Showing 1 - 10 of 72
This paper assesses the role of international commodity prices, cyclical fluctuations, and convergence in driving inflation in 18 European emerging economies. Country specific VARs and panel estimates indicate that international commodity price shocks have a significant impact on domestic...
Persistent link: https://www.econbiz.de/10014404293
Economists generally accept the proposition that high inflation rates generate inefficiencies that reduce society''s welfare and economic growth. However, determining the causes of the worldwide diversity of inflationary experiences is an important challenge not yet satisfactorily confronted by...
Persistent link: https://www.econbiz.de/10014400964
Global excess liquidity is sometimes believed to limit sovereign monetary policy even in large economies, including the euro area. There is much discussion about what constitutes global excess liquidity and our approach adjusts liquidity for longer-term interest rate and output effects. We find...
Persistent link: https://www.econbiz.de/10014404266
Co-movement (synchronicity) in inflation rates among a set of 13 emerging and developing countries in Asia is shown to … developing economies, in Asia at least …
Persistent link: https://www.econbiz.de/10012102097
This paper examines the progress made in four Asian transition economies—China, Lao P.D.R., Vietnam, and Mongolia—to market-based systems. Overall, these economies appear to have had a more favorable experience with inflation stabilization and output growth than that of transition economies...
Persistent link: https://www.econbiz.de/10014401125
There is considerable evidence from industrial countries that the output gap is an important determinant of inflation. We examine whether the gap model also works in developing, newly industrializing, and industrial Asian economies. Our output gaps are based on a new nonparametric estimation...
Persistent link: https://www.econbiz.de/10014396390
, in individual emerging market and developing countries in Asia. Notably, we provide evidence that the global monetary … condition is partly responsible for the current account surplus in Asia. We also draw implications for monetary policy …
Persistent link: https://www.econbiz.de/10014397494
The perception that Asia''s inflation dynamics is driven by idiosyncratic supply shocks implies, as a corollary, that … there is little scope for a policy reaction to a build-up of inflationary pressures. However, Asia''s fast growth and … may now play a larger role than in the past. This paper presents a quantitative analysis of inflation dynamics in Asia …
Persistent link: https://www.econbiz.de/10014397742
This paper provides an overview of inflation developments in Vietnam in the years following the doi moi reforms, and uses empirical analysis to answer two key questions: (i) what are the key drivers of inflation in Vietnam, and what role does monetary policy play? and (ii) why has inflation in...
Persistent link: https://www.econbiz.de/10012667557
Persistent link: https://www.econbiz.de/10010441876