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The paper is organized as follows: Section 2 discusses briefly two main groups of theories that link inflation and relative price variability and provides a sketch of a survey of the literature. Section 3 takes on Ball and Mankiw's models predicting the causality from relative price variability...
Persistent link: https://www.econbiz.de/10013156386
Persistent link: https://www.econbiz.de/10011669736
This paper analyses the Balassa-Samuelson (B-S) framework for the case of Estonia using a unique dataset that consists of a 15-sectoral breakdown of GDP and a five-digit level CPI disaggregation with 260 items over the period from 1993 to 2002. Unlike the existing literature, the paper focuses...
Persistent link: https://www.econbiz.de/10014067119
In Poland between 1989 and 1997, growth in money and wages fueled inflation and appreciation of the real exchange rate lowered it. Large administered price increases associated with adjustment-in utilities and other sectors controlled by the government-produced substantial upward inflationary...
Persistent link: https://www.econbiz.de/10012749197
The objective of the paper is to analyse the nominal and real convergence process in Estonia drawing on the Balassa-Samuelson (B-S) framework. A 15-sectoral breakdown for GDP and a 5-digit level CPI data disaggregation with over 260 items is used for the period 1993:Q1 to 2002:Q1 to show that...
Persistent link: https://www.econbiz.de/10014087357
In this essay, I argue that the explosion of inflation during the Salvador Allende administration in Chile (above 1,500% on a six-month annualized measure) was predictable. The government's use of massive and strict price controls generated acute macroeconomic imbalances. I postulate that the...
Persistent link: https://www.econbiz.de/10015333361
transiting countries, namely Ukraine and Belarus. The development of a new transit corridor through Belarus (the Yamal … analysis of nthe strategies that Ukraine and Belarus may pursue in transiting Russian gas: non-cooperative duopoly, cooperative … Russia, we estimate prices and quantities for gas transit, the expected profits for Russia, Ukraine, and Belarus, and the …
Persistent link: https://www.econbiz.de/10009492269
transiting countries, namely Ukraine and Belarus. The development of a new transit corridor through Belarus (the Yamal … analysis of the strategies that Ukraine and Belarus may pursue in transiting Russian gas: non-cooperative duopoly, cooperative … Russia, we estimate prices and quantities for gas transit, the expected profits for Russia, Ukraine, and Belarus, and the …
Persistent link: https://www.econbiz.de/10011435015
Persistent link: https://www.econbiz.de/10013436158
In a VAR model of the US, the response of the relative price of durables to a monetary contraction is either flat or mildly positive. It significantly falls only if narrowly defined as the ratio between new house and nondurables prices. These findings survive three identification strategies and...
Persistent link: https://www.econbiz.de/10010515460