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Beetsma, Roel; Uhlig, Harald - C.E.P.R. Discussion Papers - 1997

corrects the average debt bias, inflation, which is attuned to the Union-average debt level, is more stable. …

Persistent link: https://www.econbiz.de/10005661884

Structural Convergence Under Reversible and Irreversible Monetary Unification

Beetsma, Roel; Jensen, Henrik - C.E.P.R. Discussion Papers - 1999

distortions (and, hence, high inflation) is admitted into a monetary union once its economic structure has converged sufficiently … the union again later, convergence stops for a while after the high inflation country has joined. With irreversible …

Persistent link: https://www.econbiz.de/10005661930

Delegating Optimal Monetary Policy Inertia

Bilbiie, Florin Ovidiu - C.E.P.R. Discussion Papers - 2009

regimes that are nested within this framework: inflation, output-gap growth and nominal income growth targeting; and inflation …

Persistent link: https://www.econbiz.de/10008459765

Prospects for Output and Employment Growth with Steady Inflation

Dungey, M.; Pitchford, J. - Research School of Economics, College of Business and … - 1998

nominal interest and inflation rates. For close to a decade the principal focus of monetary policy has been on inflation … consideration, but at other times inflation control has been the major objective. We argue that this concentration on inflation has …

Persistent link: https://www.econbiz.de/10004971339

The Natural Rate Hypothesis: An idea past its sell-by-date

Farmer, Roger E A - C.E.P.R. Discussion Papers - 2013

Central banks throughout the world predict inflation with new-Keynesian models where, after a shock, the unemployment …

Persistent link: https://www.econbiz.de/10011084150

Animal Spirits, Persistent Unemployment and the Belief Function

Farmer, Roger E A - C.E.P.R. Discussion Papers - 2010

This paper presents a theory of the monetary transmission mechanism in a monetary version of Farmer’s (2009) model in which there are multiple equilibrium unemployment rates. The model has two equations in common with the new-Keynesian model; the optimizing IS curve and the policy rule. It...

Persistent link: https://www.econbiz.de/10008692320

Do Oil Price Increases Cause Higher Food Prices?

Baumeister, Christiane; Kilian, Lutz - C.E.P.R. Discussion Papers - 2013

U.S. retail food price increases in recent years may seem large in nominal terms, but after adjusting for inflation …

Persistent link: https://www.econbiz.de/10011084483

Competition, Globalization and the Decline of Inflation

Chen, Natalie; Imbs, Jean; Scott, Andrew - C.E.P.R. Discussion Papers - 2004

restraint caused by greater imports, assuming unchanged monetary policy, can explain a fall in inflation of up to 0.14% per … annum. The most substantial impact on inflation arises, however, from the role of lower markups in reducing the inflation …

Persistent link: https://www.econbiz.de/10005667140

Anatomy of Voting Behaviour and Attitudes During Post-Communist Transition Czech Republic 1990-98

Doyle, Orla; Fidrmuc, Jan - C.E.P.R. Discussion Papers - 2003

How does implementing harsh economic reforms influence voting behaviour? And how do the patterns of political support change over the course of transition? We analyse these issues using data from a sequence of 11 opinion surveys conducted in the Czech Republic between 1990-98. We find that -...

Persistent link: https://www.econbiz.de/10005504230

'Crony Capitalism', Bail Outs and Bank Runs

Femminis, Gianluca; Ruggerone, Luigi - C.E.P.R. Discussion Papers - 2001

We present a simple model where bank runs are possible and we analyse the role of subsidization of future investment in this setting. We find that such a policy exacerbates the short-run liquidity problem for banks. Moreover, we highlight that a ‘shift in expectations’ about the keeping of...

Persistent link: https://www.econbiz.de/10005504263