Exchange Rate Pass-through, Nominal Wage Rigidities, and Monetary Policy in a Small Open Economy
This paper discusses the design of monetary policy in a New Keynesian small open economy framework by introducing nominal wage rigidities and incomplete exchange rate pass-through on import prices. Three main findings are summarized.
Hyuk-Jae Rhee, Jeongseok Song
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A Monetary Policy Rule Based on Nominal and Inflation-Indexed Treasury Yields [PDF]
The yields on nominal and inflation-indexed Treasury debt securities can be used to derive a proxy for the inflation expectations of financial market participants. This paper finds that one such measure has been an effective predictor of monetary policy decisions by the Federal Reserve since 1999.
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Assessing Nominal Income Rules for Monetary Policy with Model and Data Uncertainty [PDF]
Nominal income rules for monetary policy have long been debated, but two issues are of particular recent interest. First, there are questions about the performance of such rules over a range of plausible empirical models – especially models with and without explicit rational inflation expectations.
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Metas inflacionárias: a análise convencional e um modelo alternativo
Inflation targeting: the conventional analysis and an alternative model. This article has two aims: the first one is to present a formal model of the monetary policy identified generally as "inflation targeting policy", an instrument of intervention of ...
Luiz Antonio de Oliveira Lima
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Beralihnya sistem nilai tukar rupiah dari sistem mengambang terkendali (managed floating exchange rate) ke sistem nilai tukar mengambang penuh (floating exchange rate) memberikan dampak terhadap kebijakan moneter di Indonesia. Nilai tukar yang sebelumnya
Wijoyo Santoso, Iskandar Simorangkir
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Is debt restructuring needed to make the Stability and Growth Pact (more) credible?
The emergence of the so-called PIIGS crisis which in 2009 became acute due to strongly diverging risk premiums, marked the beginning of a new phase for the European Monetary Union.
Jens Körner
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مالية البنك المركزي والأحتياطيات الدولية
المستخلص مالية البنك المركزي العراقي بالعلاقة مع عملياته النقدية وادارة احتياطاته بالعملة الأجنبية هي المهمات الأساسية لهذا البحث. المؤشرات الرئيسية للميزانية العمومية والمجاميع النقدية قد تم عرضها لأضاءة عملية تراكم العملة الأجنبية في سياق ...
احمد ابريهي علي
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Optimal and Simple Monetary Policy Rules with Zero Floor on the Nominal Interest Rate [PDF]
Recent treatments of the issue of a zero floor on nominal interest rates have been subject to some important methodological limitations. These include the assumption of perfect foresight or the introduction of the zero lower bound as an initial condition or a constraint on the variance of the interest rate, rather than an occasionally binding non ...
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البيع بثمن تافه في القانون التونسي Sale at a Nominal Price in Tunisian Law [PDF]
يقوم البيع باعتباره عقد معاوضة على وجود ثمن نقدي يلتزم به المشتري كبديل لانتقال ملكية المبيع، غير أن الثمن يكون أحيانا تافهً أي أنه من الضآلة بحث يكون أقرب للعدم منه للوجود وتنعدم معه صفة المعاوضة في البيع، مما يطرح مسألة ضبط مفهوم التفاهة ومعياره وتمييز
نزار الحمروني
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ROMANIA – BETWEEN THE REAL CONVERGENCE AIM AND THE REALITY OF TERRITORIAL CONCENTRATION OF THE ECONOMIC DEVELOPMENT [PDF]
In contrast with the nominal convergence, the real convergence in the process of accession to the European Single market is a complex process and still not clarified enough from the methodology point of view.
Marioara, IORDAN +2 more
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