Thuyết trình Exchange Rate pass-through and monetary policy in Croatia

... T HỊ C HÂU LO A N LÊ NG U YỄN Q U Ố C T RUNG EXCHANGE RATE PASS-THROUGH AND MONETARY POLICY IN CROATIA Trường Đại học Kinh tế Thành phố Hồ Chí Minh Viện đào tạo sau đại học Khoa Tài Chính Doanh ... (Kiểm định WALD) GIỚI THIỆU 1 TỔNG QUAN LÝ THUYẾT 2 VẤN ĐỀ DỮ LIỆU3 PHÂN TÍCH THỰC NGHIỆM4 KẾT LUẬN 5 EXCHANGE RATE PASS - THROUGH AND MONETARY POLIICY IN CROATIA Hình...

Ngày tải lên: 10/04/2014, 13:10

... short-term nominal interest rate is well above zero, the central bank can ease monetary policy by expanding the supply of the monetary base and bringing down the short-term rate of interest. Since prices ... effect on the nominal interest rate, and a negative interest rate prescribed by the interest rate rule cannot be implemented. Orphanides and Wieland (2000) illustrate...

Ngày tải lên: 22/03/2014, 23:20

... would fall, both acting as offsetting stabilizers of the countries weak demand. But this will not be possible within the EMU, where a single interest rate and a single exchange rate prevail. Result: ... may provide some insight into the level of fit between the ECB rate and countries that either are interested in, or at one point were interested in, becoming a part of the mo...

Ngày tải lên: 29/03/2014, 13:20

... Revision of Nominal Effective Exchange Rate (NEER) and Real Effective Exchange Rate (REER) Indices * The indices of Nominal Effective Exchange Rate (NEER) and Real Effective Exchange Rate (REER) ... Specifically, Where e : Exchange rate of Indian rupee against a numeraire, i.e., the IMF’s Special Drawing Rights (SDRs) in indexed form, * Prepared jointly in the Div...

Ngày tải lên: 17/09/2012, 16:47

... the interest rate higher • The rise in the interest rate eliminates the excess demand for money • Aggregate output and the interest rate are positively related to government spending and negatively ... Pearson Canada Inc. 23 - 7 Response to a Change in Monetary Policy • An increase in the money supply creates an excess supply of money • The interest rate declines...

Ngày tải lên: 05/01/2014, 17:00

... real interest rate, adjusted for the effects of taxation. Monetary Policy Rules Interest rates are determined as part of monetary policy. In the NiGEM model, changes in the rate of interest ... wage and monetary policy for the inter- est rates within the euro area are shown in Fig- ure 4. During the entire simulation, the interest rate remains below the base solutio...

Ngày tải lên: 20/02/2014, 20:20

... employing interest on reserves as a monetary policy instrument. The financing of interest on reserves is considered in Section IV. Paying a market rate of interest on reserves could very well increase ... System. Interest on Reserves and Monetary Policy Marvin Goodfriend is senior vice president and policy advisor at the Federal Reserve Bank of Richmond. M 2 Interest on...

Ngày tải lên: 06/03/2014, 02:21

... and risk premiums in asset markets including inflation risk premiums would rise. The combination of - 17 - increased uncertainty for households and businesses, higher risk premiums in ... certainly increase more slowly over the remainder of this year, though it should continue to advance at a solid pace. In contrast, outside of a few areas such as drilling and mining, b...

Ngày tải lên: 08/03/2014, 08:20

... of monetary policy by creating genuine news (e.g., by moving short-term interest rates in a desired way) or by reducing noise (e.g., by lowering market uncertainty). There are two main strands ... publishing the numerical path of future policy rates that underlies their macroeconomic forecasts. Sweden and Iceland recently joined a small group that includes New Zealand and Norw...

Ngày tải lên: 15/03/2014, 10:20

... Results indicate that, all other factors being equal, a 1% increase in the monetary policy indicator leads to a decline in lending for the average bank of 0.6% in the short term and -1.0% in the ... 2009. 1070 Monetary policy committees: meetings and outcomes” by J. M. Berk and B. K. Bierut, July 2009. 1071 “Booms and busts in housing markets: determinants and impl...

Ngày tải lên: 15/03/2014, 10:20