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ascertain the relationship between fiscal deficits and inflation. To do so, the author incorporates a Selden-Latané money … of high inflation in Mexico during the last three decades of the twentieth century. …
Persistent link: https://www.econbiz.de/10015213459
-run relationship between inflation and economic growth of the 8 WAEMU countries. A panel of 256 observations was therefore constituted … from the IMF (WDI) and BCEAO database. Our results highlight a unidirectional causality between inflation and economic … growth and support the view that public spending controls can reduce inflation. Economic growth is the main channel through …
Persistent link: https://www.econbiz.de/10015213529
This note examines Prabhat Patnaik's argument that the contemporary international financial system crucially requires the stability of oil prices in terms of the dollar. By comparing the macroeconomic impact of recent oil shocks to those of the 1970s, it argues that sharp changes in the dollar...
Persistent link: https://www.econbiz.de/10015213571
This paper proposes a new measure proxying the degree of anchoring of inflation expectations on an individual …-push factors. In doing so, we rely on data taken from the ECB Survey of Professional Forecasters for both parts of the analysis …. First, we construct a measure for the degree of anchoring of inflation expectations for each forecaster based on his …
Persistent link: https://www.econbiz.de/10015213646
In monetary theory, money is typically introduced as an object that can help agents bypass frictions, such as anonymity and limited commitment. Consequently, common wisdom suggests that if agents had access to more unsecured credit these frictions would become less severe and welfare would...
Persistent link: https://www.econbiz.de/10015213704
This study investigates the effect of CBDC issuance on economic growth rate and inflation rate in Nigeria. We are … interested in determining whether the rate of economic growth and inflation changed significantly after the issuance of a non …-interest bearing CBDC in Nigeria. Two-stage least square regression and granger causality test were used to analyse the data. Inflation …
Persistent link: https://www.econbiz.de/10015213768
policies ensure aggregate stability. Overly aggressive inflation-fighting actions are destabilizing under sticky prices …
Persistent link: https://www.econbiz.de/10015214136
This paper focuses on the uncertainty effect on consumer price inflation based on a panel of 82 advanced, emerging, and …) and by measuring the degree of anchoring of survey inflation expectations. We argue that the interpretation of uncertainty … for countries with high inflation and/or low monetary policy credibility. We find that higher uncertainty boosts inflation …
Persistent link: https://www.econbiz.de/10015214382
Conventional empirical models of monetary policy transmission in emerging market economies produce puzzling results: monetary tightening often leads to an increase in prices (the price puzzle) and depreciation of the currency (the FX puzzle). We show that incorporating forward-looking...
Persistent link: https://www.econbiz.de/10015214422
Conventional empirical models of monetary policy transmission in emerging market economies produce puzzling results: monetary tightening often leads to an increase in prices (the price puzzle) and depreciation of the currency (the FX puzzle). We show that incorporating forward-looking...
Persistent link: https://www.econbiz.de/10015214450