Similar Search Results

Does monetary policy credibility help in anchoring inflation expectations? : evidence from six inflation targeting emerging economies

Güler, Aslı - In: Journal of central banking theory and practice 10 (2021) 1, pp. 93-111

extent to which inflation expectations are formed by the announced targets. As the credibility of the central bank increases … target. Credibility enables expectation to be formed in a forward-looking way by weakening its connection with the past. This … study aims to contribute to the literature concerning the effects of credibility on monetary policy. For this purpose, using …

Persistent link: https://www.econbiz.de/10012548972

Exchange rate targeting versus inflation targeting : empirical analysis of the impact on employment and economic growth

Krušković, Borivoje - In: Journal of central banking theory and practice 9 (2020) 2, pp. 67-85

This paper analyses the effects of two alternative monetary strategies (exchange rate targeting and inflation targeting) on economic growth and employment. On the panel of 18 countries for the period from 1996 to 2013, I tested the hypothesis that countries in exchange rate targeting have a...

Persistent link: https://www.econbiz.de/10012305750

Monetary policy between stability and growth

Fabris, Nikola - In: Journal of central banking theory and practice 13 (2024) 1, pp. 27-42

The global financial crisis and the coronavirus pandemic were marked by expansionary policies of key central banks in an attempt to stop the recession. The degree of expansiveness of monetary policy was unprecedented. As a result of expansionary policies, global inflation has been present since...

Persistent link: https://www.econbiz.de/10014496247

The primary goal of monetary policy : reflections on the nature of the problem

Hetmańczuk, Adam - In: Central European review of economics and management : CEREM 5 (2021) 1, pp. 77-101

Aim: In this article, the state of the discourse concerning the final goal of the modern central bank is presented, in particular the aim of price stability, understood as low and stable inflation. Design/Research methods: The article was prepared on the basis of scientific publications in the...

Persistent link: https://www.econbiz.de/10013198396

Monetary regimes with two nominal anchors : are they possible?

Fabris, Nikola - In: Journal of central banking theory and practice 14 (2025) 1, pp. 5-19

The traditional approach to monetary policy, which relied on one instrument to achieve a single goal, has proven ineffective during recent periods of global instability. In response to the challenges that this traditional framework could not address, non-standard monetary policy instruments have...

Persistent link: https://www.econbiz.de/10015375710

Structural estimates of the South African sacrifice ratio

Gereziher, Hayelom Yrgaw; Nuru, Naser Yenus - 2021

This paper estimates the output cost of fighting inflation-the sacrifice ratio-for the South African economy using quarterly data spanning the period 1998Q1-2019Q3. To compute the sacrifice ratio, the structural vector autoregressive model developed by Cecchetti and Rich (2001) based on...

Persistent link: https://www.econbiz.de/10012422994

Looking into the rear-view mirror : lessons from Japan for the Eurozone and the U.S?

Siklos, Pierre L. - In: Asia and the global economy : AGE 1 (2021) 1, pp. 1-20

This paper reconsiders the narratives surrounding Japan's economic performance since the 1980s in relation to the experiences of the U.S. and the Eurozone. There are important differences between these three economies and some striking parallels. It is found that the poor reputation of the Bank...

Persistent link: https://www.econbiz.de/10012816140

The possible unemployment cost of average inflation below a credible target : a replication study of Svensson (American Economic Journal: Macroeconomics, 2015)

Oraby, Ramy - In: Journal of comments and replications in economics 1 (2022), pp. 1-21

This paper replicates the main analysis of Svensson (2015) with some expansion to the original analysis, mainly for the United States. Overall, the replication exercise successfully confirms the conclusions of Svensson (2015). In both Sweden and the United States, empirical evidence sup- ports...

Persistent link: https://www.econbiz.de/10013179358

Monetary policy rule and taylor principle in Mongolia : GMM and DSGE approaches

Taguchi, Hiroyuki; Gunbileg, Ganbayar - In: International Journal of Financial Studies : open … 8 (2020) 4/71, pp. 1-16

This article aims to examine the monetary policy rule under an inflation targeting in Mongolia with a focus on its conformity to the Taylor principle, through two kinds of approaches: a monetary policy reaction function by the generalized-method-of-moments (GMM) estimation and a New Keynesian...

Persistent link: https://www.econbiz.de/10012322123

Central bank intervention in the inflation targeting

Krušković, Borivoje D. - In: Journal of central banking theory and practice 11 (2022) 1, pp. 67-85

This paper analyses the impact of central bank interven-tions in the inflation targeting regime. The results of empirical stud-ies in this paper show if there is a shock of the exchange rate, which would lead to depreciation of the exchange rate, a central bank may decide to mush instability on...

Persistent link: https://www.econbiz.de/10012805926