Download paper (PDF)
... independence was that the increased transparency of the inflation targeting regime enhanced political oversight. An important benefit of the transparency of an inflation-targeting regime, therefore, is that it makes it more palatable to have an independent central bank which focuses on long-run obje ...
... independence was that the increased transparency of the inflation targeting regime enhanced political oversight. An important benefit of the transparency of an inflation-targeting regime, therefore, is that it makes it more palatable to have an independent central bank which focuses on long-run obje ...
Why the Federal Reserve Should Adopt Inflation Targeting
... Critics of inflation targeting, most notably Don Kohn (forthcoming), who is member of the Board of Governors of the Federal Reserve, have also worried that inflation targeting may be too rigid because inflation-targeting central banks in advanced economies have often adopted a horizon for their infl ...
... Critics of inflation targeting, most notably Don Kohn (forthcoming), who is member of the Board of Governors of the Federal Reserve, have also worried that inflation targeting may be too rigid because inflation-targeting central banks in advanced economies have often adopted a horizon for their infl ...
mmi11 Watzka 15082660 en
... with estimated effects of the Fed’s asset purchases impact on longterm yields. Our study differs by using Japanese data which allows us to properly estimate the effects and uncertainty around the effects of the QE-shock. Chung et al. (2011) must either rely on a notoriously short sample period or el ...
... with estimated effects of the Fed’s asset purchases impact on longterm yields. Our study differs by using Japanese data which allows us to properly estimate the effects and uncertainty around the effects of the QE-shock. Chung et al. (2011) must either rely on a notoriously short sample period or el ...
The Costs of Inflation
... Step III: Calculate your deflator. You do this by dividing all of the CPIs by the CPI in the period you use as the “base period”. In this case it is August 2006. The deflator equals 1 in the base period. Step IV: Divide the average house price by the deflator. Result: There has been a real increase ...
... Step III: Calculate your deflator. You do this by dividing all of the CPIs by the CPI in the period you use as the “base period”. In this case it is August 2006. The deflator equals 1 in the base period. Step IV: Divide the average house price by the deflator. Result: There has been a real increase ...
Monetary Policy Statement September 2010 Contents
... The earthquake that struck Canterbury on 4 September has significantly disrupted economic activity and is likely to continue to do so for some time yet. Many homes and businesses have been damaged, as have significant parts of Canterbury’s public infrastructure. Eventual reconstruction and repairs w ...
... The earthquake that struck Canterbury on 4 September has significantly disrupted economic activity and is likely to continue to do so for some time yet. Many homes and businesses have been damaged, as have significant parts of Canterbury’s public infrastructure. Eventual reconstruction and repairs w ...
mmi14-vanveen 19106661 en
... structural changes in the euro area economy to suggest that the relative attractiveness of holding money as opposed to other financial instruments has been fundamentally altered in recent years”. Whatever the ultimate causes of high money growth, the result may signal excess liquidity in the economy ...
... structural changes in the euro area economy to suggest that the relative attractiveness of holding money as opposed to other financial instruments has been fundamentally altered in recent years”. Whatever the ultimate causes of high money growth, the result may signal excess liquidity in the economy ...
Monetary Policy Statement September 2015
... to increase only slightly during the projection – less than previously expected – supported in large part by stimulatory monetary policy, and in some areas by fiscal policy. However, there remains significant uncertainty about the outlook – especially for China, which has important flow-on effects t ...
... to increase only slightly during the projection – less than previously expected – supported in large part by stimulatory monetary policy, and in some areas by fiscal policy. However, there remains significant uncertainty about the outlook – especially for China, which has important flow-on effects t ...
More details
... America. The world biggest economy, America, for instance, conceded that they were sunk in economic depression. Economic depression was rooted from hypothecation credit crisis since end of 2007 that took away payment capacity of many banks, pushed banks into the brink of bankruptcy. Bear Stearns, fo ...
... America. The world biggest economy, America, for instance, conceded that they were sunk in economic depression. Economic depression was rooted from hypothecation credit crisis since end of 2007 that took away payment capacity of many banks, pushed banks into the brink of bankruptcy. Bear Stearns, fo ...
Macroeconomics II Lecture notes (2)
... has been considered more satisfactory from a theoretical viewpoint and has been adopted by several macroeconomic models aimed at explaining the basic mechanisms originating cyclical fluctuations, and particularly the positive correlation between nominal variables (such as monetary aggregates) and re ...
... has been considered more satisfactory from a theoretical viewpoint and has been adopted by several macroeconomic models aimed at explaining the basic mechanisms originating cyclical fluctuations, and particularly the positive correlation between nominal variables (such as monetary aggregates) and re ...
PDF Download
... The Latin-American debt crisis of the 1980s, after a decade of Latin-American deficit financing by petro-dollars via the American banking system, serves as an early example that non-sustainable foreign debt positions can arise in practice. ...
... The Latin-American debt crisis of the 1980s, after a decade of Latin-American deficit financing by petro-dollars via the American banking system, serves as an early example that non-sustainable foreign debt positions can arise in practice. ...
CHAPTER IX THEORIES OP INFLATION There are seven important
... Keynesian Theory of the Inflationary Gap Keynesians and believers in the quantity theory of money (implicitly or explicitly) are one in the belief that the immediate cause of inflation is excess demand, though they may disagree regarding the proximate and the ulti mate causes of excess demand itsel ...
... Keynesian Theory of the Inflationary Gap Keynesians and believers in the quantity theory of money (implicitly or explicitly) are one in the belief that the immediate cause of inflation is excess demand, though they may disagree regarding the proximate and the ulti mate causes of excess demand itsel ...
NBER WORKING PAPER SERIES FISCAL PREREQUISITES FOR A VIABLE A NON-TECHNICAL
... The paper first reviews the budget identities of the fiscal and monetary authorities and the solvency constraint or present value budget-constraint of the consolidated public sector, for closed and open economies. It then discusses the new conventional wisdom concerning the fiscal roots of inflation ...
... The paper first reviews the budget identities of the fiscal and monetary authorities and the solvency constraint or present value budget-constraint of the consolidated public sector, for closed and open economies. It then discusses the new conventional wisdom concerning the fiscal roots of inflation ...
Recovery in the Eurozone
... their spending. This additional spending could, for example, be focused on ‘green’ infrastructure projects. In the second proposal, the newly created money could be distributed equally between every citizen of the Eurozone. This type of “citizen’s dividend” would put additional purchasing power dire ...
... their spending. This additional spending could, for example, be focused on ‘green’ infrastructure projects. In the second proposal, the newly created money could be distributed equally between every citizen of the Eurozone. This type of “citizen’s dividend” would put additional purchasing power dire ...
Introduction to Business
... E-banking, or online banking, is becoming more popular worldwide, but the United States still relies heavily on paper checks. A recent survey revealed that of all the households that are on the Internet, only one in five also do their banking online. ...
... E-banking, or online banking, is becoming more popular worldwide, but the United States still relies heavily on paper checks. A recent survey revealed that of all the households that are on the Internet, only one in five also do their banking online. ...