Journal of Economic Studies: Volume 29 Issue 3

On the performance and practicality of nominal GDP targeting in Germany

Ilker Domac, Magda Kandil

This paper examines the performance of nominal income targeting as a possible direction for monetary policy. The existing literature consists of historical counterfactual…

Local responses to a global monetary policy: The regional structure of financial systems

Juan J. de Lucio, Mario Izquierdo

This paper contrasts the different regional effects of an homogeneous monetary policy, and studies the local characteristics that underlie these differential responses. To this…

Estimation of Taiwan’s binary monetary policy reaction function

Ho‐Chuan (River) Huang, Chung‐Hua Shen

This paper proposes a probit regression with autocorrelated errors (PAR) to estimate the reaction function of monetary policy in Taiwan using newly constructed binary monetary…

Inflation, government expenditure and real income in the long‐run

Girijasankar Mallik, Anis Chowdhury

This paper examines the relationship between inflation and real income in Australia, Canada, Finland, New Zealand, Spain, Sweden and the UK which have adopted a “formal” policy of…