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... information criterion. 7 This practice has been fairly standard in this literature since Sims (1992). An alternative proposed by Bernanke, Boivin, and Eliasz (2005) is to incorporate more information using a factor-augmented VAR (FAVAR). As shown in appendix A, our VAR results are robust to this alt ...
... information criterion. 7 This practice has been fairly standard in this literature since Sims (1992). An alternative proposed by Bernanke, Boivin, and Eliasz (2005) is to incorporate more information using a factor-augmented VAR (FAVAR). As shown in appendix A, our VAR results are robust to this alt ...
Volume 72 No. 2, June 2009 Contents
... Finally in this edition, we present an interview with Prasanna Gai, a Professor at the Australian National University and consultant to the Bank of England. Professor Gai visited the Reserve Bank early in 2009. In the interview, he talks with David Hargreaves about the current financial crisis and i ...
... Finally in this edition, we present an interview with Prasanna Gai, a Professor at the Australian National University and consultant to the Bank of England. Professor Gai visited the Reserve Bank early in 2009. In the interview, he talks with David Hargreaves about the current financial crisis and i ...
Comparative Study of Central Bank Quantitative
... population and deflation. Although the BOJ carried out asset purchase programs in response to the financial crisis, including the purchasing of corporate bonds, the economy was still struggling. Abenomics’ Quantitative and Qualitative easing program was introduced in 2013 to target deflation and in ...
... population and deflation. Although the BOJ carried out asset purchase programs in response to the financial crisis, including the purchasing of corporate bonds, the economy was still struggling. Abenomics’ Quantitative and Qualitative easing program was introduced in 2013 to target deflation and in ...
The Relationship between Openness and Inflation in NIEs and the G7
... reasons, and have low inflation due to other factors (which may or may not be explained by the time consistency theory). If we include these data into a sample that does not have a regular relationship between openness and inflation, it is very likely for us to find a spurious “significant relations ...
... reasons, and have low inflation due to other factors (which may or may not be explained by the time consistency theory). If we include these data into a sample that does not have a regular relationship between openness and inflation, it is very likely for us to find a spurious “significant relations ...
Vo l u m e 6 6 ... C o n t e n t s
... it remains higher than in some other developed economies, such as the United States and, to a lesser extent, Australia. The article discusses why this is so and what factors might influence the future direction of the neutral real rate in New Zealand. We change tack in our third article and look inw ...
... it remains higher than in some other developed economies, such as the United States and, to a lesser extent, Australia. The article discusses why this is so and what factors might influence the future direction of the neutral real rate in New Zealand. We change tack in our third article and look inw ...
Mohan Bijapur Are credit crunches supply or demand shocks?
... Blanchard and Quah (1989). Furthermore, a typical negative supply shock such as an oil shock would also generally have a positive impact on inflation, due to the resulting reduction in productive potential. We estimate whether credit shocks also display a similar inflationary response, thus providin ...
... Blanchard and Quah (1989). Furthermore, a typical negative supply shock such as an oil shock would also generally have a positive impact on inflation, due to the resulting reduction in productive potential. We estimate whether credit shocks also display a similar inflationary response, thus providin ...
Practice Papers
... An imposition of an import quota on garments will lead to an improvement in the average quality of imported garments. People who live in remote areas tend to buy better seats at concerts held in the town centre. An increase in unemployment allowance raises the unemployment rate. If an additional lum ...
... An imposition of an import quota on garments will lead to an improvement in the average quality of imported garments. People who live in remote areas tend to buy better seats at concerts held in the town centre. An increase in unemployment allowance raises the unemployment rate. If an additional lum ...
Author`s Note, Crash Proof 2.0
... In the way of background, the balance of payments, the bookkeeping system for recording transactions between countries, is made up, among other items, of a trade account, which is the part of the current account that nets out imports and exports, and a capital account, which nets investment flows be ...
... In the way of background, the balance of payments, the bookkeeping system for recording transactions between countries, is made up, among other items, of a trade account, which is the part of the current account that nets out imports and exports, and a capital account, which nets investment flows be ...
NBER WORKING PAPER SERIES SETTING THE RECORD STRAIGHT ON
... Keynes and Friedman quotations given above makes clear. Friedman further contended that monetary policy could not determine real variables such as output or employment in the long run. Friedman’s stand on what monetary policy could do, and what it could not do, stood him apart from the predominant v ...
... Keynes and Friedman quotations given above makes clear. Friedman further contended that monetary policy could not determine real variables such as output or employment in the long run. Friedman’s stand on what monetary policy could do, and what it could not do, stood him apart from the predominant v ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research
... typically moved toward expansion shortly after the start of most recessions and appears to have contributed, on average, almost two percentage points to real gross domestic product (GDP) growth in the four quarters following the trough. Even if one accounts for the fact that tight monetary policy be ...
... typically moved toward expansion shortly after the start of most recessions and appears to have contributed, on average, almost two percentage points to real gross domestic product (GDP) growth in the four quarters following the trough. Even if one accounts for the fact that tight monetary policy be ...
