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Balkan and Mediterranean Candidates for European Union Membership: The Convergence of their Monetary Policy with that of the European Central Bank

Brada, Josef C.; Kutan, Ali M. - William Davidson Institute, University of Michigan - 2002

We compare the convergence with German monetary policy of the Balkan and Mediterranean country candidates for EU membership with that of countries that have recently joined the EU. Significant linkages exist between German base money stock and that of recent members of the EU; the same holds...

Persistent link: https://www.econbiz.de/10005652568

Subduing High Inflation in Romania. How to Better Monetary and Exchange Rate Mechanisms?

Daianu, Daniel; Vranceanu, Radu - William Davidson Institute, University of Michigan - 2001

: the country has not been able to deliver steady growth, low unemployment and low inflation. This paper focuses on the …

Persistent link: https://www.econbiz.de/10005652669

Monetary Policy with Internal Central Bank Forecasting: A Case of Heterogenous Information

Mitra, Kaushik; Honkapohja, Seppo - Department of Economics, Royal Holloway University of London - 2004

Honkapohja and Mitra (2003) have analyzed the desirability of optimal and ad hoc interest rules in monetary policy when the forecasts of the private sector and the central bank are heterogenous but information is symmetric. Here we analyze the case of asymmetric information in which one party...

Persistent link: https://www.econbiz.de/10005652700

Fiscal Policy Effects in the European Union

Thams, Andreas - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2006

deliver a reasonable explanation for the differences in the pattern of inflation between the two countries. …

Persistent link: https://www.econbiz.de/10005652768

New Evidence on the Puzzles. Results from Agnostic Identification on Monetary Policy and Exchange Rates.

Scholl, Almuth; Uhlig, Harald - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2005

Past empirical research on monetary policy in open economies has found evidence of the ’delayed overshooting’, the ’forward discount’ and the ’exchange rate’ puzzles. We revisit the effects of monetary policy on exchange rates by applying Uhlig’s (2005) identification procedure...

Persistent link: https://www.econbiz.de/10005652771

Política econômica e credibilidade: evidências empíricas e técnicas econométricas [Economic policy and credibility: empirical evidence and econometric techniques]

Tejada, César A. O.; Portugal, Marcelo Savino - In: Nova Economia 14 (2004) 3, pp. 97-140

currently being used in the world today: monetary aggregate targets, exchange rate peg, inflation targets, and preventive …

Persistent link: https://www.econbiz.de/10005652835

O conceito de normalidade econômica marshalliano e o discricionarismo monetário de Keynes

Sicsú, João - In: Nova Economia 9 (1999), pp. 153-170

Persistent link: https://www.econbiz.de/10005652857

Does the Currency Board Matter? U.S. News and Argentine Financial Market Reaction

Hayo, Bernd; Neuenkirch, Matthias - Volkswirtschaft Abteilung, Fachbereich … - 2008

Using a GARCH model, we study the effects of U.S. monetary policy and macroeconomic announcements on Argentine money, stock, and foreign exchange markets over the period January 1998 to July 2007. We show, first, that both types of news have a significant impact on all markets. Second, there are...

Persistent link: https://www.econbiz.de/10005652887

A New Core Inflation Indicator for New Zealand

Giannone, Domenico; Matheson, Troy - C.E.P.R. Discussion Papers - 2007

This paper introduces a new indicator of core inflation for New Zealand, estimated using a dynamic factor model and … core indicator with a wide range of other ‘core inflation’ measures estimated from disaggregate consumer prices, such as … the weighted median and the trimmed mean. The medium term inflation target of Reserve Bank of New Zealand is used as a …

Persistent link: https://www.econbiz.de/10005656226

Measuring Monetary Policy in Open Economies

Bagliano, Fabio-Cesare; Favero, Carlo A.; Franco, Francesco - C.E.P.R. Discussion Papers - 1999

The empirical VAR literature on the monetary transmission mechanism in open economies has not yet provided a commonly accepted solution to the problem of simultaneity between interest rates and the exchange rate. In this paper we propose to solve the identification problem by using information...

Persistent link: https://www.econbiz.de/10005656246