Showing 1 - 10 of 13
This paper has examined the evolution of disagreement over the short-term inflation outlook in nine advanced economies … against which this concept is evaluated and the role of potential shocks to the inflation process such as the global financial …
Persistent link: https://www.econbiz.de/10012929810
This paper examines the evolution of disagreement over the short-term inflation outlook in nine advanced economies … against which this concept is evaluated and the role of potential shocks to the inflation process such as the global financial …
Persistent link: https://www.econbiz.de/10012958300
Empirical evidence on the potential impact of central bank policies on government bond yields at the effective lower bound (ELB) is presented for nine economies. We quantify the content of central bank communications and consider international policy spillovers. At the ELB, yields at the...
Persistent link: https://www.econbiz.de/10012958299
This paper extends the Dincer and Eichengreen (2007) index of central bank transparency. Improvements in transparency are notable in Central and Eastern Europe, while the index has shown much smaller rises in most other parts of the world. The pattern observed by Dincer and Eichengreen,...
Persistent link: https://www.econbiz.de/10013138709
inflation averse than the ECB. In contrast, the shadow committee of the BoE proposes a more hawkish monetary policy stance than …
Persistent link: https://www.econbiz.de/10013063248
This paper uses the credit-friction model developed by C'urdia and Woodford, in a series of papers, as the basis for attempting to mimic the behavior of credit spreads in moderate as well as in times of crisis. We are able to generate movements in representative credit spreads that are, at...
Persistent link: https://www.econbiz.de/10013115635
Inflation is a monetary policy outcome, but in the short to medium term, price and wage decisions are co-determined by …, deliberately simplified messages, most of the public tends to access inflation-related information through the media. In this paper …, we examine South African newspaper articles to identify how inflation is presented in the media and the role of the media …
Persistent link: https://www.econbiz.de/10012848743
In this paper we investigate dynamics of global inflation and short-run inflation expectations. We estimate a global … inflationary pressure that could drive up inflation expectations: domestic aggregate demand and supply shocks as well as a global … increase in oil price inflation. Our results indicate that inflation expectations tend to increase as inflation accelerates …
Persistent link: https://www.econbiz.de/10012907659
There is no consensus over the importance of “global forces” on inflation. This study explores the role of structural … breaks in the inflation process, and their timing, whether it is common across countries, and the extent to which ‘global … forces' are relevant. Three conclusions stand out. Global inflation impacts inflation in both AE and EME, but the impact is …
Persistent link: https://www.econbiz.de/10012833362
Content analysis is used to analyze 60 years of FOMC minutes. Since there is no unique algorithm to quantify content two different algorithms are applied. Wordscores compares content relative to a chosen benchmark while DICTION is an alternative algorithm that is specifically designed to capture...
Persistent link: https://www.econbiz.de/10012863056