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house price index in Namibia has proved more sensitive to changes in population, mortgage loans, and inflation; while the … construction activities were found to be more sensitive to the house price index and inflation. Granger causality results show that …
Persistent link: https://www.econbiz.de/10015260314
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 … with properly chosen inflation target and persistence can stimulate economy and escape ZLB by raising nominal interest rate …
Persistent link: https://www.econbiz.de/10015263367
One can describe the accumulation of wealth in home equity as a benefit to the homeowners. However, in practice the release process of such equity into cash is hindered by the fact that a joint ownership of a home by a lending institution and a household turns the equity stake into a debt...
Persistent link: https://www.econbiz.de/10015266794
change in sentiment. Applying the same technique to media narratives on inflation, we estimate that a shift to a viral … narrative of inflation damaging the real economy in 2021 accounts for 42% of the fall in consumer sentiment in the second half …
Persistent link: https://www.econbiz.de/10015268144
In the U.K.,like in other countries, households have usually two main savings objectives: Buying a home and saving for a pension. Both are long term commitments. When the Bank of England increases its base rates, households are often forced to limit ordinary expenses in order to give priority to...
Persistent link: https://www.econbiz.de/10015269237
This paper analyses the redistributional effects of long-run inflation on income, wealth and consumption in the United … with transfers, we find that consumption inequality reduces as inflation increases since the low income households hold a …
Persistent link: https://www.econbiz.de/10015242323
We explore the ability of traditional core inflation –consumer prices excluding food and energy– to predict headline … CPI annual inflation. We analyze a sample of OECD and non-OECD economies using monthly data from January 1994 to March … common wisdom about the ability of core inflation to forecast headline inflation, and suggest a careful weighting of the …
Persistent link: https://www.econbiz.de/10015250349
This paper analyzes the redistributional effects of long-run inflation on income, wealth and consumption in the United … States. On an aggregate level, the cost of 5% inflation is 2.5% consumption. On an disaggregate level, uniform monetary … transfers by the central bank result in inflation acting as a progressive tax on consumption. …
Persistent link: https://www.econbiz.de/10015250813
In recent papers it is shown that in the presence of price stickiness, investment and capital accumulation activity, active monetary policy (MP) rules can lead to indeterminacy under various assumptions about the structure of the model. We analyze the conditions for real indeterminacy to occur...
Persistent link: https://www.econbiz.de/10015213036
The Bank of International Settlement in its latest report demonstrates how the inflation levels, especially of food and …
Persistent link: https://www.econbiz.de/10015268380