Implementation of monetary overhang/shortfall measure for indication of inflation risks (the approach of the European Central Bank)
Bibliographic Data
| ID | 7973438 |
|---|---|
| Authors | Josef Arlt (0000-0001-8349-7419), Milan Guba, Štěpán Radkovský |
| Year | 2004 |
| Volume | 52 |
| Issue | 2 |
| Publication date | 2004-04-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Politická ekonomie (JOURNAL) |
| Journal identifiers | ISSN: 0032-3233 • E-ISSN: 2336-8225 |
| Publisher | Prague University of Economics and Business (PUBLISHER • CZ) |
| DOI | 10.18267/j.polek.456 |
| OpenAlex | W2319787999 |
| Language | EN |
| Citations received | 2 |
The ECB concept of analysis of deviation of actual money stock development from its long run equilibrium development is based on the assumption that bigger deviation signalizes risks for the price stability. The ECB considers three measures of this deviation: nominal money gap, real money gap and monetary overhang/shortfall. The calculation of gap between the actual and the equilibrium development of money stock in nominal and real expression is not reasonable at the present time in Czech Republic. The calculation of monetary overhang/shortfall, which is based on the long run equilibrium value of money stock given by model of money demand, seems to be more employable
Econometrics · Economics · Inflation (cosmology) · Macroeconomics · Monetary base · Monetary economics · Monetary policy · Output gap · Stock (firearms) · European Monetary and Fiscal Policies
| Citations per year | 0.1 |
|---|---|
| Citation span | 2006 - 2015 (10) |
| Highly cited | No |