Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Download Imperfect Credibility And Inflation Persistence full books in PDF, epub, and Kindle. Read online Imperfect Credibility And Inflation Persistence ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Author : Christopher J. Erceg
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (138 download)
Download or read book Imperfect Credibility and Inflation Persistence written by Christopher J. Erceg and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Christopher J. Erceg
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.E/5 ( download)
Download or read book Imperfect Credibility and Inflation Persistence written by Christopher J. Erceg and published by . This book was released on 2001 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jeremy Bay Rudd
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.E/5 ( download)
Download or read book Inflation Targets, Credibility, and Persistence in a Simple Sticky-price Framework written by Jeremy Bay Rudd and published by . This book was released on 2003 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Michael Kumhof
Publisher : International Monetary Fund
ISBN 13 : 1451851049
Total Pages : 28 pages
Book Rating : 4.4/5 (518 download)
Download or read book Pricing Policies and Inflation Inertia written by Mr.Michael Kumhof and published by International Monetary Fund. This book was released on 2003-04-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a monetary model with nominal rigidities that differs from the conventional New Keynesian model with firms setting pricing policies instead of price levels. In response to permanent or highly persistent monetary policy shocks this model generates the empirically observed slow (inertial) and prolonged (persistent) reaction of the inflation rate, and also the recession that typically accompanies moderate disinflations. The reason is that firms respond to such shocks mostly through a change in the long-run or inflation updating component of their pricing policies. With staggered pricing policies there is a time lag before this is reflected in aggregate inflation.
Author : Juan A. García
Publisher :
ISBN 13 :
Total Pages : 420 pages
Book Rating : 4.:/5 (248 download)
Download or read book Essays in Credibility and the Source of Inflation Persistence written by Juan A. García and published by . This book was released on 2000 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Inflation Targeting Under Imperfect Policy Credibility written by and published by . This book was released on 2009 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Juan A. García
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (248 download)
Download or read book Essays in Credibility and the Source of Inflation Persistence written by Juan A. García and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Peter J. N. Sinclair
Publisher : Routledge
ISBN 13 : 1135179778
Total Pages : 402 pages
Book Rating : 4.1/5 (351 download)
Download or read book Inflation Expectations written by Peter J. N. Sinclair and published by Routledge. This book was released on 2009-12-16 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
Author : Ning Zeng
Publisher :
ISBN 13 : 9781909757318
Total Pages : 96 pages
Book Rating : 4.7/5 (573 download)
Download or read book Inflation Since World War Ii Persistence, Credibility and Stability written by Ning Zeng and published by . This book was released on 2014-04 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses inflation persistence, monetary credibility and stability through modelling US macroeconomic and financial data in the post-war period. First, an ARFIMA-EGARCH model is used to generate estimations capturing the stylized facts of inflation dynamics and examine the links between the inflation rate, volatility and inflation persistence. Then a modified and reduced form of accelerationist Phillips curve is employed to analyse the inflation-unemployment trade-off and thus assess monetary policy credibility. Finally, a conditional constant correlation bivariate EGARCH-in-mean model is used to investigate interactions among inflation rates, stock returns and their respective volatilities. Results provide new evidence that inflation and its volatility are involved in more active interactions in a high inflation environment, whereas less or little related when the inflation rate is lower. The core findings also suggest that the degree of inflation persistence is a reliable measure of monetary credibility. Moreover, promoting monetary stability contributes to more mutual interactions between inflation rates, stock returns and their respective volatilities. In particular, common stock is a more effective hedge against inflation, and the level of the inflation rate is central to explaining the relation between the two volatilities.
Author : Marcus Miller
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (318 download)
Download or read book Contacts, Credibility and Common Knowledge written by Marcus Miller and published by International Monetary Fund. This book was released on 1992-03 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper three possible reasons are examined for a sluggish inflation response to a hard currency peg. Models of overlapping wage contracts are analyzed and shown to generate little inertia. This contrasts with the effects of government credibility and the speed of private sector learning, which are shown to have a major impact on the speed of inflation adjustment. But even if individual agents believe the government will not devalue, it is shown that inflation inertia can still arise if these expectations are not common knowledge.
Author : Ben S. Bernanke
Publisher : University of Chicago Press
ISBN 13 : 0226044734
Total Pages : 469 pages
Book Rating : 4.2/5 (26 download)
Download or read book The Inflation-Targeting Debate written by Ben S. Bernanke and published by University of Chicago Press. This book was released on 2007-11-01 with total page 469 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past fifteen years, a significant number of industrialized and middle-income countries have adopted inflation targeting as a framework for monetary policymaking. As the name suggests, in such inflation-targeting regimes, the central bank is responsible for achieving a publicly announced target for the inflation rate. While the objective of controlling inflation enjoys wide support among both academic experts and policymakers, and while the countries that have followed this model have generally experienced good macroeconomic outcomes, many important questions about inflation targeting remain. In Inflation Targeting, a distinguished group of contributors explores the many underexamined dimensions of inflation targeting—its potential, its successes, and its limitations—from both a theoretical and an empirical standpoint, and for both developed and emerging economies. The volume opens with a discussion of the optimal formulation of inflation-targeting policy and continues with a debate about the desirability of such a model for the United States. The concluding chapters discuss the special problems of inflation targeting in emerging markets, including the Czech Republic, Poland, and Hungary.
Author : Man-Keung Tang
Publisher : International Monetary Fund
ISBN 13 : 1463902190
Total Pages : 34 pages
Book Rating : 4.4/5 (639 download)
Download or read book Communication of Central Bank Thinking and Inflation Dynamics written by Man-Keung Tang and published by International Monetary Fund. This book was released on 2011-08-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the role of central bank communication of its economic assessment in shaping inflation dynamics. Imperfect information about the central bank's assessment - or the basis for monetary policy decisions - could complicate the private sector's learning about its policy response function. We show how clear central bank communication, which facilitates agents' understanding of policy reasoning, could bring about less volatile inflation and interest rate dynamics, and afford the authorities with greater policy flexibility. We then estimate a simple monetary model to fit the Mexican economy, and use the suggested paramters to illustrate the model's quantitative implications in scenarios where the timing, nature and persistence of shocks are uncertain.
Author : Rudolfs Bems
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 (126 download)
Download or read book Expectations' Anchoring and Inflation Persistence written by Rudolfs Bems and published by . This book was released on 2021 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding the sources of inflation persistence is crucial for monetary policy. This paper provides an assessment of the influence of inflation expectations' anchoring on the persistence of inflation. We construct an index of inflation expectations' anchoring using survey-based inflation forecasts for 45 economies since 1989. We then study the response of consumer prices to terms-of-trade shocks and find that these shocks have a significant and persistent effect on consumer price inflation when expectations are poorly anchored. By contrast, inflation reacts by less and returns quickly to its pre-shock level when expectations are strongly anchored.
Author : Charles Freedman
Publisher : International Monetary Fund
ISBN 13 : 145187233X
Total Pages : 27 pages
Book Rating : 4.4/5 (518 download)
Download or read book Why Inflation Targeting? written by Charles Freedman and published by International Monetary Fund. This book was released on 2009-04-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the second chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation-Targeting Regimes: Saying What You Do and Doing What You Say." We begin by discussing the costs of inflation, including their role in generating boom-bust cycles. Following a general discussion of the need for a nominal anchor, we describe a specific type of monetary anchor, the inflation-targeting regime, and its two key intellectual roots-the absence of long-run trade-offs and the time-inconsistency problem. We conclude by providing a brief introduction to the way in which inflation targeting works.
Download or read book Opportunistic and Deliberate Disinflation Under Imperfect Credibility written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Federal Reserve Bank of San Francisco presents the full text of an article entitled "Opportunistic and Deliberate Disinflation Under Imperfect Credibility," by Antulio N. Bomfim and Glenn D. Rudebusch. The article discusses a comparison of two strategies to achieve disinflation: deliberate action to reduce inflation and waiting for unforeseen shocks to reduce inflation.
Author : Jan Babecký
Publisher :
ISBN 13 : 9788073431532
Total Pages : 0 pages
Book Rating : 4.4/5 (315 download)
Download or read book Assessing Inflation Persistence written by Jan Babecký and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John Carroll Williams
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (98 download)
Download or read book Inflation Persistence in an Era of Well-Anchored Inflation Expectations written by John Carroll Williams and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
