How West Africa Can Reap More Profit From the Global Chocolate Market
Resource-rich countries like Ghana are often cut out of lucrative parts of the business like manufacturing. The “fairchain movement” wants to change that.
Monthly rise of 3 pct for producer price index in Aug prompts cost concerns
Greece’s Producer Price Index (PPI) contracted for the sixth successive month in August, dropping by 8.3 percent year-on-year (YoY), after falling by 8.6 percent in July, ELSTAT data showed on Friday.
Retail sales grow by 3.1 pct in Jul, as food sales continue to contract
Greece’s retail sales returned to positive territory in July, with a rise of 3.1 percent year-on-year (YoY), after a drop of 1.3 percent in June, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Cutting to the Chase in London
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HSBC executive to leave after criticising UK’s stance on China
Sherard Cowper-Coles said Britain had been ‘weak’ in response to US pressure
Truckmaker Hino hauls in 49,900% return with Japan property deal
Land sale indicative of value hidden in Japanese corporate sector
Advisers urged to improve client communications
Firms face greater scrutiny under new Consumer Duty rules
Eurozone inflation hits two-year low
Rate of 4.3% less than expectations and could signal end to ECB rate rises
Optimal monetary policy in an estimated SIR model
This paper studies the design of Ramsey optimal monetary policy in a Health New Keynesian (HeNK) model with Susceptible, Infected and Recovered (SIR) agents. The nonlinear model is estimated with maximum likelihood techniques on Euro Area data. Our objective is to deconstruct the mechanism by which contagion risk affects the conduct of monetary policy. If monetary policy is the only game in town, we find that the optimal policy features significant deviations from price stability to mitigate the effect of the pandemic.
Optimal monetary policy in an estimated SIR model
This paper studies the design of Ramsey optimal monetary policy in a Health New Keynesian (HeNK) model with Susceptible, Infected and Recovered (SIR) agents. The nonlinear model is estimated with maximum likelihood techniques on Euro Area data. Our objective is to deconstruct the mechanism by which contagion risk affects the conduct of monetary policy. If monetary policy is the only game in town, we find that the optimal policy features significant deviations from price stability to mitigate the effect of the pandemic.
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