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Persistent link: https://www.econbiz.de/10004049284
potential impact on inflation has been studied less. We use the IMF’s Global Integrated Fiscal and Monetary Model (GIMF) and … advanced countries as well, but we find that deflation risk from aging is not inevitable as ambitious structural reforms and an …
Persistent link: https://www.econbiz.de/10011142094
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Persistent link: https://www.econbiz.de/10004045757
Using survey data of inflation expectations across a 36 developed and developing countries, this paper examines whether … the adoption of inflation targeting has helped to anchor inflation expectations. We examine the response of inflation … expectations following a shock to inflation, inflation expectations, and oil prices. For the 13 countries that adopted inflation …
Persistent link: https://www.econbiz.de/10010772603
inflation data. Design/methodology/approach – The conventional approach for assessing the degree of persistence within an … inflation process is via its integration properties. This study makes use of univariate threshold autoregressive (TAR) models … and associated unit root testing procedures to investigate the integration properties of the inflation data. Out …
Persistent link: https://www.econbiz.de/10010814931
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Currency debasement, defined as a loss of precious metal content (intrinsic value) of the circulating penny currencies over time, was a common feature in the monetary history of Europe, c. 1400–1900. Over the centuries the loss rate was sustained; between 1400 and 1900 A. D. the (south) German...
Persistent link: https://www.econbiz.de/10010927989
Specific ideas about the Fisher relation between real and nominal interest rates and more general ideas about the nature of the central bank's duty to support the financial system in times of crisis were important to the Monetarist re-assessment of the causes of the Great Depression and what...
Persistent link: https://www.econbiz.de/10010681088
The Fisher relation played a very different role in debates surrounding the Great Depression and the more recent Great Recession. This paper explores some of these differences, and suggests an explanation for them derived from a sketch of the idea’s evolution between the two events, thus...
Persistent link: https://www.econbiz.de/10010681092