Similar Search Results

Monetary Misconceptions: New and Old Paradigmata and Other Sad Tales

Buiter, Willem H. - C.E.P.R. Discussion Papers - 2000

Several recent studies imply that the response of national saving to fiscal policy is non-monotonic. In this paper, we use two data sets to search for the circumstances in which such non-monotonic responses arise: one refers to a sample of OECD countries, as in previous studies, and one to a...

Persistent link: https://www.econbiz.de/10005124252

Sources of Inflation Persistence in the Euro Area

Cournède, Boris - 2005

In recent years, inflation in the euro area has failed to decelerate decisively while cyclical slack built up in the economy. Is this phenomenon more than a peculiarity in recent data? Is it related to structural policy settings? Econometric analysis conducted on two decades of quarterly data...

Persistent link: https://www.econbiz.de/10012444759

The Drivers of Post-Pandemic Inflation

Giannone, Domenico; Primiceri, Giorgio E. - National Bureau of Economic Research - 2024

Post-covid inflation was predominantly driven by unexpectedly strong demand forces, not only in the United States, but also in the Euro Area. In comparison, the inflationary impact of adverse supply shocks was less pronounced, even though these shocks significantly constrained economic activity....

Persistent link: https://www.econbiz.de/10015056186

Tracking the Euro

Koen, Vincent; Boone, Laurence; de Serres, Alain; … - 2001

During the first two years of monetary union, the euro's weakness surprised most market participants. Explanations proliferated ranging from fundamentals such as differences in growth prospects to psychological factors such as herd behaviour, but no single story fully accounts for the observed...

Persistent link: https://www.econbiz.de/10012446955

L'Eurosystème : un mécanisme de transferts en faveur des pays déficitaires ?. Le débat

Grjebine, André - In: Revue de l'OFCE N° 126 (2012) 7, pp. 269-298

the Eurozone, TARGET2 (Trans-European Automated Real-Time Gross Settlement Express Transfer). They criticize it under … assistance to some European States in trouble against the interests of other States - chiefly Germany. The next point is in their … Eurozone countries, thereby putting deficit countries in a prominent position in terms of money creation within the Eurozone …

Persistent link: https://www.econbiz.de/10011187097

One Hundred Years of Exchange Rate Economics at The University of Chicago : 1892-1992

Edwards, Sebastian - National Bureau of Economic Research - 2023

In this paper I analyze the work on exchange rates and external imbalances by University of Chicago faculty members during the university's first hundred years, 1892-1992. Many people associate Chicago's views with Milton Friedman's advocacy for flexible exchange rates. But, of course, there was...

Persistent link: https://www.econbiz.de/10014447249

Monetary Policy without Moving Interest Rates : The Fed Non-Yield Shock

Boehm, Christoph E.; Kroner, T. Niklas - National Bureau of Economic Research - 2024

Existing high-frequency monetary policy shocks explain surprisingly little variation in stock prices and exchange rates around FOMC announcements. Further, both of these asset classes display heightened volatility relative to non-announcement times. We use a heteroskedasticity-based procedure to...

Persistent link: https://www.econbiz.de/10014576665

The fall in real long-term government bond yields : disentangling different drivers

Rawdanowicz, Łukasz; Hammouch, Mohamed; Kasai, Makoto - 2017

This paper contributes to the empirical literature investigating reasons for the fall in real interest rates in advanced economies. It focuses on selected drivers from three broad categories: demographic changes; imbalances between supply of and demand for safe assets; and monetary policy at...

Persistent link: https://www.econbiz.de/10011700540

Türkiye's Homemade Crises

Kara, Ali Hakan; Simsek, Alp - National Bureau of Economic Research - 2025

Türkiye's response to post-pandemic inflation is a cautionary tale of how political pressure for low interest rates can create macroeconomic instabilities. While central banks worldwide raised interest rates to combat inflation in 2021-2023, Turkish authorities pursued the opposite strategy:...

Persistent link: https://www.econbiz.de/10015464455

The Importance of Sound Monetary Policy : Some Lessons for Today from Canada's Experience with Floating Exchange Rates Since 1950

Bordo, Michael D.; Siklos, Pierre L. - National Bureau of Economic Research - 2023

In this paper we revisit the Canadian experience with floating exchange rates since 1950. Canada was a pioneer in successfully adopting a floating exchange rate during the Bretton Woods pegged exchange rate regime. Since then, most advanced countries have followed the Canadian example

Persistent link: https://www.econbiz.de/10014372411