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The economic characteristics of the COVID-19 crisis differ from those of previous crises. It is a combination of demand- and supply-side constraints which led to the formation of a monetary overhang that will be unfrozen once the pandemic ends. Monetary policy must take this effect into...
Persistent link: https://www.econbiz.de/10012592174
The proposition that inflation expectations can be extracted as inflation predictions from the government bond yield … of inflation. Examining the sub-periods separated by the adoption, in 2000, of inflation targeting, we find that the … monetary policy regime shift strengthened the relationship between the yield spread and future inflation. The results suggest …
Persistent link: https://www.econbiz.de/10011873970
growth, inflation rate, and exchange rate on the balance of payments by net foreign assets (NFA) in 17 developing countries … results indicate that domestic credit, interest rate, inflation and exchange rate have a significantly negative, while real …
Persistent link: https://www.econbiz.de/10014312315
, we study the implications of different inflation regimes on the racial unemployment gap. Higher trend inflation increases …
Persistent link: https://www.econbiz.de/10014283315
This paper studies the effect of monetary policy on inflation along the income distribution in several euro area …. On the one hand, different consumption shares imply that inflation by high-income households responds less to monetary … its reaction to monetary policy, which imply that inflation by high-income households responds more to monetary policy. …
Persistent link: https://www.econbiz.de/10014478496
The objective of this paper was to analyse the relationship between inflation and economic growth in Burundi and to … determine whether there is an inflation threshold or not to allow monetary authority to adopt the optimal policies to deal with … between inflation and economic growth. The results showed a negative and significant relationship in the short run between …
Persistent link: https://www.econbiz.de/10014500848
Foreign price shocks have significant effects on functional income distribution and on inflation inequality. By ….g. food prices for low-wage workers). Based on the conflicting-claims inflation literature, we propose a new extension to this … with an inflation-targeting regime. We investigate the impacts of foreign price shocks on income and inflation inequality …
Persistent link: https://www.econbiz.de/10013553408
Is inflation (still) a global phenomenon? We study the international co-movement of inflation based on a dynamic factor … explains approximately 58% of the variation in headline inflation across all countries and over 72% in OECD economies. The … explanatory power of global inflation is equally high in a shorter sample spanning the time since 2000. Core inflation is also …
Persistent link: https://www.econbiz.de/10014551069
economy. Romer and Romer (2000) found that the Fed reveals information about inflation when it tightens monetary policy. Their … exclude the Fed's revelation of its asymmetric information about future inflation. …
Persistent link: https://www.econbiz.de/10010293721
inflation and is shown to be Granger-causal for euro area inflation in an out-of-sample forecasting exercise. In part, this … contrast, the influence of Japanese and euro area excess liquidity on euro area inflation is more limited. …
Persistent link: https://www.econbiz.de/10010299143