how do firms form their expectations? new survey evidence
... survey. There is widespread consistency in price reports over the overlapping periods. We can also verify the quality of some of firms’ expectational answers. For example, we ask firms in the main survey when they next expect to change their prices and by how much. Given that firms provide us with t ...
... survey. There is widespread consistency in price reports over the overlapping periods. We can also verify the quality of some of firms’ expectational answers. For example, we ask firms in the main survey when they next expect to change their prices and by how much. Given that firms provide us with t ...
USD strength hits a roadblock
... headwinds from the global USD fairly well. The DXY Index is our reference for the global USD below. Currencies of high growth economies – PHP, IDR, VND and INR – were notably resilient when DXY rallied strongly in Nov-Dec 2016. They were, however, less willing to appreciate when DXY retreated in ear ...
... headwinds from the global USD fairly well. The DXY Index is our reference for the global USD below. Currencies of high growth economies – PHP, IDR, VND and INR – were notably resilient when DXY rallied strongly in Nov-Dec 2016. They were, however, less willing to appreciate when DXY retreated in ear ...
macro policies targeting low inflation - ResearchDirect
... demonstrate a higher inflation tolerance. Analyses from the IMF country reports show that policy advice of achieving low inflation at around 5 per cent or less continues to receive priority in general. There is little evidence that IMF’s policy prescription reflects the need for a change in the wake ...
... demonstrate a higher inflation tolerance. Analyses from the IMF country reports show that policy advice of achieving low inflation at around 5 per cent or less continues to receive priority in general. There is little evidence that IMF’s policy prescription reflects the need for a change in the wake ...
Understanding Inflation as a Joint Monetary-Fiscal Phenomenon Eric M. Leeper Campbell Leith
... secondary markets in unlimited quantities for countries that satisfied conditionality restrictions. 4. Rapid adoption of fiscal austerity measures beginning in 2010 and 2011 created challenges for central banks that were already operating at or near the lower limits for nominal interest rates. 5. Ex ...
... secondary markets in unlimited quantities for countries that satisfied conditionality restrictions. 4. Rapid adoption of fiscal austerity measures beginning in 2010 and 2011 created challenges for central banks that were already operating at or near the lower limits for nominal interest rates. 5. Ex ...
Understanding Inflation as a Joint Monetary-Fiscal Phenomenon Eric M. Leeper Campbell Leith
... secondary markets in unlimited quantities for countries that satisfied conditionality restrictions. 4. Rapid adoption of fiscal austerity measures beginning in 2010 and 2011 created challenges for central banks that were already operating at or near the lower limits for nominal interest rates. 5. Ex ...
... secondary markets in unlimited quantities for countries that satisfied conditionality restrictions. 4. Rapid adoption of fiscal austerity measures beginning in 2010 and 2011 created challenges for central banks that were already operating at or near the lower limits for nominal interest rates. 5. Ex ...
Fiscal and Monetary Policies The Nominal Anchor
... the long-run equilibrium values of real variables (e.g., employment, output, real interest rates) don’t depend on monetary conditions The Quantity Theory of Money (MV = PY ) was typically the link between the money supply and the price level But some classical (neoclassical) economists discussed pri ...
... the long-run equilibrium values of real variables (e.g., employment, output, real interest rates) don’t depend on monetary conditions The Quantity Theory of Money (MV = PY ) was typically the link between the money supply and the price level But some classical (neoclassical) economists discussed pri ...
Interest Rate, Credit to Private Sector, Inflation Rate, Money Supply
... The economic growth increase when consumption expenditure by the public goes up. The increase in the individual’s disposable income has impact on the economic growth. The individuals will tend to spend more when they have high income level. Thus, the money supply will also increase. Basically, consu ...
... The economic growth increase when consumption expenditure by the public goes up. The increase in the individual’s disposable income has impact on the economic growth. The individuals will tend to spend more when they have high income level. Thus, the money supply will also increase. Basically, consu ...
NBER WORKING PAPER SERIES FEDERAL RESERVE PRIVATE INFORMATION AND THE BEHAVIOR
... their forecasts of the GDP deflator. Second, interest rates were included in the CPI until 1983. This greatly complicates the analysis of the link between inflation forecasts and monetary policy. 2 As Scharfstein and Stein (1990), Lament (1995), Ehrbeck and Waldmann (1996), and others point out, the ...
... their forecasts of the GDP deflator. Second, interest rates were included in the CPI until 1983. This greatly complicates the analysis of the link between inflation forecasts and monetary policy. 2 As Scharfstein and Stein (1990), Lament (1995), Ehrbeck and Waldmann (1996), and others point out, the ...
Sveriges Riksbank Economic Review 2016:1
... http://www.riksbank.se/Economic-Review Order a link to download new issues of Sveriges Riksbank Economic Review by sending an e-mail to: [email protected] ...
... http://www.riksbank.se/Economic-Review Order a link to download new issues of Sveriges Riksbank Economic Review by sending an e-mail to: [email protected] ...
Interest Rates and Their Role in the Economy during Transition. The
... expansion lead to fast increase in nominal interest even within the quarter in which the monetary change takes place. This work can be useful in analysis of Ukrainian economy, since Ukraine, like Argentina, has also an inflationary and unstable economy with fast changes in the economic environment. ...
... expansion lead to fast increase in nominal interest even within the quarter in which the monetary change takes place. This work can be useful in analysis of Ukrainian economy, since Ukraine, like Argentina, has also an inflationary and unstable economy with fast changes in the economic environment. ...
FX Outlook: 2017
... inflation. Taking that into consideration any policy moves will be gradual and unlikely to derail growth. Fiscal sustainability risk can have the potential to weigh on the medium term outlook. In the long term, an improved US economy and manufacturing sector, US shale oil and gas production may impr ...
... inflation. Taking that into consideration any policy moves will be gradual and unlikely to derail growth. Fiscal sustainability risk can have the potential to weigh on the medium term outlook. In the long term, an improved US economy and manufacturing sector, US shale oil and gas production may impr ...
An assessment of Eurosystem staff macroeconomic projections
... cover world demand projections, oil and other commodity prices, the exchange rate, short- and long-term interest rates and fiscal variables. These assumptions are constructed in a variety of ways. Some assumptions are akin to projections (e.g. world demand), some are based on information about marke ...
... cover world demand projections, oil and other commodity prices, the exchange rate, short- and long-term interest rates and fiscal variables. These assumptions are constructed in a variety of ways. Some assumptions are akin to projections (e.g. world demand), some are based on information about marke ...
EN EN Convergence Report 2014 Member States BG Bulgaria CZ
... ready to participate in the single currency had, in accordance with the Treaty (Article 121(4) TEC) (2), been prepared by the Ecofin Council on a recommendation from the Commission. The decision was based on the two Convergence Reports made by the Commission (3) and the European Monetary Institute ( ...
... ready to participate in the single currency had, in accordance with the Treaty (Article 121(4) TEC) (2), been prepared by the Ecofin Council on a recommendation from the Commission. The decision was based on the two Convergence Reports made by the Commission (3) and the European Monetary Institute ( ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research
... in stimulating investment.2 It may also help to explain why the actual investment behavior of firms differs from the received wisdom taught in business schools. Observers of business practice find that the "hurdle rates" that firms require for expected returns on projects are typically three or four ...
... in stimulating investment.2 It may also help to explain why the actual investment behavior of firms differs from the received wisdom taught in business schools. Observers of business practice find that the "hurdle rates" that firms require for expected returns on projects are typically three or four ...
Multiple-choice questions to accompany
... 39. "A series of methodological improvements to the Consumer Price Index that will continue into 1999 is expected to add about half a percentage point to measured productivity growth, raising the economy's sustainable rate of GDP growth from between 2 percent and 2.25 percent to between 2.5 percent ...
... 39. "A series of methodological improvements to the Consumer Price Index that will continue into 1999 is expected to add about half a percentage point to measured productivity growth, raising the economy's sustainable rate of GDP growth from between 2 percent and 2.25 percent to between 2.5 percent ...
monetary policy review monetary policy review
... decreased to 8.0 per cent in December 2013, from 8.4 per cent in June 2013 and 12.0 per cent in December 2012. Food inflation also declined marginally to 9.3 per cent from 9.6 per cent over the same period. However, core inflation rose from 5.5 per cent to 7.9 per cent between June and December 2013 ...
... decreased to 8.0 per cent in December 2013, from 8.4 per cent in June 2013 and 12.0 per cent in December 2012. Food inflation also declined marginally to 9.3 per cent from 9.6 per cent over the same period. However, core inflation rose from 5.5 per cent to 7.9 per cent between June and December 2013 ...
The Conceptual Evolution of Inflation Inertia in Brazil
... opposing schools is operated by the contributions by Mario Henrique Simonsen and the selfdeclared neo-structuralist economists at PUC-Rio. Based on a careful and detailed analysis of the latter’s modeling strategies and conclusions, we show that, along the 1980s, these economists gradually shift tow ...
... opposing schools is operated by the contributions by Mario Henrique Simonsen and the selfdeclared neo-structuralist economists at PUC-Rio. Based on a careful and detailed analysis of the latter’s modeling strategies and conclusions, we show that, along the 1980s, these economists gradually shift tow ...
expected returns
... current 11% European unemployment rate. Although this may indeed be the mindset of many Europe-based institutional investors, there are a number of developments to keep in mind. First, although European unemployment is high, the unemployment rates of the leading economies in the world are at a much ...
... current 11% European unemployment rate. Although this may indeed be the mindset of many Europe-based institutional investors, there are a number of developments to keep in mind. First, although European unemployment is high, the unemployment rates of the leading economies in the world are at a much ...
2000 - ECB
... Over the reference period from April 1999 to March 2000 Greece achieved a 12-month average rate of HICP inflation of 2.0%, which is below the reference value stipulated by the Treaty. In 1999 as a whole the inflation rate was at the reference value and, since January 2000, Greece has achieved a rate ...
... Over the reference period from April 1999 to March 2000 Greece achieved a 12-month average rate of HICP inflation of 2.0%, which is below the reference value stipulated by the Treaty. In 1999 as a whole the inflation rate was at the reference value and, since January 2000, Greece has achieved a rate ...
Aggregate Supply-Driven Deflation and Its Implications for Macroeconomic Stability David Beckworth
... harmful is not only evident in the deflation literature, but is also borne out in practice: no central bank targets deflation while most central banks either implicitly or explicitly target some rate of inflation.1 The conventional view of deflation is often justified by noting several important cha ...
... harmful is not only evident in the deflation literature, but is also borne out in practice: no central bank targets deflation while most central banks either implicitly or explicitly target some rate of inflation.1 The conventional view of deflation is often justified by noting several important cha ...
DoD Inflation Handbook
... This book developed from a PA&E analyst’s observations that inflation adjustments had been misapplied to several significant analytical products used to inform decisions in the Department of Defense. In at least one case the misapplication changed the net present value (the deciding factor in the an ...
... This book developed from a PA&E analyst’s observations that inflation adjustments had been misapplied to several significant analytical products used to inform decisions in the Department of Defense. In at least one case the misapplication changed the net present value (the deciding factor in the an ...
Kad Brunner*
... The Argumeut for an Interest Targeting Approach Based on the Keynesian Dichotomy ...
... The Argumeut for an Interest Targeting Approach Based on the Keynesian Dichotomy ...