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It has recently become popular to argue that globalization has had or will soon have dramatic consequences for the nature of the monetary transmission mechanism, and it is sometimes suggested that this could threaten the ability of national central banks to control inflation within their...
Persistent link: https://www.econbiz.de/10012465321
It has recently become popular to argue that globalization has had or will soon have dramatic consequences for the nature of the monetary transmission mechanism, and it is sometimes suggested that this could threaten the ability of national central banks to control inflation within their...
Persistent link: https://www.econbiz.de/10012776195
This Selected Issues paper analyzes inflation in Norway with a view to shedding light on this surprising development and the possible near-term course of inflation, using statistical and econometric analyses. The paper reviews recent developments of monetary policy and inflation in Norway,...
Persistent link: https://www.econbiz.de/10005825365
This 2005 Article IV Consultation highlights that Norway’s real mainland GDP growth rebounded strongly in 2004, after a slowdown that began in late 2002. Very supportive monetary conditions, high oil prices, rising housing prices, strengthening consumer and business confidence, and an...
Persistent link: https://www.econbiz.de/10005825554
The spillovers from the U.S. economy to Canada have been assessed. It uses structural vector autoregressions to analyze the role of financial linkages in real and financial spillovers from the United States to Canada. The implications of Canada’s predictable price level have been...
Persistent link: https://www.econbiz.de/10011243149
KEY ISSUES Context. Over the past decade, Afghanistan has made enormous progress in reconstruction, development and lifting per capita income. Security and political uncertainties, and weak institutions have constrained growth and weighed on social outcomes. With significant reform efforts and...
Persistent link: https://www.econbiz.de/10011243928
This 2008 Article IV Consultation highlights that the United Kingdom’s economic growth was above trend in 2006 and 2007. In terms of expenditure, the expansion was largely driven by private consumption, on the heels of strong employment, steady real wage and living standards growth, and a...
Persistent link: https://www.econbiz.de/10011244220
Elections: The candidate of the ruling coalition Frente Amplio, former president Tabaré Vazquez, won the presidency and will take office in March 2015. With Frente Amplio retaining majority in both houses of Parliament, broad continuity in macroeconomic policy making is expected. Focus: Amid...
Persistent link: https://www.econbiz.de/10011244658
This 2014 Article IV Consultation highlights that the Russian Federation’s growth slowdown that began in 2011, reflecting structural constraints, continued in 2013 despite accommodative policies. Real GDP growth slowed to 1.3 percent owing to a contraction in investment while consumption...
Persistent link: https://www.econbiz.de/10011245094
We introduce a novel method for estimating a monetary policy rule using macroeconomic news. Market forecasts of both economic conditions and monetary policy are affected by news, and our estimation links the two effects. This enables us to estimate directly the policy rule agents use to form...
Persistent link: https://www.econbiz.de/10014200927