Can global economic conditions explain low New Zealand inflation? AN2015/03
... Monetary policy is always set in an environment of significant uncertainty. At the same time, monetary policy takes 18-24 months to have its full effect on economic activity and inflation. Consequently, the Bank uses economic forecasts to guide policy decisions. It is inevitable, however, that there ...
... Monetary policy is always set in an environment of significant uncertainty. At the same time, monetary policy takes 18-24 months to have its full effect on economic activity and inflation. Consequently, the Bank uses economic forecasts to guide policy decisions. It is inevitable, however, that there ...
NBER WORKING PAPER SERIES CHOOSING THE FEDERAL RESERVE CHAIR: LESSONS FROM HISTORY
... (Minutes, 1/26/37, p. 3). Policymakers also felt that “the increase in reserve requirements was fully justified in order to put the System in position to exercise credit control through open market operations whenever such action appeared to be necessary” (3/15/37, p. 9; see also 1/26/37, pp. 5-7). ...
... (Minutes, 1/26/37, p. 3). Policymakers also felt that “the increase in reserve requirements was fully justified in order to put the System in position to exercise credit control through open market operations whenever such action appeared to be necessary” (3/15/37, p. 9; see also 1/26/37, pp. 5-7). ...
IV. Globalization and The Efficiency of Equilibrium
... increased openness exerts a negative and significant impact on sectoral prices. They show further that this effect of openness on prices occurs both through lower markups and increases in productivity. Their results suggest that the increase in the trade volume can account for as much as a quarter o ...
... increased openness exerts a negative and significant impact on sectoral prices. They show further that this effect of openness on prices occurs both through lower markups and increases in productivity. Their results suggest that the increase in the trade volume can account for as much as a quarter o ...
NATIONAL
... All that is required (for stabilization) is a change in the structure of taxation and spending, typically the elimination of the inflation tax balanced by a decrease in subsidies. We do not ordinarily think of changes in taxation as major contractionary factors.... If the decrease in subsidies and t ...
... All that is required (for stabilization) is a change in the structure of taxation and spending, typically the elimination of the inflation tax balanced by a decrease in subsidies. We do not ordinarily think of changes in taxation as major contractionary factors.... If the decrease in subsidies and t ...
Martin Feldstein Working Paper No. 680 NBER's project 1050
... the income from capital used in the nonfinancial corporate sector. The total effective tax rate has risen from less than 60 percent in the mid—1960's to more than 70 percent in the late 1970's. (2) The higher effective tax rate reduces the real net rate of return to those who provide investment capi ...
... the income from capital used in the nonfinancial corporate sector. The total effective tax rate has risen from less than 60 percent in the mid—1960's to more than 70 percent in the late 1970's. (2) The higher effective tax rate reduces the real net rate of return to those who provide investment capi ...
inflation modeling for the sudan 1970-2002
... strain of warfare and its disruption of production. “In the 1920’s, stable price levels had been resorted almost everywhere. In 1930’s,the great depression spread over to many countries. Most of the industrial countries experienced declining prices and the cost of living decreased substantially. Wit ...
... strain of warfare and its disruption of production. “In the 1920’s, stable price levels had been resorted almost everywhere. In 1930’s,the great depression spread over to many countries. Most of the industrial countries experienced declining prices and the cost of living decreased substantially. Wit ...
dees mmi08 6664950 en
... could be a unit root process (at least in the case of some economies), or its mean might have been subject to structural breaks as some have argued in the case of the industrialised economies over the past two decades. It is also not clear that the HP filter is appropriate for the identification of ...
... could be a unit root process (at least in the case of some economies), or its mean might have been subject to structural breaks as some have argued in the case of the industrialised economies over the past two decades. It is also not clear that the HP filter is appropriate for the identification of ...
Lecture Note on Classical Macroeconomic Theory
... fundamental assumptions of Classical macro theory are (1) that equilibrium values of most real variables can be determined without knowing the price level or the inflation rate; and (2) that the equilibrium value of the price level and the inflation rate are determined primarily by the central bank’ ...
... fundamental assumptions of Classical macro theory are (1) that equilibrium values of most real variables can be determined without knowing the price level or the inflation rate; and (2) that the equilibrium value of the price level and the inflation rate are determined primarily by the central bank’ ...
The Transmission mechanism of monetary policy
... influence on domestic inflationary pressure. For example, if demand for labour exceeds the supply available, there will tend to be upward pressure on wage increases, which some firms may be able to pass through into higher prices charged to consumers. Fourth, exchange rate movements have a direct ef ...
... influence on domestic inflationary pressure. For example, if demand for labour exceeds the supply available, there will tend to be upward pressure on wage increases, which some firms may be able to pass through into higher prices charged to consumers. Fourth, exchange rate movements have a direct ef ...
Monetary Policy Statement December 2007 Contents
... costs for firms, and indirectly via increased household spending. Furthermore, the fact that next year is an election ...
... costs for firms, and indirectly via increased household spending. Furthermore, the fact that next year is an election ...
Stabilisation policy under Romer IS-MP-IA
... between the CB’s preferences over inflation and output and the parameters as the Taylor rule is only an ad-hoc, reduced-form, way of modelling CB behaviour. Later, I show mathematically that the source of dovishness (φy or φπ ) matters for the equilibrium outcome. However, the optimal (discretionary ...
... between the CB’s preferences over inflation and output and the parameters as the Taylor rule is only an ad-hoc, reduced-form, way of modelling CB behaviour. Later, I show mathematically that the source of dovishness (φy or φπ ) matters for the equilibrium outcome. However, the optimal (discretionary ...
Financial Cycle, Financial Stability and Monetary Policy
... What Is This Presentation Focusing On? ...
... What Is This Presentation Focusing On? ...
the inflation rate determined as a change in the gdp deflator and in cpi
... general level of prices of goods and services in an economy over a period of time. At the consumer level, inflation is perceived as a decline in the purchasing power of the money. Important to be measured, different methods to estimate price raise amplitude have been used, but two of them are custom ...
... general level of prices of goods and services in an economy over a period of time. At the consumer level, inflation is perceived as a decline in the purchasing power of the money. Important to be measured, different methods to estimate price raise amplitude have been used, but two of them are custom ...
Zimbabwe - COMESA Monetary Institute (CMI)
... place, aimed at containing money supply growth to levels consistent with desired inflation targets. Reserve money, which was fairly and reasonably under the control of the Central Bank at the time, became the operational target, while interest rates (through use of the Bank Rate) were the main instr ...
... place, aimed at containing money supply growth to levels consistent with desired inflation targets. Reserve money, which was fairly and reasonably under the control of the Central Bank at the time, became the operational target, while interest rates (through use of the Bank Rate) were the main instr ...
The AD-AS Model and Monetary Policy
... Just because the Bank of Canada drops interest rates, that does not necessarily mean that people or businesses will go out and borrow money. ...
... Just because the Bank of Canada drops interest rates, that does not necessarily mean that people or businesses will go out and borrow money. ...
united states monetary policy in the post-bretton
... had the Great Recession.” John Taylor [See Taylor (2010). p.166] It has become almost conventional wisdom that 2007/8 was the ‘moment’ a series of bubbles burst that had been inflated by overly loose monetary policy following the recession of 2001. John Taylor’s views on this (see Taylor, 2009, and ...
... had the Great Recession.” John Taylor [See Taylor (2010). p.166] It has become almost conventional wisdom that 2007/8 was the ‘moment’ a series of bubbles burst that had been inflated by overly loose monetary policy following the recession of 2001. John Taylor’s views on this (see Taylor, 2009, and ...
NBER WORKING PAPER SERIES MONETARY RULES FOR SMALL, OPEN, EMERGING ECONOMIES Douglas Laxton
... tory representation of trade and macroeconomic interdependencies between a large industrialized country and a small open economy. Next, we calibrate the model with particular attention to its ability to simulate realistic dynamic responses of relevant macroeconomic variables to a variety of shocks. ...
... tory representation of trade and macroeconomic interdependencies between a large industrialized country and a small open economy. Next, we calibrate the model with particular attention to its ability to simulate realistic dynamic responses of relevant macroeconomic variables to a variety of shocks. ...
effectiveness of monetary policy tools in
... between their own incomes and rising prices. To them, higher prices represent diminished real income. The marginal social cost of unemployment is higher when unemployment is high. Since labour supply is inelastic, the marginal value of time in other uses falls if unemployment rises, and rises if une ...
... between their own incomes and rising prices. To them, higher prices represent diminished real income. The marginal social cost of unemployment is higher when unemployment is high. Since labour supply is inelastic, the marginal value of time in other uses falls if unemployment rises, and rises if une ...
