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Author: Felix Hammermann Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
We document that a persistent inflation differential has opened across different groups of transition economies since 2001, with the CIS-West seeing particularly high outcomes. We consider a range of non-monetary explanations discussed in the literature (economic structure, policy and institutions), and controlling for economic shocks, we find a role for political stability, as emphasized in previous cross-country work. However, our results suggest that lagging internal and external liberalization have been the key disincentives to disinflation. Consequently, lower inflation targets would not be credible in the absence of stronger structural and monetary policy frameworks.
Author: Felix Hammermann Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
We document that a persistent inflation differential has opened across different groups of transition economies since 2001, with the CIS-West seeing particularly high outcomes. We consider a range of non-monetary explanations discussed in the literature (economic structure, policy and institutions), and controlling for economic shocks, we find a role for political stability, as emphasized in previous cross-country work. However, our results suggest that lagging internal and external liberalization have been the key disincentives to disinflation. Consequently, lower inflation targets would not be credible in the absence of stronger structural and monetary policy frameworks.
Author: Mr. Serhan Cevik Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 17
Book Description
The post-pandemic rise in consumer prices across the world has renewed interest in inflation dynamics after decades of global disinflation. This paper provides a spatial investigation of inflation synchronicity at the city level in Lithuania using disaggregated monthly data during the period 2000–2021. The empirical analysis provides strong evidence that (i) the co-movement of city-level inflation rates—estimated using the instantaneous quasi-correlation approach—is significantly weaker than the extent of synchronization suggested by the simple correlation analysis; (ii) there is substantial heterogeneity in the instantaneous quasi-correlation of inflation subcomponents between city pairs; and (iii) there are significant changes in the degree of city-level synchronization over time, reflecting important economic developments in history such as the global financial crisis, the adoption of euro, and the COVID-19 pandemic.
Author: Ben S. Bernanke Publisher: University of Chicago Press ISBN: 0226044734 Category : Business & Economics Languages : en Pages : 469
Book Description
Over the past fifteen years, a significant number of industrialized and middle-income countries have adopted inflation targeting as a framework for monetary policymaking. As the name suggests, in such inflation-targeting regimes, the central bank is responsible for achieving a publicly announced target for the inflation rate. While the objective of controlling inflation enjoys wide support among both academic experts and policymakers, and while the countries that have followed this model have generally experienced good macroeconomic outcomes, many important questions about inflation targeting remain. In Inflation Targeting, a distinguished group of contributors explores the many underexamined dimensions of inflation targeting—its potential, its successes, and its limitations—from both a theoretical and an empirical standpoint, and for both developed and emerging economies. The volume opens with a discussion of the optimal formulation of inflation-targeting policy and continues with a debate about the desirability of such a model for the United States. The concluding chapters discuss the special problems of inflation targeting in emerging markets, including the Czech Republic, Poland, and Hungary.
Author: R. Matousek Publisher: Springer ISBN: 0230302211 Category : Business & Economics Languages : en Pages : 299
Book Description
This book provides a deep insight into the market changes and policy challenges that transition economies have undergone in the last twenty years. It not only comments on and evaluates the development of financial markets in transition economies, but also highlights the key obstacles to full integration of financial markets into the EU market.
Author: Publisher: ISBN: Category : European Economic Community countries Languages : en Pages : 168
Book Description
The workshop discussed cross-country and quantitative analyses of the determinants of inflation in the NMS, focusing in particular on three broad questions: (i) to assess the relative importance of external versus domestic drivers of inflation; (i) to study the relative importance of catching-up and transition-related inflation; (iii) to examine the role of macroeconomic and structural policies in determining the dynamics of inflation in NMS.
Author: Salvatore Zecchini Publisher: Springer Science & Business Media ISBN: 940115368X Category : Business & Economics Languages : en Pages : 598
Book Description
An attentive reader embarking on this book might wonder what "the" economic transition to which the title refers might be. In this century almost all countries have gone through periods of economic transition; but which period of economic history can claim to embody the notion or to represent the era of "the" transition? Definitely, no country or group of countries has experienced anything comparable to the economic upheavals that the fall of communism has brought about in a large portion of the world in just three years (1989 to 1991). No other "transition" to date has prompted more interest and more studies among economists, academics and policy-makers than has the transformation of centrally planned economies into market-based systems. It is this transformation that has come to define "the" transition. Early in the transformation process (in November 1990), with the support of the Centre for Co-operation with the Economies in Transition (CCET), I launched a conference to examine the challenges faced by these countries. About six years have gone by and a new economic landscape has emerged in that part of the world. The difficulties in transforming these economies have exceeded all expectations, and economic performances have varied considerably across countries. The time has come, therefore, to make a first evaluation of progress and problems, with a view to extracting useful policy lessons to guide policy-makers in successfully completing the transition in the near future.
Author: Mr.Kenji Moriyama Publisher: International Monetary Fund ISBN: 1455297739 Category : Business & Economics Languages : en Pages : 27
Book Description
This paper investigates the degree of inflation inertia in Egypt and its determinants using the cross country data consisting of over 100 countries. Medium-unbiased estimator of inflation inertia in Egypt is high compared to other countries, as indicated by its location around the upper quartile among the sample. The cross country analysis indicates that counter-cyclical macroeconomic policy and fiscal consolidation are a key to reduce inflation inertia and the costs of disinflation.
Author: Felix Hammermann
Author: Felix Hammermann
Author: Mr. Serhan Cevik
Author: Ben S. Bernanke
Author: R. Matousek
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Author: 
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Author: Salvatore Zecchini
Author: Mr.Kenji Moriyama
Author: Paul de Grauwe