Ojo, Marianne (2024): Inflationary impacts since the Global Pandemic Crisis: the potential of forecasting techniques and technologies. Published in: Journal of Economics Letters (June 2024)
Preview |
PDF
MPRA_paper_120515.pdf Download (394kB) | Preview |
Abstract
Important lessons which were drawn from the most recent GFC - notably, the growing need for accommodative policies (unconventional and conventional) to facilitate appropriate responses - given limited monetary policy spaces, the emergence, rise and evolution of private actors and their implications for monetary policies and financial stability.
Amongst other goals and objectives, this paper considers innovative possibilities - particularly those of distributed ledger technologies which constitute benefits which can be harnessed to enhance digital possibilities of the Fourth Industrial Revolution.
Item Type: | MPRA Paper |
---|---|
Original Title: | Inflationary impacts since the Global Pandemic Crisis: the potential of forecasting techniques and technologies |
Language: | English |
Keywords: | monetary policies; financial stability; innovative techniques; forecasting techniques ; accommodative policies |
Subjects: | E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E43 - Interest Rates: Determination, Term Structure, and Effects E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E47 - Forecasting and Simulation: Models and Applications E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies G - Financial Economics > G2 - Financial Institutions and Services M - Business Administration and Business Economics ; Marketing ; Accounting ; Personnel Economics > M2 - Business Economics > M21 - Business Economics O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O19 - International Linkages to Development ; Role of International Organizations |
Item ID: | 120515 |
Depositing User: | Dr Marianne Ojo |
Date Deposited: | 26 Mar 2024 14:46 |
Last Modified: | 26 Mar 2024 14:46 |
References: | Agénor, P-R, E Kharroubi, L Gambacorta, G Lombardo and L A Pereira da Silva (2017): “The international dimensions of macroprudential policies”, BIS Working Papers, no 643, June. Amiti, M and D Weinstein (2011): “Exports and financial shocks”, The Quarterly Journal of Economics, vol 126, no 4, pp 1841–77. Armantier, O., Kosar, G., Pomerantz,R., Skandalis, D., Smith, K., Topa, G., & Van der Klaauw, W. (2021). How economic crises affect inflation beliefs: Evidence from the Covid-19 pandemic. Journal of Economic Behavior & Organization, 189, 443-469.-Victor, V., Karakunnel, J. J., Loganathan, S., & Meyer, D. F. (2021). Avdjiev, S, L Gambacorta, L Goldberg and S Schiaffi (2017a). “The Shifting Drivers of Global Liquidity“, BIS Working Papers, no 644, June. Avdjiev, S, R McCauley and P McGuire (2012). “Rapid Credit Growth and International Credit: Challenges for Asia”, BIS Working Papers, no 377, April. Bank for International Settlements (2019). G7 Working Group on Stable Coins, Committee on Payments and Markets Infrastructures "Investigating the Impact of Global Stable Coins October 2019 BIS (2019). Bank of England, (2021). “Inflation Now and Then”, Remarks given by Jonathan Haskel, External Member of the Monetary Policy Committee, Bank of England, and Imperial College Business School, Imperial College, London Adam Smith Business School, University of Glasgow 23 November 2021 Borio, C., Drehmann, M., and Xia, D, “Predicting Recessions: Financial Cycle versus term spread” BIS Working Papers No 818 October 2019 Boivin, Jean, Michael T. Kiley, and Frederic S. Mishkin (2010). "How Has the Monetary Transmission Mechanism Evolved over Time?" in Benjamin M. Friedman and Michael Woodford, eds., Handbook of Monetary Economics, vol. 3. Amsterdam: Elsevier, pp. 369–422 Bullard, James (2018). "The Case of the Disappearing Phillips Curve," Speech delivered at the 2018 ECB Forum on Central Banking, Sintra, Portugal, June 19 Beau, D. (2019)."The Role of Cryptoassets in the Payment System " First deputy governor of the Bank of France at the Official Monetary and Financial Institutions Forum (OMFIF) Meeting, London, 15 October 2019 Bloomberg (2019). “Britain's Inverted Yield Curve Is Nothing Like America's” 15 August 2019 https://www.bloomberg.com/opinion/articles/2019-08-16/britain-s-yield-curve-is-nothing-likeamerica-s?srnd=premium-europe Bloomberg (2019). “U.K.’s Johnson to Double Down on Brexit in Germany, France Trip” https://www.bloomberg.com/news/articles/2019-08-17/u-k-s-johnson-to-double-down-on-brexitin-germany-france-trip?srnd=premium-europe Brainard, L.(2019) ."Digital Currencies, Stable Coins, and the Evolving Payments Landscape " Remarks at the Future of Money in the Digital Age, Sponsored by the Peterson Institute for International Economics and Princeton University's Bendheim Center for Finance,Washington D.C October 16 2019 CGFS-FSB, (2017). “FinTech credit: Market structure, business models and financial stability implications”, May 2017. Committee on the Global Financial System, “Unconventional Monetary Policy Tools: A Cross Country Analysis” CGFS Papers No 63 October 2019, Bank for International Settlements Centre for Economic Policy Research (2022). “Rising Inflation is Worrisome: But Not for the Reasons You Think” D’Acunto, F. and Weber, M., January 4 2022 Coroneo, L. and S Pastorello (2017). “European Spreads at the Interest Rate Lower Bound” unpublished manuscript CPMI, (2017). “Distributed ledger technology in payment, clearing and settlement – an analytical framework”, February 2017. Federal Reserve (2024). “Federal Reserve Board and Federal Open Market Committee Release Economic Projections from the March 19-20 FOMC Meeting” Accessed via https://www.federalreserve.gov/newsevents/pressreleases/monetary20240320b.htm Federal Reserve (2024). “Federal Reserve Issues FOMC Statement” Federal Reserve Bank of San Francisco, (2022). “This Time is Different Because We Are” Remarks by Mary C Daly, President of the Federal Reserve Bank of San Francisco, Los Angeles, CA, February 23, 2022 Fendel, R., N Mai, and O Mohr (2018). “Recession probabilities for the Eurozone at the Zero Lower Bound”, WHU Working Paper Series in Economics, no 18/04 Financial Stability Board (2019). "FSB Sets Out Work to Consider Regulatory Issues of Stable Coins" 18th October 2019 https://www.FSB.org/2019/ 10/fsb-sets-out-work-to-considerregulatory-issues-of-stable-coins/ Financial Stability Board (2018). “ Crypto Asset Markets: Potential Channels for Future Stability Implications, October 2018 Financial Times (2024). “U.K. Inflation Hits Lowest Rate Since 2021 at 3.4%” 20th April 2024. Accessed at https://www.ft.com/content/9f31261e-7d10-4963-b652-9b96822822bd Financial Times (2023). “Breaking Stormont Impasse Requires Action by London, DUP warns” April 18th 2023 Financial Times (2023). “EU Will Miss its Green Hydrogen Targets, Executives Say” May 11 2023 Financial Times (2023). “ Steelmakers Explore Hydrogen to Power Energy Hungry Processes” July 15 2022 Financial Times (2023). “US and EU Launch New talks on Critical Minerals Trade in Green Tech Race” March 11 2023 Financial Times (2022). “Green Hydrogen Will be Price Competitive by 2030” July 15 2022 Forbes, K, D Reinhardt and T Wieladek (2016): “The spillovers, interactions, and (un)intended consequences of monetary and regulatory policies”, Journal of Monetary Economics, vol 85, pp 1–22. Goodfriend M and M King (2015).“The Evolution of Monetary Policy: “Review of the Riksbank’s Monetary Policy 2010-2015” at page 21 ISSN 1653-0942 978-91-87541-39-1 Riksdagstryckeriet, Stockholm, 2015 Hofmann, B, I Shim and H S Shin (2016): “Sovereign yields and the risk-taking channel of currency appreciation”, BIS Working Papers, no 538, revised May 2017. Korstanje, M. E., & George, B. (2021). “From a recession to the COVID-19 pandemic: Inflation–Unemployment Comparison between the UK and India”. Economies, 9(2), 73. Mobility and globalization in the aftermath of COVID-19: Emerging new geographies in a locked world. Basingstoke: Palgrave Macmillan. Markets Committee, MC Compendium “Monetary Policy Frameworks and Central Bank Market Operations” October 2019, Bank for International Settlements Markets Committee, “Large Central Bank Balance Sheets and Market Functioning” Report Prepared by Study Group Chaired by Lorie Logan (Fed Reserve Bank of New York) and Ulrich Bindsell (ECB), October 2019, Bank for International Settlements Publications New York Times (2019). Economic Trouble Signs Hang Over Trump’s Trade War August 15 https://www.nytimes.com/2019/08/13/business/economy/donald-trump-jobsc Quarles, R. K. (2019). ” The Financial Stability Board at 10 years : Looking Back and Looking Ahead”, Building a Positive Future for Europe, Vice Chair of the Board of Governors of the Federal Reserve System, 3 October 2019, Brussels Rehn, O. (2019). "On Conventional and Unconventional Monetary Policies" http://www.bis.org/review/ r191011b.htm Shin, S. H ( 2015). “Exchange rates and the transmission of global liquidity”, speech at the Bank of Korea– IMF conference on Leverage in Asia: lessons from the past, what’s new now, and where to watch out for, Seoul, 11 December 9999 Soederberg (2019). "The e krone now and in the future " Economic Commentaries No 8 Sveriges Riksbank Svensson, Lars E.O. (2017). "Cost-benefit analysis of leaning against the wind " Journal of Monetary Economics 90, pp 193-213 Sveriges Riksbank (2017). "The Riksbank's e-krona project", Report 1 Sept 2017 Sveriges Riksbank (2018a). "Account of Monetary Policy 2018", Sveriges Riksbank Sveriges Riksbank (2018b), The Riksbank's e-krona project ", Report 2, Oct 2018 Sveriges Riksdag (2018). "Evaluation of monetary policy for the period 2016-22018, Committee on Finance Report 2018/ 19: FiU24 Randal K Quarles, (2019). ” The Financial Stability Board at 10 years : Looking Back and Looking Ahead”, Building a Positive Future for Europe, Vice Chair of the Board of Governors of the Federal Reserve System, 3 October 2019, Brussels Rachel, Lukasz, and Thomas D. Smith (2017)."Are Low Real Interest Rates Here to Stay?" (PDF) International Journal of Central Banking, vol. 13 (September), pp. 1–42 RUSI (2019). “Data Analytics and Algorithmic Bias in Policing” The Royal United Services Institute (RUSI) Report 16 September 2019 Restoy, F.(2019). “What is Going On, and Where Are the Challenges?” Chairman, Financial Stability Institute, Bank for International Settlements, Washington DC, 16 October 2019 Rosengren, Eric S. (2015). "Changing Economic Relationships: Implications for monetary policy and simple monetary policy rules " Speech on 16 April, Federal Reserve Bank of Boston WSJ, (2019). “ECB Follows Fed in Signaling Fresh Stimulus” https://www.wsj.com/articles/ecb-officials-signal-intention-to-launch-fresh-stimulus11562847288?mod=itp_wsj&mod=&mod=djemITP_h www.wsj.com/articles/ecb-to-launch-new-stimulus-measures-11551963228?mod=article_inline The Economist (2019). “Masters of the Universe: The Rise of Financial Machines” https://www.economist.com/leaders/2019/10/03/the-rise-of-the-financial-machines WSJ, (2019). “ECB Signals Possible Rate Cut Prompting Trump Tweets” https://www.wsj.com/articles/ecb-signals-possible-rate-cut-bond-buying-extension11560849634?mod=article_inline WSJ (2019). “Computers Can Now Bluff Like a Poker Champ Better Actually” https://www.wsj.com/articles/computers-can-now-bluff-like-a-poker-champ-better-actually11562873541?mod=cxrecs_join#cxrecs_s WSJ, (2019). “Fed’s Powell Says Facebook’s Libra Raises “Serious Concerns” https://city.wsj.com/articles/2f104ab0-3105-4111-94fe-7498cd6f4694 WSJ (2019). “Computers Can Now Bluff Like a Poker Champ Better Actually” https://www.wsj.com/articles/computers-can-now-bluff-like-a-poker-champ-better-actually11562873541?mod=cxrecs_join#cxrecs_s White House.Gov (2023). “Building a Clean Energy Economy: A Guidebook to the Inflation Reduction Act’s Investments in Clean Energy and Climate Action” January 2023 version 2 Yellen, Janet (2015)."Inflation Dynamics and Monetary Policy," speech delivered at the Philip Gamble Memorial Lecture, University of Massachusetts, Amherst, September 24 |
URI: | https://mpra.ub.uni-muenchen.de/id/eprint/120515 |