Описание: This book focuses on the exchange rate pass-through (ERPT), second round effects and the inflation process in South Africa. Fiscal policy via fuel levies, administered prices and public transport inflation channel impacts the responses of monetary policy to inflation shocks.
The Federal Reserve System, created in the early 20th century, is now more than a hundred years old. This book takes the reader through the founding and first century of Federal Reserve monetary policy, and uses the analysis of the past to address the present and future issues of central banking.
With its focus on the actual policies, rather than the politics or individuals that determined those policies, this book addresses issues that have plagued monetarists since the onset of the Great Recession. Then, it proceeds to discuss the issues that will affect the efficacy of policy in the future. This section of the book is relevant for all central banks as central bank behavior post the onset of the Great Recession was similar throughout the world.
The book presents an analysis of the path of inflation that puzzled the experts. It adds an analysis of central banking's ability or lack thereof to influence market interest rates. Lastly, it explains the current exploding crypto-currency craze, its potential to supplant traditional transactions media, and the future of these so-called currencies.
Описание: This book focuses on income inequality, output-inflation trade-off and economic policy uncertainty in South Africa. Tight monetary and macroprudential policies raise income inequality. Income inequality transmits monetary policy and macroprudential policy shocks to real economic activity. Economic policy uncertainty influences the dynamics in the lending rate margins, inflation expectations, credit, pass-through of the repo rate to bank lending rates and companies’ cash holdings. The trade-off between output and inflation and output growth persistence vary with inflation regimes. Stimulatory demand policy shocks are less effective in high inflation regime. High income inequality raises consumption inequality, which raises demand for credit, but price stability matters in this link. Increased bank concentration raises income inequality, lowers economic growth and employment rate. Elevated economic policy uncertainty lowers output growth, lowers capital formation, reduces credit and raises companies’ cash holdings. Increased companies’ cash holdings reduce capital formation and impact the transmission of expansionary monetary policy shocks to real economic activity. This book shows there is an inflation level within the target band below it which lowers income inequality, while raising GDP growth and employment. Thus price stability, economic policy uncertainty and income inequality matter for the efficient transmission of policy shocks.
Contrary to the Quantity Theory of Money, which in its various forms, implies that increases in output of goods and services will, ceteris paribus, exert downward pressure on the general price level, Dr. Nwankwo in this book, argues that the growth of some components of output could accentuate, rather than dampen inflation. This phenomenon, which the author has termed 'Disaggregation Dissonance Hypothesis', states that while some components of the GDP may be inversely related to the price level, other components may be positively related to the price level. In addition, interaction between sectors, measured for example with the ratio of non-agricultural output to agricultural output, could also affect the price level. In view of these observations, the author argues that the practice based on the Quantity Theory of using aggregate output as an explanatory variable for the price level is defective and inappropriate and that the use of aggregate output in an empirical study is of limited relevance because it obscures a lot of the underlying influences which are necessary for understanding the structure and dynamics of inflation. He contends that a more appropriate approach will be to use disaggregated components of the GDP, as well as sectoral interaction variables in order to bring out the different ways in which the different components of the GDP impact inflation.
The author supports his thesis with an econometric investigation, using Nigeria's data from 1960 to 2011, which shows that when the GDP is split into agricultural and non-agricultural components, the former impacts the price level inversely, while the latter impacts the price level positively.
Автор: Roy Green Название: Classical Theories of Money, Output and Inflation ISBN: 0333565622 ISBN-13(EAN): 9780333565629 Издательство: Springer Рейтинг: Цена: 23757.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book challenges the conventional view that monetarism is a necessary part of classical economics and shows, in an historical account of monetary controversy, that the framework upon which classical analysis is based suggests an alternative account of the inflationary process.
Автор: Roy Green Название: Classical Theories of Money, Output and Inflation ISBN: 1349223905 ISBN-13(EAN): 9781349223909 Издательство: Springer Рейтинг: Цена: 9362.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book challenges the conventional view that monetarism is a necessary part of classical economics and shows, in an historical account of monetary controversy, that the framework upon which classical analysis is based suggests an alternative account of the inflationary process.
Описание: Rising US income and wealth inequality results from repression of real wage growth and production realignments benefitting the top one percent of households. Middle class wage-earning households have been hurt. Wage repression has led to slow inflation and low interest rates that sparked capital gains for the top one percent.
Описание: Rising US income and wealth inequality results from repression of real wage growth and production realignments benefitting the top one percent of households. Middle class wage-earning households have been hurt. Wage repression has led to slow inflation and low interest rates that sparked capital gains for the top one percent.
Автор: Altig Название: Monetary Policy in Low-Inflation Economies ISBN: 1107514118 ISBN-13(EAN): 9781107514119 Издательство: Cambridge Academ Рейтинг: Цена: 5859.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: The essays in this volume investigate the challenges of transitioning to lower levels of inflation and conducting monetary policy in low-inflation economies. The essays make both theoretical and empirical contributions.
Автор: Assaf Razin; Hans-J?rgen Vosgerau Название: Trade and Tax Policy, Inflation and Exchange Rates ISBN: 3642645828 ISBN-13(EAN): 9783642645822 Издательство: Springer Рейтинг: Цена: 18167.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: With contributions by numerous experts
Автор: Eliphas Ndou; Nombulelo Gumata Название: Inflation Dynamics in South Africa ISBN: 3319467018 ISBN-13(EAN): 9783319467016 Издательство: Springer Рейтинг: Цена: 20962.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
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