If actual unemployment affects the NAIRU through a hysterisis effect, the disinflation involved i... more If actual unemployment affects the NAIRU through a hysterisis effect, the disinflation involved in reducing a country's inflation rate to that of its future partners in a monetary union could produce a long term cost to monetary union in the form of a lasting rise in the NAIRU. This note sets out a framework for analysing the likelihood of such an eventuality.
... or informal (discretionary), strict or flexible. But it could also choose to pursue an exchan... more ... or informal (discretionary), strict or flexible. But it could also choose to pursue an exchange rate target, using interest rates as well as foreign exchange market interventions. ... account of assetprices) and the efficiency of the private sector institutions and markets. ...
Discussion Paper Series Department of Economics, Feb 15, 2005
Abstract This paper uses the net sources of finance methodology to analyse recent trends in the i... more Abstract This paper uses the net sources of finance methodology to analyse recent trends in the investment financing of Japanese firms. It updates the work of Corbett and Jenkinson (1997), according to whom Japan remained a 'bank-based'or 'balanced external finance' ...
If actual unemployment affects the NAIRU through a hysterisis effect, the disinflation involved i... more If actual unemployment affects the NAIRU through a hysterisis effect, the disinflation involved in reducing a country's inflation rate to that of its future partners in a monetary union could produce a long term cost to monetary union in the form of a lasting rise in the NAIRU. This note sets out a framework for analysing the likelihood of such an eventuality.
... or informal (discretionary), strict or flexible. But it could also choose to pursue an exchan... more ... or informal (discretionary), strict or flexible. But it could also choose to pursue an exchange rate target, using interest rates as well as foreign exchange market interventions. ... account of assetprices) and the efficiency of the private sector institutions and markets. ...
Discussion Paper Series Department of Economics, Feb 15, 2005
Abstract This paper uses the net sources of finance methodology to analyse recent trends in the i... more Abstract This paper uses the net sources of finance methodology to analyse recent trends in the investment financing of Japanese firms. It updates the work of Corbett and Jenkinson (1997), according to whom Japan remained a 'bank-based'or 'balanced external finance' ...
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