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Nominal Interest Rate Pegging Under Alternative Expectations Hypotheses

Nominal Interest Rate Pegging Under Alternative Expectations Hypotheses »

Source: Nominal Interest Rate Pegging Under Alternative Expectations Hypotheses

Volume/Issue: 1988/94

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 October 1988

ISBN: 9781451950618

Keywords: nominal interest rate, equation, inflation, price level, equations

Nominal interest rate pegging leads to instability in an IS-LM model with a vertical long-run Phillips curve and backward-looking inflation expectations. However, it does not lead to instability in several large mu...

The Inverted Fisher Hypothesis

The Inverted Fisher Hypothesis »

Source: The Inverted Fisher Hypothesis : Inflation Forecastability and Asset Substitution"

Volume/Issue: 2000/194

Series: IMF Working Papers

Author(s): Woon Choi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2000

ISBN: 9781451859850

Keywords: Inverted Fisher hypothesis, asset substitution, inflation forecastability, switching regression, threshold effect, nominal interest rate, inflation process, high inflation, inflation rate

This paper examines the implications of inflation persistence for the inverted Fisher hypothesis that nominal interest rates do not adjust to inflation because of a high degree of substitutability between money and...

Deciding to Enter a Monetary Union

Deciding to Enter a Monetary Union »

Source: Deciding to Enter a Monetary Union : TheRole of Trade and Financial Linkages

Volume/Issue: 2012/240

Series: IMF Working Papers

Author(s): Ruy Lama , and Pau Rabanal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 October 2012

ISBN: 9781475511437

Keywords: Trade Costs, DSGE Model, Monetary Union, intermediate goods, elasticity of substitution, nominal interest rate, Monetary Union., Monetary Policy (Targets, Instruments, and Effects)

This paper evaluates the role of trade and financial linkages in the decision to enter a monetary union. We estimate a two-country DSGE model for the U.K. economy and the euro area, and use the model to compute the...

Nominal Interest Rate Pegging Under Alternative Expectations Hypotheses

Nominal Interest Rate Pegging Under Alternative Expectations Hypotheses »

Volume/Issue: 1988/94

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 October 1988

DOI: http://dx.doi.org/10.5089/9781451950618.001

ISBN: 9781451950618

Keywords: nominal interest rate, equation, inflation, price level, equations

Nominal interest rate pegging leads to instability in an IS-LM model with a vertical long-run Phillips curve and backward-looking inflation expectations. However, it does not lead to instability in several large mu...

The Inverted Fisher Hypothesis
			: Inflation Forecastability and Asset Substitution"

The Inverted Fisher Hypothesis : Inflation Forecastability and Asset Substitution" »

Volume/Issue: 2000/194

Series: IMF Working Papers

Author(s): Woon Choi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2000

DOI: http://dx.doi.org/10.5089/9781451859850.001

ISBN: 9781451859850

Keywords: Inverted Fisher hypothesis, asset substitution, inflation forecastability, switching regression, threshold effect, nominal interest rate, inflation process, high inflation, inflation rate

This paper examines the implications of inflation persistence for the inverted Fisher hypothesis that nominal interest rates do not adjust to inflation because of a high degree of substitutability between money and...

Deciding to Enter a Monetary Union
			: TheRole of Trade and Financial Linkages

Deciding to Enter a Monetary Union : TheRole of Trade and Financial Linkages »

Volume/Issue: 2012/240

Series: IMF Working Papers

Author(s): Ruy Lama , and Pau Rabanal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 02 October 2012

DOI: http://dx.doi.org/10.5089/9781475511437.001

ISBN: 9781475511437

Keywords: Trade Costs, DSGE Model, Monetary Union, intermediate goods, elasticity of substitution, nominal interest rate, Monetary Union., Monetary Policy (Targets, Instruments, and Effects)

This paper evaluates the role of trade and financial linkages in the decision to enter a monetary union. We estimate a two-country DSGE model for the U.K. economy and the euro area, and use the model to compute the...