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Substitution Between Domestic and Foreign Currency Loans in Central Europe. Do Central Banks Matter?
Brzoza-Brzezina, Michal - 2010
, based on a panel of four biggest Central European countries (the Czech Republic, Hungary, Poland and Slovakia) confirm …
Persistent link: https://www.econbiz.de/10013144575
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Policy Rate Decisions and Unbiased Parameter Estimation in Typical Monetary Policy Rules
Podpiera, Jirí - 2021
Policymakers do not always follow a simple rule for setting policy rates for various reasons and thus their choices are co-driven by a decision to follow a rule or not. Consequently, some observations are censored and cause bias in conventional estimators of typical Taylor rules. To account for...
Persistent link: https://www.econbiz.de/10013317042
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Potential Output in DSGE Models
Vetlov, Igor - 2011
In view of the increasing use of Dynamic Stochastic General Equilibrium (DSGE) models in the macroeconomic projections and the policy process, this paper examines, both conceptually and empirically, alternative notions of potential output within DSGE models. Furthermore, it provides historical...
Persistent link: https://www.econbiz.de/10013124588
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The Impact of Monetary Policy and Exchange Rate Shocks in Poland : Evidence from a Time-Varying VAR
Arratibel, Olga - 2014
effect. (2) Consumer prices appear more responsive to an interest rate shock during the first half of our sample, when Poland … experienced high inflation. The impact of an exchange rate shock on prices seems to slightly decrease across time …
Persistent link: https://www.econbiz.de/10013060040
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Policy rate decisions and unbiased parameter estimation in typical monetary policy rules
Podpiera, Jirí - 2007
Policymakers do not always follow a simple rule for setting policy rates for various reasons and thus their choices are co-driven by a decision to follow a rule or not. Consequently, some observations are censored and cause bias in conventional estimators of typical Taylor rules. To account for...
Persistent link: https://www.econbiz.de/10011604817
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The external finance premium in the euro area A useful indicator for monetary policy?
Gelain, Paolo - 2010
ingredient to model. In fact, I found that the estimated premium is a very powerful predictor of inflation. It overcomes, in …
Persistent link: https://www.econbiz.de/10011605217
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Euro area inflation persistence
Batini, Nicoletta - 2002
This paper presents evidence on the lag between monetary policy actions and the response of inflation in the euro area … monetary policy regime thereafter. Results based on alternative definitions of inflation persistence support these findings …, although, they suggest that at the country level, a drop in German inflation persistence and a sizeable shift in the mean of …
Persistent link: https://www.econbiz.de/10011604247
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Counterfeiting and inflation
Monnet, Cyril - 2005
creating inflation). Finally, I show that the highest welfare level is achieved when counterfeiting is costly, or when the …
Persistent link: https://www.econbiz.de/10011604558
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Welfare implications of Calvo vs. Rotemberg pricing assumptions
Lombardo, Giovanni; Vestin, David - 2007
This paper compares the welfare implications of two widely used pricing assumptions in the New-Keynesian literature: Calvo-pricing vs. Rotemberg-pricing. We show that despite the strong similarities between the two assumptions to a first order of approximation, in general they might entail...
Persistent link: https://www.econbiz.de/10011604816
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Price setting before and during the pandemic: Evidence from Swiss consumer prices
Rudolf, Barbara; Seiler, Pascal - 2022
synchronized within rather than across stores. Time variations in inflation can be attributed mainly to variations in the frequency …
Persistent link: https://www.econbiz.de/10014374335