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inflation rate: high inflation rates preclude individuals of using money as an asset that helps them smooth their consumption … profile but low inflation rates tend to make softer the punishment for default making it diffcult to sustain high levels of … debt at equilibrium. This two opposite effects imply that in equilibrium the inflation rate that maximizes individuals …
Persistent link: https://www.econbiz.de/10005016303
On 3 July 2015, SUERF organized its sixth joint conference with the Bank of Finland in Helsinki on the subject of liquidity and market efficiency. The one-day program consisted of an opening speech, six presentations, including three keynotes, and a lunchtime address. The present SUERF Study...
Persistent link: https://www.econbiz.de/10011414459
Part of the present inflation is caused by the breakdown of globalization, in particular supply chains, part is caused … the past and in the presence. This paper attributes inflation decisively to the overwhelming money creation by the …
Persistent link: https://www.econbiz.de/10013553631
smaller than one when the foreign share is low, such as in the U.S. in the 1950's and 1960's and Japan today, and larger than …
Persistent link: https://www.econbiz.de/10011994640
the U.S. in the 1950s and 1960s and Japan today, and larger than one when the foreign share is high, such as in the U …
Persistent link: https://www.econbiz.de/10012923278
smaller than one when the foreign share is low, such as in the U.S. in the 1950's and 1960's and Japan today, and larger than …
Persistent link: https://www.econbiz.de/10012889807
inflation through supply chains …
Persistent link: https://www.econbiz.de/10014351016
The establishment of European monetary union (EMU) was widely expected to cause price convergence among member states. In an investigation of this claim, the present study avoids problems of comparability and representativeness by using an extremely detailed and comprehensive scanner database on...
Persistent link: https://www.econbiz.de/10010298753
The establishment of European monetary union (EMU) was widely expected to cause price convergence among member states. In an investigation of this claim, the present study avoids problems of comparability and representativeness by using an extremely detailed and comprehensive scanner database on...
Persistent link: https://www.econbiz.de/10003815486
Using a threshold autoregressive model, we confirm the presence of nonlinearities in sectoral real exchange rate (SRER) dynamics across Mexico, Canada and the US in the pre-NAFTA and post-NAFTA periods. Measuring transaction costs using the estimated threshold bands, we find evidence that Mexico...
Persistent link: https://www.econbiz.de/10014207838