Showing 1 - 10 of 253
We analyze the determinants of the inflation trends in ten Southeast European (SEE) countries. Global cost …-related factors and euro area (EA) inflation developments play an important role in explaining inflation dynamics in SEE countries … exchange to euro area market appear to be susceptible to inflation spillovers from the euro area. Moreover, nominal effective …
Persistent link: https://www.econbiz.de/10012124587
In responding to the extremely weak global economy after the financial crisis in 2008, many industrial nations have been considering or have already implemented negative nominal interest rate policy. This situation raises two important questions for monetary theories: (i) Given the widely held...
Persistent link: https://www.econbiz.de/10011691605
We develop a N-sector business cycle network model a la Long and Plosser (1983), featuring heterogenous money demand a la Bewley (1980) and Lucas (1980). Despite incomplete markets and a well-defined distribution of real money balances across heterogeneous households, the enriched N-sector...
Persistent link: https://www.econbiz.de/10011911508
repo rate in response to increases in the output gap and, except in Peru, to deviations of inflation expectations from … of integrated inflation targeting. There is strong evidence that intervention in F/X markets is determined by exchange … strong currency. Central banks appear to have pursued an inflation objective using a standard Taylor rule and an exchange …
Persistent link: https://www.econbiz.de/10010246127
promotions on inflation measurement. Although changes in product-level expenditure shares were unusually high during lockdown, we … inflation, and lower use of promotions by low-income consumers explains why they experienced moderately lower inflation. Overall …, changes in shopping behaviours played only a minor role in driving higher inflation during lockdown; higher prices were the …
Persistent link: https://www.econbiz.de/10012293184
the depreciation of the exchange rate leads to an increase in imported, producer and consumer inflation of 0.42 p.p., 0 … imported inflation and producer inflation does not seem translate into higher ERPT in consumer inflation. Further studies could … look at: First, the nature of the ERPT on different types of inflation and why this is heterogeneous in a time varying …
Persistent link: https://www.econbiz.de/10015193778
This paper explores the effect of inflation supply and demand shocks on government debt. It identifies the shocks using …
Persistent link: https://www.econbiz.de/10014536631
and inflation dynamics in Europe. Specifically, we include in our specification two separate energy markets (oil and … natural gas) and two target macroeconomic variables, measuring inflation expectations and the realized headline inflation. Our … results demonstrate that, during the last year, inflation in the Euro area is more affected from energy price shocks …
Persistent link: https://www.econbiz.de/10013488601
power for inflation or, put differently, whether money growth Granger causes inflation. We use a historical dataset … - consisting of annual Swedish data on money growth and inflation ranging from 1620 to 2021 - and employ state-of-the-art Bayesian … likelihoods - provides strong evidence in favour of money growth Granger causing inflation. This strong evidence is, however, not …
Persistent link: https://www.econbiz.de/10014233967
inflation expectations to income growth expectations for the average consumer, with considerable heterogeneity in pass …-through associated with sociodemographic factors. The results also indicate that higher inflation expectations cause an increase in … inflation and expected utility. Taken together, the survey results and model analysis provide a labor market account of why …
Persistent link: https://www.econbiz.de/10015179672