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Inflationary effect of oil-price shocks in an imperfect market: A partial transmission input-output analysis

Wu, Libo; Li, Jing; Zhang, ZhongXiang - 2011

This paper aims to examine the impacts of oil-price shocks on China's price levels. To that end, we develop a partial …-through mechanism during oil-price shocks. Using the models of both China and the U.S., we separate the impact of price control from … those of other factors leading to China's price stickiness under oil-price shocks. The results show a sharp contrast between …

Persistent link: https://www.econbiz.de/10010279509

Inflation Dynamics in the New EU Member States: How Relevant Are External Factors?

Mihailov, Alexander; Rumler, Fabio; Scharler, Johann - 2009

In this paper we evaluate the relative influence of external versus domestic inflation drivers in the 12 new European Union (EU) member countries. Our empirical analysis is based on the New Keynesian Phillips Curve (NKPC) derived in Galí and Monacelli (2005) for small open economies (SOE)....

Persistent link: https://www.econbiz.de/10010294894

Institutions, experiences and inflation aversion

Berlemann, Michael; Enkelmann, Sören - 2014

Are preferences exogenously given? Or do individual tastes and values evolve endogenously within a particular socio-economic environment? In this paper, we make use of a natural experiment to analyse the role of inflation experiences and institutions in the formation of individual inflation...

Persistent link: https://www.econbiz.de/10010409372

Romania Foreign Trade in Global Recession, Revealed by the Extended Method of Exchange Rate Indicators

Săvoiu, Gheorghe; Dinu, Vasile; Tăchiciu, Laurenţiu - In: Amfiteatru Economic Journal 14 (2012) 31, pp. 173-194

In this article the authors propose an extended method for assessing foreign trade, which is capitalized on in the analysis of foreign trade/external marketing, under the influence of two of the most difficult recession of the Romanian economy, placed in the last interwar decade and in the first...

Persistent link: https://www.econbiz.de/10011724777

Biases in cross-spave comparisons through cross-time price indexes: the case of Russia

Gluschenko, Konstantin - 2006

Lacking data on price levels across locations (countries, national regions, etc.) for crossspace comparisons, researchers resort to local consumer price indexes (CPIs) over time to evaluate these levels.This approach unfortunately fails to specify, even generally, the exactness of such...

Persistent link: https://www.econbiz.de/10012148512

Money demand in post-crisis Russia: De-dollarisation and re-monetisation

Korhonen, Iikka; Mehrotra, Aaron - 2007

augmented by a deterministic trend signifying falling velocity. As predicted by theory, higher income boosts demand for real …

Persistent link: https://www.econbiz.de/10012148536

Distortionary taxation, debt, and the price level

Schabert, Andreas; von Thadden, Leopold - 2006

This paper considers the nominal and real determinacy of equilibria under an exogenously specified path of interest rates in an economy in which taxation is either lump-sum or distortionary. Under lump-sum taxation, we confirm the well-known finding that equilibria display nominal...

Persistent link: https://www.econbiz.de/10011604623

Adopting price-level targeting under imperfect credibility

Kryvtsov, Oleksiy; Shukayev, Malik; Ueberfeldt, Alexander - 2008

This paper measures the welfare gains of switching from inflation-targeting to price-level targeting under imperfect credibility. Vestin (2006) shows that when the monetary authority cannot commit to future policy, price-level targeting yields higher welfare than inflation targeting. We revisit...

Persistent link: https://www.econbiz.de/10010279875

Adopting price-level targeting under imperfect credibility: An update

Kryvtsov, Oleksiy; Shukayev, Malik; Ueberfeldt, Alexander - 2008

Persistent link: https://www.econbiz.de/10010280059

Monetary and fiscal policy in monetary union under the zero lower bound constraint

Flotho, Stefanie - 2012

This paper explicitly models strategic interaction between two independent national fiscal authorities and a single central bank in a simple New Keynesian model of a monetary union. Monetary policy is constrained by the zero lower bound on nominal interest rates. Coordination of fiscal policies...

Persistent link: https://www.econbiz.de/10010325141