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shows a considerable loss in both magnitude and significance of the inflation coefficient compared with the extended sample … that the point estimation of inflation is overall smaller than one-toone when the sample is split into either before and … drifting inflation coefficient, then the estimate is barely greater than one and often negative. Such a dynamics matches up …
Persistent link: https://www.econbiz.de/10010579008
This paper challenges previous empirical evidence on output-inflation trade-off described in the hybrid New Keynesian … backward-looking inflation components, in the Czech Republic for the periods 2000Q1 - 2012Q4 using Kalman filtration. My … findings come to surprising conclusions that (i) output gap has a (statistically) significant impact on Czech inflation …
Persistent link: https://www.econbiz.de/10011195094
I present evidence that higher frequency measures of inflation expectations outperform lower frequency measures of … inflation expectations in tests of accuracy, predictive power, and rationality. For decades, the academic literature has focused … on three survey measures of expected inflation: the Livingston Survey, the Survey of Professional Forecasters, and the …
Persistent link: https://www.econbiz.de/10009650037
In the following study the relation between the public debt and the inflation will be analysed. The transmission from … the public debt to the inflation through the money supply and long term interest rate will be shown. Based on these …
Persistent link: https://www.econbiz.de/10010970520
either the inflation or the output gap varies in terms of magnitude and/or statistical significance across the high and low … inflation regimes in all countries. In particular, the exchange rate has an impact in the former but not in the latter regime …
Persistent link: https://www.econbiz.de/10011500165
either the inflation or the output gap varies in terms of magnitude and/or statistical significance across the high and low … inflation regimes in all countries. In particular, the exchange rate has an impact in the former but not in the latter regime …
Persistent link: https://www.econbiz.de/10011522465
Persistent link: https://www.econbiz.de/10009759817
of inflation and GDP growth. I compute dynamic responses of inflation and GDP growth; asset purchases have significant …
Persistent link: https://www.econbiz.de/10012022250
A growing empirical literature has shown, based on structural vector autoregressions (SVARs) identified through sign restrictions, that unconventional monetary policies implemented after the outbreak of the Great Financial Crisis (GFC) had expansionary macroeconomic effects. In a recent paper,...
Persistent link: https://www.econbiz.de/10012023612
This paper employs a structural VAR framework with sign restrictions to estimate the effects of unconventional monetary policies of the European Central Bank since the Global Financial Crisis, mainly in their effectiveness towards bank lending. Using a variable for newly issued credit instead of...
Persistent link: https://www.econbiz.de/10011602464