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Author: Veena Mishra
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 250
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Book Description
Author: Veena Mishra
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 250
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Book Description
Author: Bengt Assarsson
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 176
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Book Description
Author: Bela Csikos-Nagy
Publisher: Springer
ISBN: 1349062650
Category : Business & Economics
Languages : en
Pages : 559
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Book Description
Author: David C. Parsley
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper presents new evidence that a positive association exists between inflation and relative prices and relative inflation rates in very disaggregated data for the United States over the period 1975 through 1992. There is also evidence that the response of relative prices and relative inflation rates to inflation varies inversely with the information content of a given shock to inflation. The relationship is studied from two cross-sectional perspectives using individual price series collected from forty-eight U.S. cities. Evidence on the persistence of the effects of inflation on relative prices is also presented. Results here demonstrate the absence of a long run relationship between inflation and relative price dispersion, i.e., the two series are not cointegrated. Finally, results from vector autoregressions further imply the effect is smaller than indicated by typical estimates.
Author: Michael D. Bordo
Publisher: University of Chicago Press
ISBN: 0226066959
Category : Business & Economics
Languages : en
Pages : 545
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Book Description
Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
Author: I. C. Andrade
Publisher:
ISBN:
Category : Applied mathematics
Languages : en
Pages : 25
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Book Description
Author: Ricardo Reis
Publisher:
ISBN:
Category : Consumer goods
Languages : en
Pages : 50
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Book Description
This paper uses a dynamic factor model for the quarterly changes in consumption goods' prices to separate them into three components: idiosyncratic relative-price changes, aggregate relative-price changes, and changes in the unit of account. The model identifies a measure of "pure" inflation: the common component in goods' inflation rates that has an equiproportional effect on all prices and is uncorrelated with relative price changes at all dates. The estimates of pure inflation and of the aggregate relative-price components allow us to re-examine three classic macro-correlations. First, we find that pure inflation accounts for 15-20% of the variability in overall inflation, so that most changes in inflation are associated with changes in goods' relative prices. Second, we find that the Phillips correlation between inflation and measures of real activity essentially disappears once we control for goods' relative-price changes. Third, we find that, at business-cycle frequencies, the correlation between inflation and money is close to zero, while the correlation with nominal interest rates is around 0.5, confirming previous findings on the link between monetary policy and inflation.
Author: Isabel C. Andrade
Publisher:
ISBN:
Category :
Languages : en
Pages : 25
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Book Description
Author: John E. Golob
Publisher:
ISBN:
Category : Government publications
Languages : en
Pages : 106
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Book Description
Author: Guy Debelle
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 29
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Book Description
We test whether the time-series positive correlation of inflation and intermarket relative price variability is also present in a cross-section of US cities. We find this correlation to be a robust empirical regularity: cities which have higher than average inflation also have higher than average relative price dispersion, ceteris paribus. This result holds for different periods of time, different classes of goods, and across different time horizons. Our results suggest that at least part of the relationship between inflation and relative price variability cannot be explained by monetary factors
