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between equilibrium output in Mexico and a change in the exchange rate, stock values, or the world interest rate. Empirical … output, and lower expected inflation would help raise the Mexican output. The central bank plays a major role in determining …
Persistent link: https://www.econbiz.de/10005753854
between equilibrium output in Mexico and a change in the exchange rate, stock values, or the world interest rate. Empirical … output, and lower expected inflation would help raise the Mexican output. The central bank plays a major role in determining …
Persistent link: https://www.econbiz.de/10008538853
Persistent link: https://www.econbiz.de/10012642992
The ECB's one size monetary policy is unlikely to fit all euro area members at all times, which raises the question of how much monetary policy stress this causes at the national level. I measure monetary policy stress as the difference between actual ECB interest rates and Taylor-rule implied...
Persistent link: https://www.econbiz.de/10010349426
Persistent link: https://www.econbiz.de/10010506721
inflation and output stabilisation mandates of the CBN. The study also finds that inclusion of more instruments in the CBN … therefore emphasises the difficulty of the CBN to effectively manage inflation and output stabilisation simultaneously, which …
Persistent link: https://www.econbiz.de/10014516037
Persistent link: https://www.econbiz.de/10014230090
stance, before and after its adoption of the inflation targeting framework, as revealed by its interest rate setting behavior … inflation by and large through its key policy rate, though it appears to be accommodative with respect to the output gap. In …
Persistent link: https://www.econbiz.de/10005561255
We examine the properties of house price fluctuations across 18 advanced economies over the past 40 years. We ask two specific questions: First, how synchronized are housing cycles across these countries? Second, what are the main shocks driving movements in global house prices? To address these...
Persistent link: https://www.econbiz.de/10011242255
high degree of exchange rate pass-through to headline inflation and the weak monetary transmission mechanism in PICs … suggest a greater efficacy of exchange rate changes in affecting inflation rather than monetary policy. To assess the tradeoff … rate changes and headline inflation and the low interest rate sensitivity of aggregate demand. …
Persistent link: https://www.econbiz.de/10010790298