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Monetary policy, determinacy, and learnability in the open economy
Bullard, James; Schaling, Eric - 2006
We study how determinacy and learnability of global rational expectations equilibrium may be affected by monetary policy in a simple, two country, New Keynesian framework. The two blocks may be viewed as the U.S. and Europe, or as regions within the euro zone. We seek to understand how monetary...
Persistent link: https://www.econbiz.de/10011604657
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Managed Floats to Damp Shocks like 1982-5 and 2006-9: Field and Laboratory Evidence for Chinese Interest in a Single World Currency
Pope, Robin; Selten, Reinhard; Kube, Sebastian; von … - 2009
-conflict model of exchange rate determination , and is within an umbrella theory of Pope, namely SKAT, the Stages of Knowledge Ahead … Theory. SKAT allows for risk effects from stages omitted in normal models, including those from (a) difficulties of agents in …
Persistent link: https://www.econbiz.de/10010274185
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When countries do not do what they say: Systematic discrepancies between exchange rate regime announcements and de facto policies
Bersch, Julia; Klüh, Ulrich H. - 2007
We study the apparent disconnect between what countries announce to be their exchange rate regime and what they de facto implement. Even though discrepancies between announcements and de facto polices are frequent, there is a lack of understanding of actual patterns and underlying reasons. We...
Persistent link: https://www.econbiz.de/10010427488
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Monetary policy under alternative exchange rate regimes in Central and Eastern Europe
Ziegler, Christina - 2012
Monetary policy in CEE is an important determinant in the wage bargaining process, because trade unions have to predict inflation as one component of future real wages. This paper scrutinizes whether countries in CEE that officially announce an inflation target are tempted to act...
Persistent link: https://www.econbiz.de/10010308235
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Monetary and Fiscal Policy in a Large Asymmetric Monetary Union - A Dynamic Three-Country Analysis
Clausen, Volker; Wohltmann, Hans-Werner - 2005
This paper analyzes the dynamic effects of anticipated monetary and fiscal policies in a large monetary union, which is characterized by asymmetric interest rate transmission. We explicitly solve the asymmetric three-country model using the decomposition methods of Aoki (1981) and Fukuda (1993)....
Persistent link: https://www.econbiz.de/10010296252
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Dynamische Effekte der Geld-und Fiskalpolitik in einem asymmetrischen Drei-Länder-Modell mit einer Währungsunion
Wohltmann, Hans-Werner - 2005
ist. Im Unterschied zur bestehenden Literatur zur Theorie einer Währungsunion und zur Theorie der internationalen …
Persistent link: https://www.econbiz.de/10010296253
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Währungspolitische Interdependenz der EU-Beitrittskandidaten und die Wahl eines geeigneten Wechselkurssystems
Jochem, Axel - 1999
geeignetes Wechselkurssystem der genannten Länder. Dabei erweisen sich die Wechselkurselastizitäten des Sozialproduktes, die …
Persistent link: https://www.econbiz.de/10010300396
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Die EWWU als Club: Positive und normative Implikationen für den Beitritt mittel- und osteuropäischer Reformstaaten
Sell, Friedrich L. - 1999
sind. Der gewählte Analyseansatz greift auf positive und normative Hinweise der Club Theorie zurück. Es wird zunächst … (Kosten und Nutzen des Beitritts) für eine bestmögliche Strategie der Wechselkurspolitik der Beitrittskandidaten zur … draws on positive and normative hints from club theory. The paper provides an analytical approach to determine ex-ante the …
Persistent link: https://www.econbiz.de/10010300401
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The damage from clean floats: From an anti-inflationary monetary policy
Pope, Robin; Selten, Reinhard; Kaiser, Johannes; Kube, … - 2007
embeds a new theory of exchange rate determination involving the uncontroversial power of fully cooperating central banks to … totally fix the exchange rate. The new model is within a broader theory that includes risk effects normally excluded, SKAT …, the Stages of Knowledge Ahead Theory. We use SKAT to analyse outliers in our experimental results, and indicate some new …
Persistent link: https://www.econbiz.de/10010274161
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Can the exchange rate regime influence corruption?
Popkova, Katherina - 2011
This paper analyses the influence of the exchange rate regime of a country on the level of tolerated corruption with a special focus on the interdependency of monetary and fiscal policies. Using a simple theoretical framework based on Barro-Gordon-Model I compare independent monetary policy with...
Persistent link: https://www.econbiz.de/10010281777