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Persistent link: https://www.econbiz.de/10001141600
Eurozone countries today) and two - Finland and Sweden - after floating the currency.All four episodes were associated with an … occurred because the sterling coincidentally appreciated. In Finland and Sweden the currency experienced an extremely large …
Persistent link: https://www.econbiz.de/10013118837
- Finland and Sweden - after floating the currency. All four fiscal episodes were associated with an expansion; but only in … sterling coincidentally appreciated. In Finland and Sweden the currency experienced an extremely large depreciation after … wage negotiation process. In Finland and Sweden, the adoption of inflation targeting at the same time of the consolidation …
Persistent link: https://www.econbiz.de/10013067012
Persistent link: https://www.econbiz.de/10013167497
rates into asset prices: nearly 300,000 sales of owner-occupied homes inquot; Sweden from 1981 to 1993 with 40,000 including …
Persistent link: https://www.econbiz.de/10012774912
The use of forward interest rates as a monetary policy indicator is demonstrated, using Sweden 1992-1994 as an example …
Persistent link: https://www.econbiz.de/10012783966
Based on high-frequency data for Norway and Sweden, we investigate to what extent explicit forward guidance from …
Persistent link: https://www.econbiz.de/10012958246
We explore the effects of forward guidance at the zero lower bound when there is uncertainty over the lift-off date arising from: (i) the imperfect credibility of time-inconsistent forward-guidance promises; (ii) incomplete communication. We use a simple New Keynesian model to demonstrate that a...
Persistent link: https://www.econbiz.de/10012959532
Monetary policy space remains constrained by the lower bound in many countries, limitingthe policy options available to address future deflationary shocks. The existence of cashprevents central banks from cutting interest rates much below zero. In this paper, we considerthe practical feasibility...
Persistent link: https://www.econbiz.de/10012910358
Following the crisis of 2008, several central banks engaged in a new experiment by setting negative policy rates. Using aggregate and bank level data, we document that deposit rates stopped responding to policy rates once they went negative and that bank lending rates in some cases increased...
Persistent link: https://www.econbiz.de/10012892748