International dynamics of inflation expectations
Netšunajev, Aleksei; Winkelmann, Lars - 2016
To what extent are US and Euro Area (EA) inflation expectations determined by foreign shocks? How do transmissions … VAR model of weekly financial markets’ inflation expectations and an index of commodity futures. For the identification of … nature and origin of identified shocks. In line with the discussion about global inflation, we find that inflation …
Persistent link: https://www.econbiz.de/10011458367
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The Importance of Global Shocks for National Policy Makers - Rising Challenges for Central Banks
Belke, Ansgar Hubertus - 2009
We analyze the importance of global shocks for the global economy and national policy makers. More specifically, we investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether there is increasing uncertainty for central banks due...
Persistent link: https://www.econbiz.de/10013155344
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The exchange rate insulation puzzle
Corsetti, Giancarlo; Küster, Keith; Müller, Gernot J.; … - 2021
targets headline inflation, but only at the cost of missing the unconditional evidence on currency volatility. …
Persistent link: https://www.econbiz.de/10012705556