Search Results - subject:"buffer stock"

The Adjustment to Commodity Price Shocks in Chile, Colombia, and Peru

Roch, Francisco - 2017

This paper presents a comparative analysis of the macroeconomic adjustment in Chile,Colombia, and Peru to commodity terms-of-trade shocks. The study is done in two steps:(i) an analysis of the impulse responses of key macroeconomic variables to terms-of-tradeshocks and (ii) an event study of the...

Persistent link: https://www.econbiz.de/10012944968

Commodity Price Volatility and U.S. Monetary Policy : Commodity Price Overshooting Revisited

Siami-Namini, Sima - 2017

Commodity price volatility can create concern for central bank policy-makers. Recent commodity prices peaked in the aftermath of the financial crisis of 2007, and they have remained relatively volatile since. As they are often seen as being connected in a cause and effect relationship with...

Persistent link: https://www.econbiz.de/10012945975

International reserves before and after the global crisis : is there no end to hoarding?

Aizenman, Joshua; Cheung, Yin-Wong; Itō, Hiro - 2014

Persistent link: https://www.econbiz.de/10010412457

A direct test of the buffer-stock model of saving

Jappelli, Tullio (contributor); Padula, Mario (contributor); … - 2007

No. 2007/29 A Direct Test of the Buffer-Stock Model of Saving Tullio Jappelli, Mario Padula, and Luigi … to buffer income fluctuations. When wealth is below an optimal target, consumers try to increase their buffer stock of … wealth by saving more. When it is above target, they increase consumption. This important implication of the buffer stock …

Persistent link: https://www.econbiz.de/10003651355

The Buffer Stock Model Redux? An Analysis of the Dynamics of Foreign Reserve Accumulation

Cifarelli, Giulio; Paladino, Giovanna - 2007

demand, based on the buffer stock model, the short run dynamics governing the process of reserve accumulation (decumulation … that the buffer stock precautionary model explains the optimal reserve demand reasonably well. The corresponding VECMs are …

Persistent link: https://www.econbiz.de/10014052536

The macroeconomic forecasting model of the MNB

Békési, László; Köber, Csaba; Kucsera, Henrik; … - 2016

The lessons of the financial and macroeconomic crisis of 2007-2008 made the development of a new macroeconomic forecasting model necessary in the MNB. The model represents a small open economy. It is based on the DSGE philosophy but it deviates from it at several points. The new features of the...

Persistent link: https://www.econbiz.de/10011784379

Maximizing price stability in a monetary economy

Mosler, Warren; Silipo, Damiano Bruno - 2016

served by the selection of an alternative buffer stock policy that is directly managed by the ECB. …

Persistent link: https://www.econbiz.de/10011784654

Challenges of Low Commodity Prices for Africa

Christensen, Benedicte V. - 2016

The impressive growth of many African economies during the past decade was highly dependent on booming commodity markets and strong capital inflows, often related to commodities. With commodity prices falling and market expectations pointing to little reversal in the foreseeable future,...

Persistent link: https://www.econbiz.de/10014125188

Macroeconomic Stability in Resource-Rich Countries : The Role of Fiscal Policy

Bova, Elva - 2016

Resource-rich countries face large and persistent shocks, especially coming from volatile commodity prices. Given the severity of the shocks, it would be expected that these countries adopt countercyclical fiscal policies to help shield the domestic economy. Taking advantage of a new dataset...

Persistent link: https://www.econbiz.de/10012996065

Increasing Trends in the Excess Comovement of Commodity Prices

Ohashi, Kazuhiko - 2016

We investigate how the excess comovement of commodity prices, that is, the correlation in commodity returns after filtering out common fundamental shocks, has changed over the past three decades by developing the smooth-transition dynamic conditional correlation model that can capture long-run...

Persistent link: https://www.econbiz.de/10012998966