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| Registros recuperados: 10 | |
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| Caballero, Ricardo J.; Engel, Eduardo M.R.A.. |
| In most instances, the dynamic response of monetary and other policies to shocks is infrequent and lumpy. The same holds for the microeconomic response of some of the most important economic variables, such as investment, labor demand, and prices. We show that the standard practice of estimating the speed of adjustment of such variables with partial-adjustment ARMA procedures substantially overestimates this speed. For example, for the target federal funds rate, we find that the actual response to shocks is less than half as fast as the estimated response. For investment, labor demand and prices, the speed of adjustment inferred from aggregates of a small number of agents is likely to be close to instantaneous. While aggregating across microeconomic units... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Speed of adjustment; Discrete adjustment; Lumpy adjustment; Aggregation; Calvo model; ARMA process; Partial adjustment; Expected response time; Monetary policy; Investment; Labor demand; Sticky prices; Idiosyncratic shocks; Impulse response function; Wold representation; Time-to-build; Financial Economics; C22; C43; D2; E2; E5. |
| Ano: 2003 |
URL: http://purl.umn.edu/28419 |
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| Domestic agricultural policy and trade policy are closely linked. Thus, research, including long-term forecasting activities, must take into account the domestic as well as international implications of trade policy issues. The seventh meeting of the Consortium on Trade Research on June 23-24, 1983, in Ottawa, Ontario, Canada, focused on the problems facing international agricultural trade in the eighties; current research efforts at the U.S. Department of Agriculture, Agriculture Canada, and the Organisation for Economic Co-operation and Development (OECD) Secretariat; and the status, problems, and applications of long-term forecasting models. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Trade policy; Trade modeling; Long-term forecasting; Monetary policy; Exchange rates; Agricultural and Food Policy; International Relations/Trade. |
| Ano: 1983 |
URL: http://purl.umn.edu/51440 |
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| Farkas-Fekete, Maria; Sagi, Judit. |
| By this study we follow the discussion initiated by prof. Magda in his article “Exchange rate policy and the agriculture”, also reflecting to Lakner-Podrudzsik “Does the depreciation of the forint mean a medicine or a placebo?” We argue that the real effective exchange rate – in case of small and open economies, especially in the medium term – basically determines the competitiveness of the economy as a whole, and the agriculture, as a part. In this paper we analyse the effects of the forint exchange rate divergence from the equilibrium exchange rate and its volatility, in relation to the specifications of the agricultural sector with possibilities to accommodate. In this sense we correspond to prof. Csáki, saying that recent appreciation of the forint... |
| Tipo: Journal Article |
Palavras-chave: Monetary policy; Foreign exchange rate; Parity - monetaáris politika; Árfolyam; Paritás; Agricultural Finance; Political Economy. |
| Ano: 2005 |
URL: http://purl.umn.edu/54339 |
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| Awokuse, Titus O.. |
| Existing empirical evidence on the impact of macroeconomic variables on agriculture remains mixed and inconclusive. This paper re-examines the dynamic relationship between monetary policy variables and agricultural prices using alternative vector autoregression (VAR) type model specifications. Directed acyclic graph theory is proposed as an alternative modeling approach to supplement existing modeling methods. Similar to results in other studies, this studys findings show that over the time period analyzed (19752000), changes to money supply as a monetary policy tool had little or no impact on agricultural prices. The primary macroeconomic policy instrument that affects agricultural prices is the exchange rate, which is shown to be directly linked to... |
| Tipo: Journal Article |
Palavras-chave: Agricultural prices; Cointegration; Directed acyclic graphs; Monetary policy; VAR; Agricultural and Food Policy; Demand and Price Analysis. |
| Ano: 2005 |
URL: http://purl.umn.edu/10239 |
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| Singh, Kanhaiya; Kalirajan, Kaliappa P.. |
| In the first part of this paper, the policy reaction functions of the Reserve Bank of India (RBI) have been modeled to see how policy stance decisions respond to the changes in the goal variables. In the second part, the transmission effects of RBI’s policy stances on the goal variables have been analyzed using the Granger causality test, and analysis of simple estimated models of relevant variables. It may be suggested from the results that the RBI should not be working simultaneously with instruments of quantity and price control and should shelve the cash reserve ratio (CRR) and concentrate more on price variables for conducting monetary policy. |
| Tipo: Journal Article |
Palavras-chave: Monetary policy; Granger block non-causality; India; Financial Economics; C2; E4; E5. |
| Ano: 2006 |
URL: http://purl.umn.edu/50149 |
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| Choudhry, Taufiq. |
| This paper investigates the monetary interdependence and the money-income relationship between countries under a pegged and a floating exchange rate system during the same time period (1979-1997). The relationship is tested between three ERM countries, France, Germany and Holland, and also between these countries and the United States. The ERM countries have a pegged exchange rate between themselves, and the rate between these countries and the United States is freely floating. The empirical tests are conducted by means of the Johansen multivariate cointegration method and the error correction model. Among the ERM countries, international transmission of monetary policy is found in almost all directions. This may provide evidence against the theory of... |
| Tipo: Journal Article |
Palavras-chave: Monetary policy; Cointegration; Error correction; Speed of adjustment; Exchange rate; Public Economics; E50; E52. |
| Ano: 2002 |
URL: http://purl.umn.edu/44428 |
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| Registros recuperados: 10 | |
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