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Price Level Changes and the Redistribution of Nominal Wealth Across the Euro Area
Adam, Klaus; Zhu, Junyi - 2014
, and Belgium and Malta being the largest losers. Governments are net winners of inflation, while the household (HH) sector … Spain turn out to be net winners of inflation. Considerable heterogeneity exists also within the HH sector: relatively young … middle class HHs are net winners of inflation, while older and richer HHs are losers. As a result, wealth inequality for the …
Persistent link: https://www.econbiz.de/10010378324
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Existence, uniqueness and computation of solutions to dynamic models with occasionally binding constraints
Holden, Tom D. - 2016
We present the first necessary and sufficient conditions for the existence of a unique perfect-foresight solution, returning to a given steady-state, in an otherwise linear model with occasionally binding constraints. We derive further conditions on the existence of a solution in such models,...
Persistent link: https://www.econbiz.de/10011422742
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Computation of solutions to dynamic models with occasionally binding constraints
Holden, Tom D. - 2016
We construct the first algorithm for the perfect foresight solution of otherwise linear models with occasionally binding constraints, with fixed terminal conditions, that is guaranteed to return a solution in finite time, if one exists. We also provide a proof of the inescapability of the...
Persistent link: https://www.econbiz.de/10011514628
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Exchange Rate Pass-through in Russia
Ponomarev, Yuri; Trunin, Pavel V.; Uljukaev, Aleksej V. - 2014
The article provides estimates of short-run and medium-run exchange rate pass-through into domestic prices in Russia during the period of 2000–2012 using vector error correction model. Exchange rate pass-through asymmetry estimates, its assessments on different sub-periods and exchange rate...
Persistent link: https://www.econbiz.de/10011379941
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No Shortage of Profit: Semiconductor firms and the differential effects of chip shortages
Mouré, Christopher - 2022
Few will argue with the claim that shortages are socially harmful. Shortages, by definition, imply a lack of something – not enough stuff to go around. A shortage of food implies hunger; a shortage of electricity implies darkness. But are shortages harmful to everyone equally? And if they are...
Persistent link: https://www.econbiz.de/10013396060
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Economic Theory of Inflation
Jackson, Emerson Abraham - 2024
This paper explores the Economic Theory of Inflation, meticulously progressing from fundamental concepts to intricate …. Key findings elucidate the multifaceted nature of inflation, considering Demand-Pull, Cost-Push, and Phillips Curve … inflation dynamics and expectations. The paper culminates by addressing the imperative of effective economic management …
Persistent link: https://www.econbiz.de/10014447589
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Countercyclical versus Procyclical Taylor Principles
Chatelain, Jean-Bernard - 2016
Assuming inflation is a forward variable in Taylor (1999) model, this paper finds opposite policy rule recommandations … with counter-cyclical policy rule parameters (Taylor principle: inflation rule larger than one and bounded upwards) in the … case of optimal policy under commitment versus pro-cyclical policy rule parameters (inflation rule parameter below zero) in …
Persistent link: https://www.econbiz.de/10011444004
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Precautionary Liquidity Shocks, Excess Reserves and Business Cycles
Bratsiotis, George J.; Theodoridis, Konstantinos - 2021
This paper identifies a precautionary banking liquidity shock via a set of sign, zero and forecast variance restrictions imposed. The shock proxies the banking sector's reluctance to lend to the real economy induced by an exogenous preference change for liquid assets. Through the lens of a DSGE...
Persistent link: https://www.econbiz.de/10012632159
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Effect of Economic Uncertainty on Remittances Flows from Developed Countries
Gnangnon, Sèna Kimm - 2023
This article has investigated the effect of economic uncertainty on the remittances sent by migrants residing in developed countries to their home countries. The analysis builds on the economic uncertainty index developed by Ahir et al. (2018, 2019, 2022) that reflects the uncertainty related to...
Persistent link: https://www.econbiz.de/10014417643
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The End of Neoliberalism?
Bichler, Shimshon; Nitzan, Jonathan - 2003
This article was commissioned by the French newspaper Le Monde. The newspaper was one of several sponsors of an International Conference on Global Regulation, held at the University of Sussex on May 29-31, 2003, where we presented a plenary paper. As part of its sponsorship, Le Monde agreed to...
Persistent link: https://www.econbiz.de/10011644925