The Contribution Of Inflation To The Level And The Variability Of Nominal Interests Rates
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Author | : Markus Granziol |
Publisher | : |
Total Pages | : 15 |
Release | : 1988 |
Genre | : |
ISBN | : |
Download The Contribution of Inflation to the Level and the Variability of Nominal Interest Rates Book in PDF, Epub and Kindle
Author | : Mr.Bankim Chadha |
Publisher | : International Monetary Fund |
Total Pages | : 36 |
Release | : 1996-10-01 |
Genre | : Business & Economics |
ISBN | : 1451853165 |
Download Inflation, Nominal Interest Rates, and the Variability of Output Book in PDF, Epub and Kindle
This paper examines the distribution of output around capacity when money demand is a nonlinear function of the nominal interest rate such that nominal interest rates cannot become negative. When fluctuations in output result primarily from disturbances to the money market, the variance of output is shown to be an increasing function of the trend inflation rate. When they result from disturbances to the goods market, the variance of output is a decreasing function of the trend inflation rate. When both disturbances are significant, there exists, in general, a critical non-zero trend inflation rate that minimizes the variance of output.
Author | : Markus Granziol |
Publisher | : |
Total Pages | : 15 |
Release | : 1988 |
Genre | : |
ISBN | : |
Download The Contribution of Inflation to the Level and the Variability of Nominal Interests Rates? Book in PDF, Epub and Kindle
Author | : Frederic S. Mishkin |
Publisher | : Edward Elgar Publishing |
Total Pages | : 360 |
Release | : 1993 |
Genre | : Business & Economics |
ISBN | : |
Download Money, Interest Rates, and Inflation Book in PDF, Epub and Kindle
Frederick Mishkin's work has been dedicated to understanding the relationship between money, interest rates and inflation. The 15 essays in this collection - unabashedly empirical and rigorous - include much of Professor Mishkin's most highly regarded work. Money, Interst Rates and Inflation offers a coherent and informative assessment of how monetary policy affects the economy. In addition, the essays in this collection illustrate how rational expectations econometrics can be used to answer basic questions in the monetary-macroeconomics and finance areas.
Author | : Bankim Chadha |
Publisher | : |
Total Pages | : 31 |
Release | : 1994 |
Genre | : Economics |
ISBN | : |
Download Inflation, Nominal Interest Rates and the Variability of Output Book in PDF, Epub and Kindle
Author | : Lawrence H. Summers |
Publisher | : |
Total Pages | : 80 |
Release | : 1982 |
Genre | : Econometrics |
ISBN | : |
Download The Non-adjustment of Nominal Interest Rates Book in PDF, Epub and Kindle
This paper critically re-examines theory and evidence on the relation- ship between interest rates and inflation. It concludes that there is no evidence that interest rates respond to inflation in the way that classical or Keynesian theories suggest, For the period 1860-1940, it does not appear that inflationary expectations had any significant impact on rates of inflation in the short or long run. During the post-war period interest rates do appear to be affected by inflation. However, the effect is much smaller than any theory which recognizes tax effects would predict. Further- more, all the power in the inflation interest rate relationship comes from the 1965-1971 period. Within the 1950's or 1970's, the relationship is both statistically and substantively insignificant. Various explanations for the failure of the theoretically predicted relationship to hold are considered. The relationship between inflation and interest rates remains weak at the even low frequencies. This is taken as evidence that cyclical factors or errors in measuring inflation expectations cannot account for the failure of the results to bear out Fisher's theoretical prediction. Rather, comparison of real interest rates and stock market yields suggests that Fisher was correct in pointing to money illusion as the cause of the imperfect adjustment of interest rates to expected inflation.
Author | : Karl Brunner |
Publisher | : |
Total Pages | : 320 |
Release | : 1981 |
Genre | : Cost and standard of living |
ISBN | : |
Download The Costs and Consequences of Inflation Book in PDF, Epub and Kindle
Author | : Peter J. N. Sinclair |
Publisher | : Routledge |
Total Pages | : 402 |
Release | : 2009-12-16 |
Genre | : Business & Economics |
ISBN | : 1135179778 |
Download Inflation Expectations Book in PDF, Epub and Kindle
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 | : Heather Lee Rukmani Tierney |
Publisher | : |
Total Pages | : 252 |
Release | : 2005 |
Genre | : Fisher effect (Economics) |
ISBN | : |
Download Essays on Inflation and Nominal Interest Rates Book in PDF, Epub and Kindle
Author | : Charles Freedman |
Publisher | : International Monetary Fund |
Total Pages | : 27 |
Release | : 2009-04-01 |
Genre | : Business & Economics |
ISBN | : 145187233X |
Download Why Inflation Targeting? Book in PDF, Epub and Kindle
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.