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The end of moderate inflation in three transition economies?

Brada, Josef C.; Kutan, Ali M. - Federal Reserve Bank of St. Louis - 1999

This paper examines the ending of moderate rates of inflation in three transition economies, the Czech Republic, Hungary and Poland at the end of 1998. We argue that the institutions for the conduct of monetary policy in these countries were relatively weak and that monetary policy was...

Persistent link: https://www.econbiz.de/10005707749

Inflation and economic activity in a multiple matching model of money

Laing, Derek; Li, Victor E.; Wang, Ping - Federal Reserve Bank of St. Louis - 1998

-theoretic environment with divisible money and goods. We find that in such a setting, a positive feedback between work and shopping effort …This paper investigates the relationship between money growth, inflation, and productive activity in a general … equilibrium model where search frictions motivate the transactions role of money. The use of a multiple matching technique, where …

Persistent link: https://www.econbiz.de/10005360588

The link between monetary aggregates and prices

Tatom, John A. - Federal Reserve Bank of St. Louis - 1990

Persistent link: https://www.econbiz.de/10005360621

The persistence of moderate inflation in the Czech Republic and the Koruna crisis of May 1997

Kutan, Ali M.; Brada, Josef C. - Federal Reserve Bank of St. Louis - 1998

monetary policy that sought to maintain high interest rates and to restrict the growth of the money supply. Surprisingly, given …

Persistent link: https://www.econbiz.de/10005352994

Inflation dynamics: a cross-country investigation

Wang, Peng-fei; Wen, Yi - Federal Reserve Bank of St. Louis - 2006

money growth is essentially zero. We investigate whether standard monetary models driven by monetary shocks are consistent … general equilibrium models with sticky information. ; Earlier title: Inflation and money: a puzzle …

Persistent link: https://www.econbiz.de/10005490909

Modeling monetary economies: an equivalence result

Camera, Gabriele; Chien, YiLi - Federal Reserve Bank of St. Louis - 2013

This paper offers a methodological contribution to monetary theory. First, it presents a model economy with cash-in-advance constraints, following the work of Lucas in the early 80’s; then, it specializes the model to preferences and shocks assumed in the Lagos and Wright (2005) framework....

Persistent link: https://www.econbiz.de/10011027345

Monetary policy neglect and the Great Inflation in Canada, Australia, and New Zealand

Nelson, Edward - Federal Reserve Bank of St. Louis - 2004

This paper studies the Great Inflation in Canada, Australia, and New Zealand. Newspaper coverage and policymakers' statements are used to analyze the views on the inflation process that led to the 1970s macroeconomic policies, and the different movement in each country away from 1970s views. I...

Persistent link: https://www.econbiz.de/10005360570

New economy - new policy rules?

Bullard, James; Schaling, Eric - Federal Reserve Bank of St. Louis - 2000

The U.S. economy appears to have experienced a pronounced shift toward higher productivity over the last five years or so. We wish to understand the implications of such shifts for the structure of optimal monetary policy rules in simple dynamic economies. Accordingly, we begin with a standard...

Persistent link: https://www.econbiz.de/10005360622

Inflation, monetary policy and stock market conditions: quantitative evidence from a hybrid latent-variable VAR

Bordo, Michael D.; Dueker, Michael J.; Wheelock, David C. - Federal Reserve Bank of St. Louis - 2009

This paper examines the association between inflation, monetary policy and U.S. stock market conditions during the second half of the 20th century. We use a latent-variable VAR to estimate the impact of inflation and other macroeconomic shocks on a latent index of stock market conditions. Our...

Persistent link: https://www.econbiz.de/10005352826

The great inflation: did the shadow know better?

Poole, William; Rasche, Robert H.; Wheelock, David C. - Federal Reserve Bank of St. Louis - 2008

The Shadow Open Market Committee was formed in 1973 in response to rising inflation and the apparent unwillingness of U.S. policymakers to implement policies necessary to maintain price stability. This paper describes how the Committee's policy views differed from those of most Federal Reserve...

Persistent link: https://www.econbiz.de/10005352943