Showing 1 - 10 of 10
resilient to external shocks. Enhancing the credibility of the inflation target would provide the monetary authorities with more …. Améliorer la crédibilité de l’objectif d’inflation donnerait aux autorités monétaires plus de latitude pour réagir aux chocs …
Persistent link: https://www.econbiz.de/10008854030
reduce inflation and limit the real appreciation of the rouble. Given the strength of Russia’s balance of payments during the … interventions which were only partially sterilised. As a result, inflation remained persistently high. During the global financial … greater exchange rate flexibility should be permitted since (i) commodity exporting countries can successfully run inflation …
Persistent link: https://www.econbiz.de/10008498033
-- inflation, the exchange rate and unemployment -- suggest a “crisis” situation. After controlling for these factors, the paper …'autres indicateurs macroéconomiques -- inflation, taux de change ou niveau de chômage -- sont très dégradés. En contrôlant ces variables …
Persistent link: https://www.econbiz.de/10005045818
investigates the implications of euro adoption in the Slovak Republic for inflation and interest rates with an attempt to quantify … raise the Slovak inflation rate above the euro area level. As capital markets have already fully priced in euro membership … to counter any such developments.<P>L'adoption de l'euro par la République slovaque : les implications pour l'inflation …
Persistent link: https://www.econbiz.de/10005045772
This paper addresses the question of whether and how long-term financial trends may have modified the transmission mechanism from monetary policy decisions to economic activity. The focus is on longterm changes, abstracting from the disruptions created by the 2007-08 financial turmoil which are...
Persistent link: https://www.econbiz.de/10005045625
inflation and interest rate expectations; developments in ex ante saving-investment balances, and shifts in investors. portfolio … l’inflation et les anticipations de taux d’intérêt; l’évolution des soldes ex ante d’épargne et d’investissement et les …
Persistent link: https://www.econbiz.de/10005045683
This paper addresses the question of whether and how monetary policy ease may lead to excesses in financial and real asset markets and ultimately result in financial dislocation. It presents evidence suggesting that periods when short-term interest rates have been persistently and significantly...
Persistent link: https://www.econbiz.de/10005045779
The estimated medium-term impact of Basel III implementation on GDP growth is in the range of -0.05 to -0.15 percentage point per annum. Economic output is mainly affected by an increase in bank lending spreads as banks pass a rise in bank funding costs, due to higher capital requirements, to...
Persistent link: https://www.econbiz.de/10008838314
This paper analyses recent large movements in the yield spread for sovereign bonds as between Germany and other euro area countries. While the general increase in risk aversion that has characterised the financial crisis is an important factor on its own, it is found that this has also magnified...
Persistent link: https://www.econbiz.de/10005005487
The 2007-2009 period has been characterised by an oil shock followed by a financial crisis. Higher oil prices and the prospect of higher borrowing costs are likely to reduce the productive potential of OECD economies. The present study provides illustrative numerical estimates of the impact...
Persistent link: https://www.econbiz.de/10008461036