Download or read book Estimating The Inflation Growth Nexus A Smooth Transition Model written by Mr.Raphael A. Espinoza and published by International Monetary Fund. This book was released on 2010-03-01 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Motivated by the global inflation episode of 2007-08 and concern that high levels of inflation could undermine growth, this paper uses a panel of 165 countries and data for 1960-2007 to revisit the nexus between inflation and growth. We use a smooth transition model to investigate the speed at which inflation beyond a threshold becomes harmful to growth, an important consideration in the policy response to rising inflation as the world economy recovers. We estimate that for all country groups (except for advanced countries) inflation above a threshold of about 10 percent quickly becomes harmful to growth, suggesting the need for a prompt policy response to inflation at or above the relevant threshold. For the advanced economies, the threshold is much lower. For oil exporting countries, the estimates are less robust, possibly reflecting heterogeneity among oil producers, but the effect of higher inflation for oil producers is found to be stronger.
Download or read book Threshold effects of inflation on economic growth in selected African regional economic communities Evidence from a dynamic panel threshold modeling written by Arcade Ndoricimpa and published by Litres. This book was released on 2022-01-29 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this study is to estimate inflation threshold and examine its impact on the inflation-growth nexus in selected African regional economic communities. While a number of empirical studies exist in this area for developing countries, they bundle up countries from Asia, Africa and Latin America which do not have the same inflation experiences. This study therefore focuses on Africa. However, since African regional groupings themselves have different inflation experiences, non-linearity in the relationship between inflation and growth is explored within each grouping separately. The study uses dynamic panel threshold modeling recently suggested by Kremer et al. (2013) which extends the non-dynamic panel threshold model of Hansen (1999) and the cross-sectional threshold model of Caner and Hansen (2004). The results indicate that the estimated inflation threshold is different across the regional economic communities. Nonlinearity in inflation-growth nexus seems to hold in CEMAC, COMESA and SADC while it is questioned in WAEMU and WAMZ. For CEMAC, COMESA and SADC, the findings indicate that inflation above the threshold is harmful to growth. Some correlations are established in this study but further analysis is needed to suggest a policy.
Download or read book Econometrics for Financial Applications written by Ly H. Anh and published by Springer. This book was released on 2017-12-18 with total page 1081 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses both theoretical developments in and practical applications of econometric techniques to finance-related problems. It includes selected edited outcomes of the International Econometric Conference of Vietnam (ECONVN2018), held at Banking University, Ho Chi Minh City, Vietnam on January 15-16, 2018. Econometrics is a branch of economics that uses mathematical (especially statistical) methods to analyze economic systems, to forecast economic and financial dynamics, and to develop strategies for achieving desirable economic performance. An extremely important part of economics is finances: a financial crisis can bring the whole economy to a standstill and, vice versa, a smart financial policy can dramatically boost economic development. It is therefore crucial to be able to apply mathematical techniques of econometrics to financial problems. Such applications are a growing field, with many interesting results – and an even larger number of challenges and open problems.
Download or read book Inflation Targeting and Central Banks written by Joanna Niedźwiedzińska and published by Routledge. This book was released on 2021-07-28 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last three decades, inflation targeting (IT) has become the most popular monetary policy framework among larger economies. At the same time, its constituting features leave room for different interpretations, translating into various central banks’ institutional set-ups. Against this backdrop, this book investigates the importance of institutional arrangements for policy outcomes. In particular, the book answers the question of whether there are significant differences in IT central banks’ institutional set-ups, and—if yes—whether they influence the ability of monetary authorities to meet their policy goals. The book examines around 70 aspects related to independence, accountability and transparency of 42 IT central banks over the last 30 years. Based on the analysis, it can be concluded that the quality of the institutional set-ups materially affects monetary policy effectiveness. In fact, a visible improvement of institutional arrangements resulting from pursuing an inflation targeting strategy can be treated as its lasting contribution to central banking. Thus, despite the recent critique of the framework, its prospects continue to be rather favourable. Overall, for the advocates of inflation targeting, the findings of the book can be seen as identifying the sources of IT strengths, while for IT opponents, they may be viewed as indicating which elements of IT institutional set-ups should be kept even if the need to replace this strategy with another regime will, indeed, result in a change. Given the role monetary policy plays within the economy, such knowledge may have significant implications. Therefore, the book will be relevant for different audiences, including scholars and researchers of monetary economics and monetary policy, and will be essential reading for central banks already pursuing an IT strategy or those preparing to adopt one. Importantly, the book includes supplementary indices of proposed institutional arrangements that assess a range of aspects related to IT central bank’s independence, accountability, and transparency. Readers thus have access to the author’s full database, which covers individual indices for all monetary authorities investigated across the given period of analysis.
Download or read book Economic Transformation and Job Creation written by The Integrationist and published by Trafford Publishing. This book was released on 2013-04 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: The question of economic transformation is an immediate and practical one for the English-speaking Caribbean. In the postindependence period, Caribbean governments seemed blissfully unaware that the inability to transform their economies was leading to serious unemployment problems. The statistics are quite stark. Unemployment rates in the Caribbean range from 6% in the more prosperous states to 23% in the less prosperous ones. This use of economic transformation and job creation continues to be a major challenge in the first decade of the twenty-first Century. This is the subject that is treated with impressive urgency in this volume entitled Economic Transformation and Job Creation: The Caribbean Experience.
Download or read book Economic Transformation and Job Creation written by Kenneth O. Hall and published by Trafford Publishing. This book was released on 2013-08-12 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: The question of economic transformation is an immediate and practical one for the English-speaking Caribbean. In the postindependence period, Caribbean governments seemed blissfully unaware that the inability to transform their economies was leading to serious unemployment problems. The statistics are quite stark. Unemployment rates in the Caribbean range from 6% in the more prosperous states to 23% in the less prosperous ones. This use of economic transformation and job creation continues to be a major challenge in the first decade of the twenty-first Century. This is the subject that is treated with impressive urgency in this volume entitled Economic Transformation and Job Creation: The Caribbean Experience.
Download or read book OECD Economic Surveys Sweden 2011 written by OECD and published by OECD Publishing. This book was released on 2011-01-20 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2011 edition of OECD's periodic survey of the Swedish economy includes chapters covering consolidating the recovery, monetary policy and the financial system, limiting long-term unemployment and non-participation, and enhancing the ...
Download or read book Inflation Dynamics in South Africa written by Eliphas Ndou and published by Springer. This book was released on 2017-02-21 with total page 525 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a comprehensive empirical analysis of South African inflation dynamics, using a variety of techniques including counterfactual analysis. The authors elaborate the roles in inflation of thresholds, nonlinearities and asymmetries introduced by economic conditions such as the size of exchange rate changes and volatility, GDP growth, inflation, output gap, credit growth, sovereign spreads and fiscal policy, providing new policy evidence on the impact of these. Ndou and Gumata apply techniques to determine the prevalence of updating inflation expectations, and reconsider the propagation effects of a number of inflation risk factors. Asking to what extent the evidence points to a need to enforce price stability and the anchoring of inflation expectation, the book fills existing gaps in South African Policy, and maintains a clear argument that price stability is consistent with the 3 to 6 per cent inflation target range, and that threshold application should form an important aspect of policy analysis in periods of macroeconomic uncertainty. As such, the book serves as an excellent reference text for academic and policy discussions alike.
Download or read book Building Integrated Economies in West Africa written by Mr.Alexei Kireyev and published by International Monetary Fund. This book was released on 2016-04-13 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: The West African Economic and Monetary Union (WAEMU) has a long and varied history, and this book examines how the WAEMU can achieve its development and stability objectives, improve the livelihood of its people, and enhance the inclusiveness of its economic growth, all while preserving its financial stability, enhancing its competitiveness, and maintaining its current fixed exchange rates.
Download or read book Risk and the Rupee in Pakistan s New Economy written by Antonia Settle and published by Cambridge University Press. This book was released on 2020-10-29 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a world of open markets and global trade, development thinking seeks stability and prosperity for the world's poor by expanding access to financial products. This book challenges the development sector's embrace of 'financial inclusion' by exploring how the new risks and instabilities that accompany the pivot towards the global economy undermining the functioning of money itself. Cast against fundamental change in the monetary environment accompanying the globalisation of markets, the book examines the rapid liberalisation of money and markets in Pakistan. It argues that liberalisation has generated substantive problems not only for the central bank as guardian of national currency, but for ordinary households. By pinpointing how globalisation generates new risks for households in the everyday economy, the book reveals jarring contradictions between free markets and financial inclusion whilst challenging money theory by positing substantive and empirically-grounded monetary contestation that demonstrates a burden of risk imposed on ordinary people, that is only exacerbated by financial inclusion.
Download or read book Maximum Government Maximum Governance written by Sashi Sivramkrishna and published by Routledge. This book was released on 2019-02-08 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: Austerity, fiscal consolidation, fiscal discipline and fiscal deficit targets have become the buzzwords of contemporary macroeconomic policy. By tracing the history of macroeconomic schools of thought, Maximum Government, Maximum Governance explores the origins, essence, shortcomings and deception of mainstream neoliberal macroeconomics. Arguing that economies are financially constrained, neoliberal macroeconomics dislodged full employment as the target of policy replacing it with a low and stable inflation target. Monetary policy under the control of an independent central bank became the primary instrument to assist free and globalized markets to propel economies towards full employment. However, the global financial crisis of 2008 and rising inequalities of income and wealth in the last decade within and across economies has led to rise of nationalist-populist leaders in many parts of the world. Although neoliberal economics has been put under the scanner by these leaders, their actions seem reactionary and without a coherent understanding of alternative schools of economic thought. An alternative based on sound economic reasoning and institutional realities is required to challenge neoliberal and arbitrary populist policies. Based on an introductory analysis of Modern Money Theory (MMT), this book seeks to present an alternative viewpoint on macroeconomics and macroeconomic policy to address the challenges of economic growth, unemployment and inequality. While adherents of MMT are convinced of its robustness, the challenge is to reframe macroeconomic discourse, which must essentially reject the notion that an economy is financially constrained and instead turn the spotlight on real resource and governance constraints. Please note: Taylor & Francis does not sell or distribute the Hardback in India, Pakistan, Nepal, Bhutan, Bangladesh and Sri Lanka
Download or read book Issues in General Economic Research and Application 2013 Edition written by and published by ScholarlyEditions. This book was released on 2013-05-01 with total page 1193 pages. Available in PDF, EPUB and Kindle. Book excerpt: Issues in General Economic Research and Application: 2013 Edition is a ScholarlyEditions™ book that delivers timely, authoritative, and comprehensive information about Theoretical Economics. The editors have built Issues in General Economic Research and Application: 2013 Edition on the vast information databases of ScholarlyNews.™ You can expect the information about Theoretical Economics in this book to be deeper than what you can access anywhere else, as well as consistently reliable, authoritative, informed, and relevant. The content of Issues in General Economic Research and Application: 2013 Edition has been produced by the world’s leading scientists, engineers, analysts, research institutions, and companies. All of the content is from peer-reviewed sources, and all of it is written, assembled, and edited by the editors at ScholarlyEditions™ and available exclusively from us. You now have a source you can cite with authority, confidence, and credibility. More information is available at http://www.ScholarlyEditions.com/.
Download or read book Inflation and Growth written by Stephanie Kremer and published by . This book was released on 2010 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Inflation Dynamics and Monetary Policy Transmission in Vietnam and Emerging Asia written by Ms.Rina Bhattacharya and published by International Monetary Fund. This book was released on 2013-07-03 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an overview of inflation developments in Vietnam in the years following the doi moi reforms, and uses empirical analysis to answer two key questions: (i) what are the key drivers of inflation in Vietnam, and what role does monetary policy play? and (ii) why has inflation in Vietnam been persistently higher than in most other emerging market economies in the region? It focuses on understanding the monetary policy transmission mechanism in Vietnam, and in understanding the extent to which monetary policy can explain why inflation in Vietnam has been higher than in other Asian emerging markets over the past decade.
Download or read book This Time They Are Different written by Mr.Markus Eberhardt and published by International Monetary Fund. This book was released on 2013-12-17 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the long-run relationship between public debt and growth in a large panel of countries. Our analysis takes particular note of theoretical arguments and data considerations in modeling the debt-growth relationship as heterogeneous across countries. We investigate the issue of nonlinearities (debt thresholds) in both the cross-country and within-country dimensions, employing novel methods and diagnostics from the time-series literature adapted for use in the panel. We find some support for a nonlinear relationship between debt and long-run growth across countries, but no evidence for common debt thresholds within countries over time.
Download or read book Fiscal Policy and Long Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Download or read book Journal of Policy Modeling written by Society for Policy Modeling and published by . This book was released on with total page 1248 pages. Available in PDF, EPUB and Kindle. Book excerpt:
