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Global inflation has risen sharply from its lows in mid-2020, on rebounding global demand, supply bottlenecks, and … soaring food and energy prices, especially since the Russian Federation's invasion of Ukraine. Markets expect inflation to … developments, the risk of stagflation-a combination of high inflation and sluggish growth-has risen. The recovery from the …
Persistent link: https://www.econbiz.de/10013256317
population growth has lowered both the natural rate and inflation by about 0.4 percentage points in recent decades. …
Persistent link: https://www.econbiz.de/10011980508
We theoretically explore long-run stagnation at the zero lower bound in a representative agent framework. We analytically compare expectations-driven stagnation to a secular stagnation episode and find contrasting policy implications for changes in government spending, supply shocks and...
Persistent link: https://www.econbiz.de/10012004630
Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained some acceptance in the financial sector and among some politicians, it has come under strong criticisms from all sides of the academic spectrum and from conservative political...
Persistent link: https://www.econbiz.de/10012795769
The recovery from the Global Financial Crisis was characterized by sluggish output growth and by inflation remaining … persistently below the inflation targets of central banks in many advanced economies despite an unprecedented monetary expansion …
Persistent link: https://www.econbiz.de/10011976123
The recovery from the Global Financial Crisis was characterized by sluggish output growth and by inflation remaining … persistently below the inflation targets of central banks in many advanced economies despite an unprecedented monetary expansion …
Persistent link: https://www.econbiz.de/10012022449
Ghana is poised to be one of the fastest growing economies in Sub-Saharan Africa because of its emerging oil and gas industry. Ghana's discovery of oil in commercial quantities in 2007 and its commencement of production in 2010 are expected to have an impact on the economy. To investigate these,...
Persistent link: https://www.econbiz.de/10012999305
We review macroeconomic performance over the period since the Global Financial Crisis and the challenges in the pursuit of the Federal Reserve’s dual mandate. We characterize the use of forward guidance and balance sheet policies after the federal funds rate reached the effective lower bound....
Persistent link: https://www.econbiz.de/10014048774
We review the macroeconomic performance during the Global Financial Crisis and subsequent economic expansion, as well as the challenges in the pursuit of the Federal Reserve's dual mandate. We characterize the use of forward guidance and balance sheet policies after the federal funds rate...
Persistent link: https://www.econbiz.de/10013323823
adjustment rule, under alternative inflation targets, in terms of output losses in a macroeconomic model, using European Union … credibility, and that a positive inflation target, as opposed to zero inflation, leads to higher and less volatile output. These … countries supports country-specific flexible inflation targeting …
Persistent link: https://www.econbiz.de/10012774248