Showing 1 - 10 of 2,851
Chile offers an example of a country that has overcome the fear of floating by reducing balance sheet mismatches, enhancing financial market development, as well as improving monetary, fiscal, and political institutions, and strengthening policy credibility. Under the floating regime, Chile's...
Persistent link: https://www.econbiz.de/10012252010
. There is strong evidence of a positive and significant association between the pass-through and the average inflation rate … across countries and periods. The inflation rate, moreover, dominates other macroeconomic variables in explaining cross …
Persistent link: https://www.econbiz.de/10014400110
standard estimation technique of exchange rate pass-through to inflation is extended to incorporate exchange rate volatility …Does the South African rand's relatively large volatility affect inflation? To shed some light on this question, a …. Estimated results suggest that higher exchange rate volatility tends to increase core inflation but to a relatively limited …
Persistent link: https://www.econbiz.de/10012155038
This paper explicitly takes into account the dynamic oligopolistic rivalry among source producers to evaluate the degree of exchange rate pass-through. Using recent time-series techniques for the case of imported automobiles in Switzerland, the results show that prices are strategic complements...
Persistent link: https://www.econbiz.de/10014400174
the reaction of 18 large emerging markets to an external shock, conditioning on their degree of inflation expectations … anchoring, countries with weakly anchored inflation expectations experienced larger exchange rate pass-through to consumer … prices, hence comparatively higher inflation. We conclude that efforts to improve the extent of anchoring of inflation …
Persistent link: https://www.econbiz.de/10012010090
The paper analyzes the dynamics of inflation in Guinea during 1992-2003 applying cointegration and error …
Persistent link: https://www.econbiz.de/10014404149
The paper explores how international integration through global value chains shapes the working of exchange rates to induce external adjustment both in the short and medium run. The analysis indicates that greater integration into international value chains reduces the exchange rate elasticity...
Persistent link: https://www.econbiz.de/10012155213
We examine the effects of various borrower-based macroprudential tools in a New Keynesian environment where both real and nominal interest rates are low. Our model features long-term debt, housing transaction costs and a zero-lower bound constraint on policy rates. We find that the long-term...
Persistent link: https://www.econbiz.de/10012251966
Based on VAR analyses across 26 countries, we show that, although foreign exchange intervention (FXI) is effective in …
Persistent link: https://www.econbiz.de/10012613705
Africa over the past two decades, which coincides with the adoption of the inflation-targeting regime. The paper conjectures … first documents the factors that explain monetary policy credibility. Using the standard deviation of individual inflation … inflation itself, monetary policy uncertainty, and a measure of the unobserved stochastic volatility of inflation. The second …
Persistent link: https://www.econbiz.de/10011905865