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States and the euro area. For many of the basic items in the basket of goods used to estimate inflation, the effects of oil … through to core inflation (or rather to inflation excluding food and energy products) by means of macroeconomic factors; while …
Persistent link: https://www.econbiz.de/10012941998
that the oil price passes through core inflation only via its effect on the whole economy. This pass-through is estimated …
Persistent link: https://www.econbiz.de/10011710173
-run relationship between the vector of analyzed world trade prices and macro variables in all EMDCs. However, based on the short …
Persistent link: https://www.econbiz.de/10013247140
, consumption, investment and unemployment) has a distinct dynamic from disagreement about nominal variables (inflation and interest … nominal series. Country-by-country regressions for inflation and interest rates reveal that both the level of disagreement and …
Persistent link: https://www.econbiz.de/10010425866
Persistent link: https://www.econbiz.de/10010394237
The secular decline in the equilibrium real interest rate observed over the past decades has materially limited the room for policy-rate reductions in recessions, and has led to a marked increase in the incidence of episodes where policy rates are likely to be at, or near, the effective lower...
Persistent link: https://www.econbiz.de/10012613426
near-term economic outlook, characterised by persistently low nominal interest rates and inflation, and in a lasting low …-real-interest-rate world. Our findings suggest that, if unaddressed, the lower bound can have very substantial costs in terms of worsened …
Persistent link: https://www.econbiz.de/10012137689
near-term economic outlook, characterised by persistently low nominal interest rates and inflation, and in a lasting low …-real-interest-rate world. Our findings suggest that, if unaddressed, the lower bound can have very substantial costs in terms of worsened …
Persistent link: https://www.econbiz.de/10012149021
The secular decline in the equilibrium real interest rate observed over the past decades has materially limited the room for policy-rate reductions in recessions, and has led to a marked increase in the incidence of episodes where policy rates are likely to be at, or near, the effective lower...
Persistent link: https://www.econbiz.de/10012594057
A common assumption in macroeconomics is that energy prices are determined in a world-wide, rather frictionless market …
Persistent link: https://www.econbiz.de/10013493001