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This paper presents an empirical investigation of inflation dynamics in Libya over the period 1964–2010, using … Libya had a noteworthy impact on consumer price inflation. Collectively, our estimates indicate that the deviations from an … cointegration and error correction models. While inflation inertia is found to be a key determinant of consumer price inflation, the …
Persistent link: https://www.econbiz.de/10013082860
The paper analyses the reasons for Japan's persistently low inflation since the bursting of the Japanese bubble economy … (low inflation conundrum). It is shown that Japan experienced a structural break from a high-growth period with relatively … high inflation to a low-growth period with exceptionally low inflation since the early 1990s. We show based on a stylized …
Persistent link: https://www.econbiz.de/10013284915
Modern monetary theory (MMT) has grown in popularity in recent years. Several central bankers have made passing comments about it. However, the publication of two papers by Drumetz/Pfister of the Banque de France in 2021 represents the first attempt at a more systematic assessment of MMT by two...
Persistent link: https://www.econbiz.de/10014433715
The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...
Persistent link: https://www.econbiz.de/10010385761
to support the standard objection to such policies: that they will lead to uncontrollable inflation. Theoretical models … support for a relationship between monetary financing and inflation. The findings lend support to recent calls for explicit …
Persistent link: https://www.econbiz.de/10011389179
Persistent link: https://www.econbiz.de/10009726436
This paper presents an empirical investigation of inflation dynamics in Libya over the period 1964–2010, using … Libya had a noteworthy impact on consumer price inflation. Collectively, our estimates indicate that the deviations from an … cointegration and error correction models. While inflation inertia is found to be a key determinant of consumer price inflation, the …
Persistent link: https://www.econbiz.de/10014395269
Global inflation has risen sharply from its lows in mid-2020, on rebounding global demand, supply bottlenecks, and … soaring food and energy prices, especially since the Russian Federation's invasion of Ukraine. Markets expect inflation to … developments, the risk of stagflation-a combination of high inflation and sluggish growth-has risen. The recovery from the …
Persistent link: https://www.econbiz.de/10013256317
Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained some acceptance in the financial sector and among some politicians, it has come under strong criticisms from all sides of the academic spectrum and from conservative political...
Persistent link: https://www.econbiz.de/10012795769
markets now expect is not enough to reduce inflation to targets, experience from previous global recessions suggests that the …
Persistent link: https://www.econbiz.de/10013383374