Showing 1 - 10 of 14
Persistent link: https://www.econbiz.de/10005385005
This paper estimates Taylor rules using real-time inflation forecasts of the Swiss National Bank's (SNB) ARIMA model and real-time model-based internal estimates of the output gap since the onset of the monetary policy concept adopted in 2000. To study how market participants understand the...
Persistent link: https://www.econbiz.de/10010815196
Persistent link: https://www.econbiz.de/10010820244
This paper is an attempt for measuring the impact of public policy on the inequality in Bulgaria. An analysis based on the Bulgarian Household Budget Surveys shows that the tax burden in Bulgaria, nevertheless increasing in the upper quintiles, declined between the beginning of the transition...
Persistent link: https://www.econbiz.de/10010820265
This paper investigates the empirical specification of the Taylor Rule. Building on the New Keynesian paradigm, we derive a general nonlinear specification for the optimal policy rule that nests the standard linear Taylor Rule as a particular case. Using a novel semi-parametric modeling...
Persistent link: https://www.econbiz.de/10010583667
This paper estimates a regime switching Taylor Rule for the European Central Bank (ECB) in order to investigate some potential nonlinearities in the forward-looking policy reaction function within a real-time framework. In order to compare observed and predicted policy behavior, the paper...
Persistent link: https://www.econbiz.de/10010580992
Under perfect competition and constant returns to scale, firms producing homogeneous products set their prices at their marginal costs which also equal their average costs. However, the departure from these standard assumptions has important implications with respects to the derived theoretical...
Persistent link: https://www.econbiz.de/10005590045
The pricing policy of Bulgarian manufacturing firms is analysed in the paper in the context of the theory of the price-setting behaviour of firms endowed with market power, and more specifically, using the notion of mark-up pricing. Using some recent derivations in the literature, we estimate...
Persistent link: https://www.econbiz.de/10005784599
Under perfect competition and constant returns to scale, firms producing homogeneous products set their prices at their marginal costs which also equal their average costs. However, the departure from these standard assumptions has important implications with respects to the derived theoretical...
Persistent link: https://www.econbiz.de/10005784761
Persistent link: https://www.econbiz.de/10005214966