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to model and shock misperceptions, and parameter uncertainty. Targeting inflation in both consumer and intermediate goods …
Persistent link: https://www.econbiz.de/10005721067
ZLB constraints, the anticipation of future ZLB episodes creates a trade-off between inflation and output stabilization …. As a consequence, inflation systematically falls below target even when the policy rate is above zero. A conservative …
Persistent link: https://www.econbiz.de/10011115660
In this paper, we consider whether long-term inflation expectations have become better anchored in Brazil, Chile, and … Mexico. We do so using survey-based measures as well as financial market-based measures of long-term inflation expectations …, where we construct the market-based measures from daily prices on nominal and inflation-linked bonds. This paper is the …
Persistent link: https://www.econbiz.de/10010784200
expected inflation. The inability of the Fed to maintain a credible commitment to low interest rates in the face of increased … government spending and rising inflation led to the Fed-Treasury Accord of March 1951. Following the Accord, the external …
Persistent link: https://www.econbiz.de/10010787050
Persistent link: https://www.econbiz.de/10010725208
a speech at the Stanford Institute for Economic Policy Research Economic Summit, Stanford, California; February 11, 2005
Persistent link: https://www.econbiz.de/10010725583
Persistent link: https://www.econbiz.de/10005717707
This paper studies the sources of economic fluctuations in three key Latin American countries (Argentina, Brazil, and Mexico) using a dynamic panel model, distinguishing between external and domestic shocks. The primary motivation is to examine the implications for the choice of monetary and...
Persistent link: https://www.econbiz.de/10005368163
In this paper we develop a modified "early warning system" (EWS) approach to identifying the roles of domestic and external factors in Latin America's crises. Several probit models of balance-of-payments crises, based on different identified sets of crisis dates, were estimated for six Latin...
Persistent link: https://www.econbiz.de/10005368350
We study the pricing response of U.S. supermarkets to large demand shocks triggered by labor conflicts, mass population relocation, and shopping sprees around major snowstorms and hurricanes. Our focus on demand shocks is novel in the empirical literature that uses large datasets of individual...
Persistent link: https://www.econbiz.de/10010784151