Exchange Values for Non-Monetary Interactions
Monetary policy and exchange rate interactions in a small open economy
... The dummy turns out to be significantly negative in the interest rate equation, implying that the interest rate should have been higher had the rule been followed over the whole period. Consistent with most other related ...
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Truthful and Non-Monetary Mechanism for Direct Data Exchange
... Texas A&M University {ihou, yupinhsu, spalex}@tamu.edu AbstractβIn recent years, direct data transfer between mo- bile devices has attracted significant interest from the research community. In this paper, we focus ...
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Interactions Between Monetary and Fiscal Policy under Flexible Exchange Rates
... their monetary authorities pursue an active monetary policy, m * = ...the monetary authorities pursue a passive monetary policy, m = β ...the monetary authorities in country 1 can ...
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Non-Linearity In Monetary Models Of Exchange Rate In Five Asean Countries
... 6 failed for the first time, leading to a decline in the value of British pound. More acutely, in the following year, the USD was also weakened relative to other currencies resulting from the increasing money supply ...
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Dynamic Monetary-Fiscal Interactions and the Role of Monetary Conservatism
... and monetary conservatism as de- terminants of the economyβs steady state and the associated welfare ...and non-aligned objective functions leads to higher steady state ...Importantly, monetary ...
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Monetary and Fiscal Interactions without Commitment and the Value of Monetary Conservatism
... committed monetary authority to implement higher and higher rates of inflation, so as to restrain fiscal ...committing monetary authority implements approximately the same rate of inflation as a sequential ...
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Macroeconomic Stabilization, Monetary-fiscal Interactions, and Europe's monetary Union
... 1 Introduction Standard macroeconomic models explain why fluctuations in aggregate economic activity can be excessive and suggest that appropriate stabilization policy can dampen the undesirable variability. The member ...
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Monetary Exchange with Multilateral Matching
... general, monetary policy that changes the number of money holders (and, hence, buyers) can have real ...The monetary exchange framework developed by Kiyotaki and Wright (1993), Trejos and Wright ...
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Indivisibilities, Lotteries, and Monetary Exchange
... a monetary economy, although in the model in that paper, without lotteries, the result does not actually hold very generally: it holds when = 1=2 in the model where T j = 0, but it may not hold for other ...
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Monetary-Fiscal Policy Interactions and Tests for Monetary Dominance in the West African Monetary Zone
... of monetary policy (Taylor rule) estimated for these WAMZ countries is specified as: π π‘ = πΌ 0 (π π‘ π ) + πΌ π (π π‘ π )π π‘ + πΌ π¦π (π π‘ π )π¦π π‘ + πΌ π π‘ (π π‘ π )π π‘β1 + π π (π π‘ π )π π‘ π 3 Where π π‘ is nominal ...
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Monetary and fiscal policy interactions in a New Keynesian model with capital accumulation and non-Ricardian consumers
... active monetary policy is consistent with non-fundamental fluctuations in activity, resulting from local indeterminacy of degree ...such non-fundamental fluctuations may be summarized as ...if ...
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Monetary and fiscal policy interactions in a New Keynesian model with capital accumulation and non-Ricardian consumers
... While monetary policy rules, typically spec- ified as interest rate rules with feedbacks to endogenous variables like inflation or output, have been analyzed in great analytical detail, there is no similarly rich ...
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Monetary and Fiscal Policy Interactions in a Monetary Union with Country-size Asymmetry
... that non-cooperation accentuates this activism while moderating that of a large ...under non-cooperation, but cooperation dominates for the larger ones; thus, the best outcome for the union (coopera- tion) ...
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Monetary and fiscal policies interactions in a monetary union with country-size asymmetry
... under non-cooperation; a moderated fiscal policy response to shocks, ...the monetary policy, have less incentives to use fiscal policy in- struments towards debt control and engage in fiscal policies that ...
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Monetary-Labor Interactions, International Monetary Regimes, and Central Bank Conservatism
... the monetary union regime hinges only on strategic interaction between wage setters and a single monetary authority without con- sidering the possibility for domestic unions of affecting the foreign labor ...
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Strategic Interactions in U.S. Monetary and Fiscal Policies *
... Small values for the remaining freely estimated weights are consistent with the Fed's anti-in ation ...for monetary policy where a beta distribution is used for its diagonal elements, Ο ii , with a prior ...
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Interactions between inflation, monetary and fiscal policy
... the monetary policy implemented in the post-reform regime (as captured by x L) and also on the monetary stance before the reform (as captured by a) and on some structural parameters of the economy governing ...
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Interactions of Commitment and Discretion in Monetary and Fiscal Policies
... # F Simulation Now we describe how we chose the parameter values for our benchmark economy; also, see the parametrization in Gali (2001). We assume Ξ² = 2, which implies a unit wage elasticity of labor supply. Ξ³ is ...
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Fiscal and Monetary Policy Interactions in New Zealand
... from non-accommodative to accommodative occurs in 2008 and lasts for roughly three ...the monetary authority changed its behavior towards running higher debt ...the monetary authority to accept ...
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Inflation conservatism and monetary-fiscal policy interactions
... of monetary-ο¬scal inter- actions with a conservative central bank and a benevolent ο¬scal ...a non-linear dynamic model similar to ours and ο¬nd that it can be ...
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