inflation persistence and monetary policy in an open economy setting

... standard monetary policy in EMEs g g p g p • Eg, Singapore, HK, Indonesia, in dealing with capital inflows and asset price inflation pressures Comments on Inflation Dynamics and Monetary Policy ... corridor, corridor incorporating both a lending rate and a deposit rate, as an important tool of monetary policy 31 Thank Th k you 32 Comments on Inflation Dynamics and Monetary Policy in Vietnam” ... Dynamics and Monetary Policy in Vietnam Rina Bhattacharya and Nombulelo Duma International Monetary Fund Discussant: Nguyen Do Quoc Tho State Bank of Vietnam Outline 1 Monetary policy transmission...

Ngày tải lên: 12/07/2014, 12:01

... “pricing to market” thay đổi tỷ giá có hiệu ứng truyền dẫn hoàn toàn đến giá nhập Tổng quan nghiên cứu trước  Gosh and Wolf, 2001, “Imperfect Exchange Rate PassThrough: Strategic Pricing and ... đưa vào phân tích nghiên cứu Tổng quan nghiên cứu trước  McCarthy, 2000, “Pass-Through of Exchange Rates and Import Prices to Domestic Inflation in Some Industrialized Economies”  Bài báo nghiên ... EXCHANGE RATE PASS - THROUGH AND MONETARY POLIICY IN CROATIA GIỚI THIỆU TỔNG QUAN LÝ THUYẾT VẤN ĐỀ DỮ LIỆU PHÂN TÍCH THỰC NGHIỆM KẾT LUẬN...

Ngày tải lên: 10/04/2014, 13:10

Ngày tải lên: 31/05/2014, 01:31

... CC , and leads to higher investment at I1 Aggregate demand rises Y1 Income to AD1, and the new equilibrium is at Y1 25.11 Aggregate demand Fiscal policy and crowding out 45o line Suppose an increase ... developed by Ando and Modigliani Actual income Permanent income Income varies over an individual's lifetime Individuals try to smooth their consumption, based on expected lifetime income Savings occur ... Bringing together the real and financial sectors Having seen equilibrium in the goods and money markets separately, it is now time to explore the links between them and to look at simultaneous...

Ngày tải lên: 03/02/2015, 15:28

... rate” in Canada and Australia, and the “official cash rate” (OCR) in New Zealand; in all of these countries, changes in the central bank’s operating target are announced in terms of changes in this ... emphasized in the Bank’s announcements of policy changes; instead, more emphasis was given to the boundaries of the “operating band” or channel, and policy changes were announced in terms of changes in ... requires an increase in the opportunity cost of centralbank clearing balances, for one can easily pay interest on these balances, and the interest rate paid on overnight balances can be raised in tandem...

Ngày tải lên: 28/11/2014, 17:18

... rate” in Canada and Australia, and the “official cash rate” (OCR) in New Zealand; in all of these countries, changes in the central bank’s operating target are announced in terms of changes in this ... emphasized in the Bank’s announcements of policy changes; instead, more emphasis was given to the boundaries of the “operating band” or channel, and policy changes were announced in terms of changes in ... requires an increase in the opportunity cost of centralbank clearing balances, for one can easily pay interest on these balances, and the interest rate paid on overnight balances can be raised in tandem...

Ngày tải lên: 29/11/2014, 11:26

... manufacturing and maintaining air conditioning and freezing facilities In 2004, the dominant shareholder, Nanhuaxi Enterprise Group held a 64 percent equity stake in the listed company, and it also ... where managers pursue private benefits at the cost of the shareholders‟ interests In continental Europe and Japan, ownership is highly concentrated in the hands of main banks and financial institutions ... capability and incentives of monitoring downstream managers between government bureaucrats and SOE managers If SOE managers in intermediate controlling firms have more technical capabilities and financial...

Ngày tải lên: 12/09/2015, 11:24

... result of increased demand for labor, workers would update their expectations and demand higher wages in the future, resulting in lowered demand for labor Thus, to maintain the increase in employment, ... E Kydland and Edward C Prescott initiated a new era in macroeconomic modeling with their seminal article Time to Build and Aggregate Fluctuations in 1982 (Kydland and Prescott, 1982) Since then, ... is dominant in both models and for both imported and domestic inflation For the homogeneous model the coefficient estimates for the lead terms in domestic and imported inflation are 0.91 and 0.84,...

Ngày tải lên: 11/12/2016, 20:38

... Autonomous changes in money demand Shift in the LM Curve from an Increase in the Money Supply Shift in the LM Curve from a Decrease in the Money Supply Response to a Change in Monetary Policy • An increase ... out investment spending and net exports • The less interest-sensitive money demand is, the more effective monetary policy is relative to fiscal policy Effectiveness of Monetary and Fiscal Policy ... Fiscal Policy I • An increase in government spending raises aggregate demand directly; a decrease in taxes makes more income available for spending • The increase in aggregate demand cause aggregate...

Ngày tải lên: 05/01/2014, 17:00

... de Fiore and Z Liu, September 2002 174 “International monetary policy coordination and financial market integration” by A Sutherland, September 2002 175 Monetary policy and the financial accelerator ... (http://www.ecb.int) 113 “Financial frictions and the monetary transmission mechanism: theory, evidence and policy implications” by C Bean, J Larsen and K Nikolov, January 2002 114 Monetary transmission in the ... Proposal by Orphanides and Wieland (2000) Orphanides and Wieland (2000) (OW) recommend expanding the monetary base aggressively during episodes of zero interest rates to exploit direct quantity effects...

Ngày tải lên: 22/03/2014, 23:20

... Dong He and Honglin Wang Dual-track Interest Rates and the Conduct of Monetary Policy in China Dong He and Honglin Wang Dual-track Interest Rates and the Conduct of Monetary Policy in China Tiivistelmä ... longer bank-only market 13 Dong He and Honglin Wang Dual-track Interest Rates and the Conduct of Monetary Policy in China Interest rates (yields) in the interbank money and bond market are determined ... can be described as follows: • (Implicit) final targets: inflation, growth, and financial stability • (Indicative) intermediate targets: M2, banking-system credit, and fundraising in money and...

Ngày tải lên: 29/03/2014, 13:20

... various countries in the monetary union, Fernanda Nechio groups Italy with the core countries (Austria, Belgium, France, Finland, Germany, and the Netherlands) as “its inflation rate and unemployment ... Background and Literature Review The European Central Bank is “responsible for monetary policy in the euro area” and began with its mission of controlling inflation in the Eurozone, with its target inflation ... policy that was too expansionary for Spain and Ireland, causing a substantial acceleration of their inflation and threatening their competitiveness Such disparities of demand conditions will undoubtedly...

Ngày tải lên: 29/03/2014, 13:20

... comprehensive and coordinated Doi Moi reforms that included reforms in public finance and in Vietnam’s banking and financial sector In 1988 the Prime Minister signed Decree No 53/ND which ended the monobank ... Hien Minh, Do Xuan Trong, Hoang Van Thanh, and Pham Chi Quang 2001 Exchange Rate in Vietnam: Arrangement, Information Content and Policy Options Central Institute for Economic Management Hanoi ... sector, the informal urban sector, and the formal urban sector The degree of mobility between these sectors is in part socially and institutionally determined, and in part determined by policyinduced...

Ngày tải lên: 28/11/2014, 17:18

... comprehensive and coordinated Doi Moi reforms that included reforms in public finance and in Vietnam’s banking and financial sector In 1988 the Prime Minister signed Decree No 53/ND which ended the monobank ... Hien Minh, Do Xuan Trong, Hoang Van Thanh, and Pham Chi Quang 2001 Exchange Rate in Vietnam: Arrangement, Information Content and Policy Options Central Institute for Economic Management Hanoi ... sector, the informal urban sector, and the formal urban sector The degree of mobility between these sectors is in part socially and institutionally determined, and in part determined by policyinduced...

Ngày tải lên: 29/11/2014, 11:26

... consisting of Commercial and Industry Bank of China, Bank of China, and Agricultural Bank of China and Construction Bank of China Non-state banks loans: loans from private banks, holding banks and ... the bank lending channel, the interest rate channel and the asset price channel by using the aggregate and disaggregated banks data in term of bank and loans types Furthermore, we explore and ... sizes, and seek more evidence for the existence of the bank lending channel and other channels in China's monetary policy transmission As we did above, we choose CIBR and growth rate of M2 as the indicators...

Ngày tải lên: 18/06/2016, 20:56

... Group Inc Copying or distributing in print or electronic forms without written permission of Idea Group Inc is prohibited Managing and Practicing OD in an IT Environment 257 performance and minimize ... Productive workplaces: Organizing and managing for dignity, meaning and community San Francisco: Jossey-Bass Copyright © 2005, Idea Group Inc Copying or distributing in print or electronic forms ... Idea Group Inc Copying or distributing in print or electronic forms without written permission of Idea Group Inc is prohibited Managing and Practicing OD in an IT Environment 249 human and opportunity...

Ngày tải lên: 24/10/2013, 08:20

... Public administration and public policy in Ireland: theory and methods/edited by Maura Adshead and Michelle Millar p.cm Includes bibliographical references and index Ireland—Politics and government—1949–2 ... agri-environmental policy in Ireland MARK EVANS AND LIAM COEN Pluralism and the politics of morality GARY MURPHY Marxism, the state and homelessness in Ireland EOIN O’SULLIVAN Feminism and politics of ... origins and outlook, and the social and personal intermingling of the top circles from each of these dominant hierarchies (Mills 1956:292) Public administration and public policy in Ireland The...

Ngày tải lên: 15/02/2014, 20:20

... grouped as intermediate.19 Central wage bargaining systems prevail in Belgium, Finland and Ireland and also in Austria and the Netherlands, where wage negotiations take place predominantly on the ... bargaining on the central (national) level in five countries, covering either the whole economy (in Finland and Ireland), the private sector (in Belgium and Greece) or the industrial sector (in ... differences in the meaning and scope of sector wage bargaining across countries In Ireland and the United Kingdom, sector wage bargaining is restricted to a small number of branches; in other countries,...

Ngày tải lên: 20/02/2014, 20:20

... reserves for monetary policy The main practical point of this paper is that a central bank can implement interest rate policy by paying and varying interest on reserves without maintaining an interest ... provide the quantity of reserves and currency that the economy demands at that federal funds rate The quantity of monetary base demanded adjusts so that the Interest on Reserves and Monetary Policy ... make full use of two monetary policy instruments open market operations and interest on reserves—to enable a central bank to simultaneously pursue interest rate policy and an independent objective...

Ngày tải lên: 06/03/2014, 02:21