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La réaction du marché financier face à différentes sources de signal de la politique monétaire au Canada

Paquet, Alain; Perez, Thierry - Centre de Recherche sur l'Emploi et les Fluctuations … - 1993

En considérant la partie non anticipée des annonces monétaires de M1, les changements du taux d'escompte et les changements du taux des avances à un jour comme des signaux potentiels de la politique monétaire canadienne, nous vérifions l'existence d'un impact significatif de ces signaux...

Persistent link: https://www.econbiz.de/10005611921

Staggered Contracts and Business Cycle Persistence

Huang, Kevin X. D.; Liu, Zheng - Centre de Recherche sur l'Emploi et les Fluctuations … - 1998

Staggered price and staggered wage contracts are commonly viewed as similar mechanisms in generating persistent real effects of monetary shocks. In this paper, we distinguish the two mechanisms in a dynamic stochastic general equilibrium framework. We show that, although the dynamic price...

Persistent link: https://www.econbiz.de/10005611954

On the determinants of inflation in Italy: evidence of cost-push effects before the European Monetary Union

Giancarlo, Bertocco; Luca, Fanelli; Paolo, Paruolo - Facoltà di Economia, Università degli Studi dell'Insubria - 2002

This paper provides evidence on price markup and inflation dynamics in Italy over the period 1970-1998. We investigate … the price mark-up on imported and labor costs and its relation to inflation, using cointegration techniques. It is found … that, despite different policy regimes across decades, the relation between the markup and inflation is remarkably stable …

Persistent link: https://www.econbiz.de/10005612139

EVALUATING THE SEIGNORAGE COSTS OF EMU INTEGRATION IN CASE OF ROMANIA

Zaman, Constantin - In: Journal for Economic Forecasting (2001) 3, pp. 24-58

reduction of inflation. In this context, the flow of seignorage revenues got each period by the central bank were used for cheap … revenues. Another result is that there is no strong correlation between seignorage and inflation. …

Persistent link: https://www.econbiz.de/10005612200

THE DIFFICULT TASK OF MAINTAINING CREDIBILITY

Croitoru, Lucian; Tarhoaca, Cornel - In: Journal for Economic Forecasting (2003) 1, pp. 5-14

inflation will continue in 2003, given the fact that the relatively high surplus on the forex market led in 2001 and 2002 … towards real appreciation of ROL against the EUR-USD basket, thus decreasing inflation. In the situation of a negatively …

Persistent link: https://www.econbiz.de/10005612225

SUBDUING HIGH INFLATION IN ROMANIA. HOW TO BETTER MONETARY AND EXCHANGE RATE MECHANISMS?

Daianu, Daniel; Vranceanu, Radu - In: Journal for Economic Forecasting (2003) 3, pp. 5-36

: 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/10005612236

MONETARY CONDITIONS INDEX IN ROMANIA. SOME CONSIDERATIONS

Pelinescu, Elena; Slavoiu, Ovidiu; Salater, Wilhelm; … - In: Journal for Economic Forecasting (2000) 3, pp. 69-74

Romania may take into consideration the construction of a Monetary Conditions Index (MCI) as an indicator of the degree of tightening or easing in monetary policy. The authors raise the question whether the current development stage of financial markets and the progress in designing and...

Persistent link: https://www.econbiz.de/10005612266

The Monetary Transmission Mechanism in Italy: The Credit Channel and a Missing Ring

Fiorentini, Riccardo; Tamborini, Roberto - In: Giornale degli Economisti 60 (2001) 1, pp. 1-42

Research on how money affects economic activity has revived interest in the socalled "credit view". In this paper we focus on current developments in the credit view in order to assess the results of the past decade's research and its legacy for macroeconomics and monetary policy. We expound the...

Persistent link: https://www.econbiz.de/10005612307

Currency Substitution and Exchange Rate Dynamics: A Note.

Koustas, Z.; Ng, K.S. - Department of Economics, Brock University - 1989

Persistent link: https://www.econbiz.de/10005612462

On the Long-Run Fisher Effect: A Fractional Cointegration Approach.

Koustas, Z. - Department of Economics, Brock University - 1998

Tests for fractional conintegration are employed to provide evidence on the validity of the long-run Fisher effect. We use post-war monthly data for the 3-, 6-, 12-month US Treadury bill rate. We conclude that the rejection of a "full" Fisher effect that results from the use of tests for integer...

Persistent link: https://www.econbiz.de/10005612467