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Política monetaria contractiva en el control de la inflación: caso de estudio de las principales ciudades de Colombia

Torres, Nicolás; Villarraga, Juan-Pablo; Sánchez, Wendy; … - 2023

This paper analyzes the effects of a contractionary monetary policy on the Consumer Price Index (CPI) in Colombia and its 13 main cities between January 2001 and February 2020. For this purpose, Vector Autoregression models (VAR) are used, from which impulse-response functions are obtained....

Persistent link: https://www.econbiz.de/10015213588

Interest Rate Determination in India: Analyzing RBI’s Post-Covid Monetary Policy Stance Using High Frequency Data

C, Prasanth; Chakraborty, Lekha; K Shihab, Nehla - 2024

Against the backdrop of the new Monetary Policy Committee (MPC) decisions to maintain the status quo policy rates, we analyse the post-pandemic monetary policy stance in India. Using high-frequency data, the term structure of interest rate is analyzed incorporating monetary aggregates, fiscal...

Persistent link: https://www.econbiz.de/10015214275

Ramsey Optimal Policy in the New-Keynesian Model with Public Debt

Chatelain, Jean-Bernard; Ralf, Kirsten - 2020

-rules multiple equilibria between the fiscal theory of the price level versus new-Keynesian versus an unpleasant equilibrium. If …

Persistent link: https://www.econbiz.de/10015226127

Equilibrium selection in a cashless economy with transaction frictions in the bond market

Marzo, Massimiliano; Zagaglia, Paolo - 2011

markets for the determinacy of rational expectations equilibria. We use a strongly-separable utility function to model 'liquid … this context, the inflation targeting parameter should be higher than one for determinacy of rational expectations …. Achieving solution determinacy requires constraining these coefficients within bounds that depend on the structural parameters …

Persistent link: https://www.econbiz.de/10015227443

Sovereign default Risk in the Euro-Periphery and the Euro-Candidate Countries

Gabrisch, Hubert; Orlowski, Lucjan T.; Pusch, Toralf - 2012

This study examines the key drivers of sovereign default risk in five euro area periphery countries and three euro-candidates that are currently pursuing independent monetary policies. We argue that the recent proliferation of sovereign risk premiums stems from both domestic and international...

Persistent link: https://www.econbiz.de/10015233720

Did the Crisis Change it All? Evidence from Monetary and Fiscal Policy

Mitreska, Ana; Kadievska Vojnovic, Maja; Georgievska, Ljupka - 2010

The recent financial and economic crisis has triggered bold and diverse policy responses to prevent further, sharper and prolonged adverse effects to the financial and the real sector. The measures for alleviating the cycle were a feature both of the advanced and the emerging and developing...

Persistent link: https://www.econbiz.de/10015234979

Correlation between Maltese and euro area sovereign bond yields

Ellul, Reuben - 2017

This paper investigates correlation in Malta government stock (MGS) yields and assesses correlation between these yields and those of Malta’s major euro area partners. Correlation coefficients are found to be high, indicating the existence of a long-run relationship in the setting of MGS...

Persistent link: https://www.econbiz.de/10015257155

Macroeconomic Policies and Transmission Dynamics in India

Kapur, Muneesh - 2018

Against the backdrop of the move to an inflation targeting monetary policy framework beginning 2014 with consumer price index (CPI) inflation as the nominal anchor, this paper revisits monetary transmission dynamics. Rather than confining to the typical three equation New Keynesian model, this...

Persistent link: https://www.econbiz.de/10015261364

The Neo-Fisherianism to Escape Zero Lower Bound

Chattopadhyay, Siddhartha - 2019

Sufficiently persistent rise in nominal interest increases inflation rate in short-run. This short-run comovement of nominal interest rate and inflation rate is known as Neo-Fisherianism. This paper proposes a policy based on Neo-Fisherianism to escape Zero Lower Bound (ZLB) using a textbook...

Persistent link: https://www.econbiz.de/10015263367

Is Inflation Fiscally Determined?

Bazzaoui, Lamia; Nagayasu, Jun - 2019

disappears when monetary policy is based on commitment strategies. We conclude that fiscal determinacy of inflation is only …

Persistent link: https://www.econbiz.de/10015264998