The price puzzle in emerging markets : evidence from the turkish economy using model based risk premium derived from domestic fundamentalsThe recent studies by Blanchard (2004) and Favero and Giavazzi (2004) imply that a tight monetary policy consistent with an inflation-targeting framework in emerging market economies could actually increase the price level due to the lack of fiscal discipline...
Coordination between monetary policy and fiscal policy for an inflation targeting emerging marketSeveral studies including Blanchard (2004) and Favero and Giavazzi (2004) imply that in emerging market economies, a tight monetary policy within an inflation-targeting framework could actually increase the price level due to the lack of fiscal discipline and the associated high risk premium....
Guillermo caporale monetary policy and the exchange rate during the asian crisis: identification through heteroscedasticy monetary policy and the exchange rate during the asian crisis: identification through heteroscedasticityThis paper evaluates whether a tight monetary policy (i.e.,...
The fiscal effects of monetary policy... It further outlines, using this framework, the various channels of influence that tight monetary policy may have on the budget deficit....
