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Exchange Rate and Inflation Under Weak Monetary Policy : Turkey Verifies Theory
Gürkaynak, Refet S.; Kısacıkoğlu, Burçin; Lee, … - 2022
experiment of the past decade, stemming from a belief of the government that higher interest rates cause higher inflation … eventually a negative coefficient on inflation in the policy rule. In such an environment, was the exchange rate still a random … walk? Was inflation anchored? Does the “standard model” suffice to explain the broad contours of macroeconomic outcomes in …
Persistent link: https://www.econbiz.de/10014083478
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Price-setting and exchange rate pass-through in the Mexican economy : evidence from CPI micro data
Kochen, Federico; Sámano, Daniel - 2016
allows us to evaluate the anchoring of inflation expectations in the Mexican economy. To address this issue, in this paper we … price-setting in Mexico for the period between January 2011 and April 2016. Our estimates suggest that the exchange rate …
Persistent link: https://www.econbiz.de/10011523612
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Do Exchange Rate Changes Have Symmetric or Asymmetric Effects on the Demand for Money in Korea?
Bahmani‐Oskooee, Mohsen - 2018
Previous studies that included the exchange rate in the Korean demand for money assumed that the effects of the exchange rate changes are symmetric and adjustment process is linear. They found no significant effects. In this paper we apply Shin et al.'s (2014) Nonlinear ARDL approach to...
Persistent link: https://www.econbiz.de/10012930773
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On the Won and Other East Asian Currencies
Chinn, Menzie David - 1998
A sticky price monetary model (Frankel, 1979) of exchange rates is applied to quarterly data on seven currencies: The Indonesian rupiah, Korean won, Malaysian ringgit, Philippine peso, Singapore dollar, Taiwanese dollar and the Thai baht. The model proves empirically unsuccessful, except in the...
Persistent link: https://www.econbiz.de/10014071868
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Inflation and wage expectations of firms and employees
Buchheim, Lukas; Link, Sebastian; Möhrle, Sascha - 2024
We study the link between expected inflation and wages using novel panel data from German firms and employees. We find … that pass-through - the percentage point change in wage growth given a one percentage point change in expected inflation … extensive margin, expected inflation has little effect on additional wage negotiations. …
Persistent link: https://www.econbiz.de/10015053872
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Inflation and wage expectations of firms and employees
Buchheim, Lukas; Link, Sebastian; Möhrle, Sascha - 2024
We study the link between expected inflation and wages using novel panel data from German firms and employees. We find … that pass-through—the percentage point change in wage growth given a one percentage point change in expected inflation … margin, expected inflation has little effect on additional wage negotiations. …
Persistent link: https://www.econbiz.de/10015061156
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The Wage-Price Spiral Industrial Country Evidence and Implications
Kandil, Magda - 2006
Using quarterly time-series data for a sample of twelve industrial countries, the paper investigates the dynamics of nominal wage and price adjustments in the face of aggregate demand shocks. The evidence illustrates patterns of the wage-price spiral and accompanying fluctuations. During...
Persistent link: https://www.econbiz.de/10012782690
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The dynamics of balanced expansion in monetary economies with sovereign debt
Böhm, Volker - 2018 - Version: September 26, 2018
exist two or no balanced paths while stationary equilibria with zero inflation exist only on a small (non-open) set of … and stability are influenced in a decisive way by fiscal and monetary parameters determining steady state inflation rates …
Persistent link: https://www.econbiz.de/10011903801
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The Empirics of Foreign Exchange Intervention in Emerging Market Countries : The Cases of Mexico and Turkey
Guimaraes, Roberto F. - 2006
This paper analyzes the effects of intervention on the level and volatility of the exchange rate in Mexico and Turkey … intervention. In Mexico, foreign exchange sales have a small impact on the exchange rate level and raise short-term volatility …, while in Turkey, intervention does not appear to affect the exchange rate level but reduces its shortterm volatility. In …
Persistent link: https://www.econbiz.de/10012783149
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The Effects of Exchange Rate Fluctuations on Economic Activity in Turkey
Kandil, Magda - 2018
components of aggregate demand in Turkey. The theoretical model decomposes movements in the exchange rate into anticipated and … growth of real output and the demand for investment and exports, while raising price inflation. Unanticipated exchange rate …
Persistent link: https://www.econbiz.de/10012915157