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Displaying results 1 to 5 of 5.

  1. The New Keynesian model and sacrifice ratios: some measurement issues
    Author: Lunardelli, André; Nakane, Márcio Issao
    Published: [2019]
    Publisher:  FEA/USP, [São Paulo]

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 532
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper series / Department of Economics-FEA/USP ; no 2019, 18
    Subjects: Disinflation; sacrifice ratio; inflation persistence
    Scope: 1 Online-Ressource (circa 23 Seiten)
  2. How large is the output cost of disinflation?
    Author: Tetlow, Robert
    Published: November 9, 2022
    Publisher:  Divisions of Research & Statistics and Monetary Affairs, Federal Reserve Board, Washington, D.C.

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    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 412
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Finance and economics discussion series ; 2022, 079
    Subjects: monetary policy; disinflation; sacrifice ratio; expectations formation
    Scope: 1 Online-Ressource (circa 25 Seiten), Illustrationen
  3. The short-term costs of reducing trend inflation in South Africa
    Author: Loewald, Christopher; Makrelov, Konstantin; Pirozhkova, Ekaterina
    Published: 2 August 2022
    Publisher:  Economic Research and Statistics Department, South African Reserve Bank, Pretoria

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 655
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: South African Reserve Bank working paper series ; WP, 22, 08
    Subjects: sacrifice ratio; inflation; inflation targeting
    Scope: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  4. The cost of disinflation in a small open economy vis-à-vis a closed economy
    Author: Faryna, Oleksandr; Jónsson, Magnús; Shapovalenko, Nadiia
    Published: November 2021
    Publisher:  Sveriges Riksbank, Stockholm

    We use a standard new Keynesian model to evaluate the cost of disinflation - measured by the sacrifice ratio, the central bank's loss function, and the welfare cost - in a small open economy vis-à-vis a closed economy. Disinflation is either more... more

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 204
    Inter-library loan:
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    We use a standard new Keynesian model to evaluate the cost of disinflation - measured by the sacrifice ratio, the central bank's loss function, and the welfare cost - in a small open economy vis-à-vis a closed economy. Disinflation is either more costly or less beneficial in the small open economy, but the results vary quantitatively depending on the measure and the economic environment. Optimised simple monetary policy rules imply that the relative weight on inflation stabilisation should be lower in the small open economy if the central bank minimises the loss function, but higher if it maximises welfare.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/251305
    Series: Sveriges Riksbank working paper series ; 407
    Subjects: Disinflation; sacrifice ratio; central bank's loss function; welfare cost; small open economy; new Keynesian model; optimised rules; imperfect credibility
    Scope: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  5. Structural estimates of the South African sacrifice ratio
    Author: Gereziher, Hayelom Yrgaw; Nuru, Naser Yenus
    Published: January 2021
    Publisher:  United Nations University World Institute for Development Economics Research, Helsinki, Finland

    This paper estimates the output cost of fighting inflation-the sacrifice ratio-for the South African economy using quarterly data spanning the period 1998Q1-2019Q3. To compute the sacrifice ratio, the structural vector autoregressive model developed... more

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 248
    Inter-library loan:
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    This paper estimates the output cost of fighting inflation-the sacrifice ratio-for the South African economy using quarterly data spanning the period 1998Q1-2019Q3. To compute the sacrifice ratio, the structural vector autoregressive model developed by Cecchetti and Rich (2001) based on Cecchetti (1994) is employed. Our findings show us a small sacrifice ratio, which lies within the range 0.00002-0.231 per cent with an average of 0.031 per cent, indicating a low level of output to be sacrificed while fighting inflation. Hence, the reserve bank is recommended to sustain an inflation rate within the target range and reap the benefits of a predictable and stable price path, as restrictive monetary policy has only a transitory effect on real variables like output.

     
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    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9789292569464
    Other identifier:
    hdl: 10419/229413
    Series: WIDER working paper ; 2021, 12
    Subjects: inflation targeting; output; sacrifice ratio; South Africa; structural VAR model
    Scope: 1 Online-Ressource (circa 22 Seiten), Illustrationen