The Inflation Mechanism And Expectations
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The Inflation Mechanism And Expectations
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Author : Laya Li
language : en
Publisher: Springer
Release Date : 2024-07-09
The Inflation Mechanism And Expectations written by Laya Li and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-07-09 with Political Science categories.
This book reflects China's experience, model and theory of successful inflation control. The idea of Stabilization of Expectations emphasized by the Chinese government was primarily proposed in this book with systematic theoretical support. The theory framework initiated in this book has been about 10 years earlier than that of the European and American economists. The core theory of this work is Sticky Expectation Theory, which breaks through the framework of neoclassical economic theory, denies the fundamental preconditions of neoclassical economic theory to establish a new theoretical framework so as to understand people's economic behavior and explain the operating mechanism of economy. This book establishes the Chinese version of flexible inflation targeting system, policy transparency, policy rules, and expectation management as the means to prevent and manage inflation and macro-control. Readers will gain a better understanding of the research achievements of Chinese scholars in the field of inflation management as well as the theory of expectations. Readers can further understand the Chinese approach in tackling inflation issue and other macro-economic control measures proposed by this book.
Inflation Mechanisms Expectation And Monetary Policy
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Author :
language : en
Publisher:
Release Date : 2016
Inflation Mechanisms Expectation And Monetary Policy written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Inflation Expectations
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Author : Peter J. N. Sinclair
language : en
Publisher: Routledge
Release Date : 2009-12-16
Inflation Expectations written by Peter J. N. Sinclair and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-12-16 with Business & Economics categories.
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.
Monetary Policy
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Author : Norman Loayza
language : en
Publisher:
Release Date : 2002
Monetary Policy written by Norman Loayza and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Monetary policy categories.
Inflation News And Euro Area Inflation Expectations
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Author : Juan Angel Garcia
language : en
Publisher: International Monetary Fund
Release Date : 2018-07-19
Inflation News And Euro Area Inflation Expectations written by Juan Angel Garcia and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-19 with Business & Economics categories.
Do euro area inflation expectations remain well-anchored? This paper finds that the protracted period of low (and below-target) inflation in the euro area since 2013 has weakened their anchoring. Testing their sensitivity to inflation and macroeconomic news, this paper expands existing results in two key dimensions. First, by analyzing all available (advanced) inflation releases. Second, the reactions of expectations are investigated at daily, time-varying and intraday frequency regressions to add robustness to our conclusions. Results point to a significant impact of inflation news over recent years that had not been observed before in the euro area.
Capacity Constraints Inflation And The Transmission Mechanism
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Author : Mr.Peter B. Clark
language : en
Publisher: International Monetary Fund
Release Date : 1995-08
Capacity Constraints Inflation And The Transmission Mechanism written by Mr.Peter B. Clark and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-08 with Business & Economics categories.
This paper develops a small model of the output-inflation process in the United States in order to examine the implications of alternative monetary policy rules. In particular, two types of policy rules are considered; a myopic rule where interest rates respond contemporaneously to output and inflation and a forward-looking policy rule that exploits information about the nature of transmission mechanism in the setting of interest rates. The model has two key features. First, there are significant lags between interest rates and aggregate demand conditions. Second, the model is based on an asymmetric model of inflation where positive deviations of aggregate demand from potential are more inflationary than negative deviations are disinflationary. As a consequence of this asymmetry, a policymaker that follows a myopic policy rule and allows the economy to overheat periodically will be forced to impose large recessions on the economy to keep inflation under control. The paper shows that the estimated degree of asymmetry implies that myopic policies can result in significant permanent losses in output. By contrast, policymakers that follow a forward-looking policy rule that avoids overheating will not only reduce the variance of output but also raise the mean level of output.
Rational Expectations And Monetary Policy
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Author : J.J. Sijben
language : en
Publisher: Springer
Release Date : 1980-03-31
Rational Expectations And Monetary Policy written by J.J. Sijben and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980-03-31 with Business & Economics categories.
Expectations Anchoring And Inflation Persistence
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Author : Mr.Rudolfs Bems
language : en
Publisher: International Monetary Fund
Release Date : 2018-12-11
Expectations Anchoring And Inflation Persistence written by Mr.Rudolfs Bems and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-11 with Business & Economics categories.
Understanding the sources of inflation persistence is crucial for monetary policy. This paper provides an empirical assessment of the influence of inflation expectations' anchoring on the persistence of inflation. We construct a novel index of inflation expectations' anchoring using survey-based inflation forecasts for 45 economies starting in 1989. We then study the response of consumer prices to terms-of-trade shocks for countries with flexible exchange rates. We find that these shocks have a significant and persistent effect on consumer price inflation when expectations are poorly anchored. By contrast, inflation reacts by less and returns quickly to its pre-shock level when expectations are strongly anchored.
Rational Expectations And Inflation
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Author : Thomas J. Sargent
language : en
Publisher: New York : Harper & Row
Release Date : 1986
Rational Expectations And Inflation written by Thomas J. Sargent and has been published by New York : Harper & Row this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Business & Economics categories.
Inflation Forecast Targeting For India
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Author : Mr.Jaromir Benes
language : en
Publisher: International Monetary Fund
Release Date : 2017-03-03
Inflation Forecast Targeting For India written by Mr.Jaromir Benes and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-03 with Business & Economics categories.
India formally adopted flexible inflation targeting (FIT) in June 2016 to place price stability, defined in terms of a target CPI inflation, as the primary objective of monetary policy. In this context, the paper draws on Indian macroeconomic developments since 2000 and the experience of other countries that adopted FIT to bring out insights on how credible policy with an emphasis on a strong nominal anchor can reduce the impact of supply shocks and improve macroeconomic stability. For illustrating the key issues given the unique structural characteristics of India and the policy options under an FIT framework, the paper describes an analytical framework using the core quarterly projection model (QPM). Simulations of the QPM are carried out to illustrate the monetary policy responses under different types of uncertainty and to bring out the importance of gaining credibility for improving monetary policy efficacy.