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Author: Shiou-Yen Chu
Publisher:
ISBN:
Category :
Languages : en
Pages : 14
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Author: Shiou-Yen Chu
Publisher:
ISBN:
Category :
Languages : en
Pages : 14
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Book Description
Author: Miloslav S. Vošvrda
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 14
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Author: Carl E. Walsh
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Gauti B. Eggertsson
Publisher:
ISBN: 9781457845727
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
A rich literature from the 1970s shows that as inflation expectations become more and more ingrained, monetary policy loses its stimulative effect. In the extreme, with perfectly anticipated inflation, there is no trade-off between inflation and output. Recent literature on the interest-rate zero lower bound, however, suggests there may be some benefits from anticipated inflation when the economy is in a liquidity trap. This study reconciles these two views by showing that while it is true that, at positive interest rates, the greater the anticipated inflation the less stimulative are the effects, the opposite holds true at the zero bound. Indeed, at the zero bound, the more the public anticipates inflation, the greater is the expansionary effect of inflation on output. This leads the authors to revisit the trade-off between inflation and output and to show how radically it changes in the face of demand shocks large enough to bring the economy into a liquidity trap. Instead of vanishing once inflation becomes anticipated, the trade-off between inflation and output increases substantially and may become arbitrarily large. In such cases, raising the inflation target in a liquidity trap can be very stimulative. Figures. This is a print on demand report.
Author: Mario I. Blejer
Publisher:
ISBN:
Category :
Languages : en
Pages : 16
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Author: Anthony Yates
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Using post-war data on 43 countries, this paper shows that the finding that the trade-off between inflation and output falls as inflation rises is quite robust. The implication is that the real effects of monetary policy might be greater as the economy moves towards price stability. The paper also looks at whether economies should approach price stability quickly or slowly and finds, in common with other research, that fast disinflations tend to cost less in terms of lost output.
Author: Jack Rabin
Publisher: CRC Press
ISBN: 0585425515
Category : Business & Economics
Languages : en
Pages : 1009
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Book Description
This handbook explains the development and implementation of monetary policy. It examines theories and issues related to the preservation of economic activity and explores why the preservation of economic stability is a principal goal of public policy.
Author: Ernst Baltensperger
Publisher:
ISBN:
Category :
Languages : en
Pages : 12
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Author: Weshah Razzak
Publisher:
ISBN:
Category : Consumer price indexes
Languages : en
Pages : 36
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Author: Prakash Loungani
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 36
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