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electricity prices and consumer inflation, for both Spain and Portugal. We find that the intervention led to an average reduction …. Regarding overall inflation, we observe notable differences between the two countries. In Spain, the intervention has an …
Persistent link: https://www.econbiz.de/10014474906
is likely to have large effects on the future path of house prices and inflation …
Persistent link: https://www.econbiz.de/10013210069
activity and inflation as latent variables. We incorporate these latent variables into a factor-augmented vector autoregression … activity and inflation, consistent with previous studies. In contrast to much of the literature, however, we find that central …-bank-determined changes in Chinese interest rates also have substantial impacts on economic activity and inflation, while other measures of …
Persistent link: https://www.econbiz.de/10012458147
matter for inflation, and we document a Fisherian response of inflation across all maturities in response to a bond demand … perceived riskiness of sovereign debt increases inflation and thus complicates the task of controlling price growth. …
Persistent link: https://www.econbiz.de/10014467071
, except for the response of prices. While sovereign risk raises inflation, uncertainty suppresses price growth - a result …
Persistent link: https://www.econbiz.de/10014467072
function involving output and inflation gaps, increasing core spending would generate substantial welfare improvements …
Persistent link: https://www.econbiz.de/10012457242
This paper considers VAR models incorporating many time series that interact through a few dynamic factors. Several econometric issues are addressed including estimation of the number of dynamic factors and tests for the factor restrictions imposed on the VAR. Structural VAR identification based...
Persistent link: https://www.econbiz.de/10012467213
Structural vector autoregressions (VARs) are widely used to trace out the effect of monetary policy innovations on the economy. However, the sparse information sets typically used in these empirical models lead to at least two potential problems with the results. First, to the extent that...
Persistent link: https://www.econbiz.de/10012468474
actions are explained solely by its forecasts of inflation and real activity. Finally, we explore the possibility of …
Persistent link: https://www.econbiz.de/10012470341
The coronavirus is a global event of historical proportions and just a few months changed the time series properties of the data in ways that make many pre-covid forecasting models inadequate. It also creates a new problem for estimation of economic factors and dynamic causal effects because the...
Persistent link: https://www.econbiz.de/10012599350