Optimality criteria of hybrid inflation-price level targeting

This paper provides a sensitivity analysis of the relative performance of inflation targeting, price level targeting, and hybrid targeting, the combination of these two. A simple, three-period, steady state to steady state economy is presented, where monetary policy is facing various sets of forward and backward looking expectations, social preferences on inflation and output gap stabilization, and degrees of cost push shock persistence. we derive optimal policy mix under the whole spectrum of these economic conditions, reporting also the criteria of the replicability of the theoretically optimal solution. The main intention of the examination is to reveal the nature of each interrelation between economic and policy parameters. The results show that (i) the relative strength of regimes depends heavily on the preconditions, and that (ii) the relationships of parameters related to the performance are non-linear and occasionally non-monotonic as well. our model specification is somewhat restrictive, however, contrary to the related literature, the examination, even in the intermediate cases, can be conducted analytically.hybrid inflation-price level targeting, hybrid new keynesian Phillips curve, cost push shock persistence

Evolution of price level targeting and inflation targeting

This paper puts together the origins and the development of price level targeting in Sweden and the inflation targeting in New Zealand. It highlights the common and dissimilar characteristics of the two monetary regimes, the two interpretations of ``price stability´´. Solid historical evidence shows that either inflation stabilization or - contrary to the conventional wisdom of our era - price stabilization can be a feasible goal of monetary policy

Cryopreservation of Pike Perch Sperm in Hatchery Conditions

Experiments were carried out on pike perch (Sander lucioperca L.) to find a method for stripping sperm without contamination by urine, to determine sperm concentration, and to fertilize large batches of eggs with cryopreserved sperm. Induced spawning technology for pike perch, an important predator fish species in Hungarian and central-eastern European pond aquaculture, has been developed only recently. Sperm cryopreservation can be an important tool for several reasons including the simplification of hatchery work and long-term preservation of genomes of males with high genetic value. In the present study, sperm was stripped without urine contamination, improving sperm quality, and large amounts of eggs were fertilized using 0.25 ml sperm, resulting in hatching percentages of 55±3% for 30-g batches of eggs and 87% for a 50-g batch

Optimality criteria of hybrid inflation-price level targeting

This paper provides a comprehensive analysis of the relative performance of inflation targeting, price level targeting, and hybrid targeting of them in a simple three-period steady state to steady state economy facing transmission lag, and derives optimal policies implementing commitment solution under all set of hybrid expectations, social preference, and cost-push shock persistence. The main intention of the examination is to reveal the nature of the interrelations between economic and policy parameters

Regulatory and Market Trends for ESG Bonds and Funds, and Some of the Associated Risks of Sovereigns

Promoting the financing of the transition to a sustainable economy is one of today’s key issues. However, access to scarce resources is further complicated by a striking new phenomenon: both regulators and investors are becoming increasingly “choosy”, as they make their decisions on whom to give money to dependent on circumstances that go beyond green and scientific aspects. It is therefore no coincidence that an increasing number of investment funds are obtaining ESG1 ratings that formulate exclusion rules for sovereign bonds based on NGO indicators (e.g. civil liberties, level of corruption). If such criteria become an international standard, a sovereign that fails to meet them could be threatened with total exclusion from the green/ ESG market. The aim of this essay is to review the regulatory environment and the market situation through this lens. It is important to note, however, that both legislation and market preferences are in a quickly evolving, amorphous state, and thus continuous monitoring of the conditions is essential

Optimality criteria of hybrid inflation-price level targeting

This paper provides a comprehensive analysis of the relative performance of inflation targeting, price level targeting, and hybrid targeting of them in a simple three-period steady state to steady state economy facing transmission lag, and derives optimal policies implementing commitment solution under all set of hybrid expectations, social preference, and cost-push shock persistence. The main intention of the examination is to reveal the nature of the interrelations between economic and policy parameters

ESG-kötvények és -alapok szabályozói-piaci trendjei, valamint a szuverének egyes kapcsolódó kockázatai

A fenntartható gazdaságra történő átállás finanszírozásának előmozdítása napjaink egyik központi témája. A szűkös forrásokhoz való hozzájutást ugyanakkor tovább nehezíti egy markánsan érzékelhető, újszerű jelenség: mind a szabályozók, mind a befektetők egyre „válogatósabbá” válnak, hiszen zöld természettudományos szempontokon túlmutató körülményektől is függővé teszik, hogy kinek adható/adnak pénzt. Nem véletlen tehát, hogy egyre több befektetési alap szerez olyan ESG1-minősítést, amely civil szervezetek indikátoraira alapozva fogalmaz meg szuverénkötvényeket kizáró szabályokat (pl. szabadságjogok, korrupció szintje). Ilyen kritériumok nemzetközi standarddá válása az azokat nem teljesítő szuverént akár a zöld/ESG-piacról történő teljes kizáródással is fenyegethetik. Az esszé célja a szabályozói környezet és a piaci helyzet áttekintése e szemüvegen keresztül. Fontos rögzíteni azonban, hogy mind a jogszabályok, mind a piaci preferenciák erősen formálódó, képlékeny állapotban vannak, ezért a körülmények folyamatos monitorozása elengedhetetlen

Survey and Evaluation of Advanced Mobility Management Schemes in the Host Identity Layer

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