Showing 1 - 10 of 112
Persistent link: https://www.econbiz.de/10000964358
inflation and output dynamics in the United States. In particular, I find that real money balance effects are quantitatively …
Persistent link: https://www.econbiz.de/10003933293
The purpose ot this study is to test the hypothesis that inflation uncertainty increases at higher levels of inflation … conditional variance of the error term to be time-varying. Since this variance is a proxy for inflation uncertainty, a positive … relationship between the conditional variance and inflation would be interpreted as evidence that inflation uncertainty increases …
Persistent link: https://www.econbiz.de/10005808350
This paper examines the performance of M1 in an indicator model of inflation over time horizons as long as 16 quarters … the deviations of M1 from its long-run path provide "distant-early-warning" information about the future path of inflation. …
Persistent link: https://www.econbiz.de/10005536886
This paper surveys the empirical literature on the benefits of low inflation emphasizing contributions since 1990. It … at the costs of inflation, or the benefits of price stability, in the context of four themes: inflation creates … uncertainty about the future; there are costs of having to cope with inflation; inflation affects equity and fairness; and 'living …
Persistent link: https://www.econbiz.de/10005673238
A vector error-correction Model (VECM) that Forecasts inflation between the current quarter and eight quarters ahead is … found to privide significant leading information about inflation. The model focusses on th effects of deviations of M1 from …
Persistent link: https://www.econbiz.de/10005673307
The types of contracts that arise in a typical vertical manufacturer–retailer relationship are more sophisticated than usually assumed in standard macroeconomic models. In addition to setting per-unit prices, manufacturers and retailers revert to non-linear pricing and non-price instruments....
Persistent link: https://www.econbiz.de/10005162396
inflation low and stable. The authors use the Bank of Canada's 2002-03 price-setting survey data to investigate Canadian firms …
Persistent link: https://www.econbiz.de/10005162398
In many mainstream macroeconomic models, sticky prices play an important role in explaining the effects of monetary policy on the economy. Various theories have been set forth to explain why prices are sticky. This study takes a firm-level survey approach, in a spirit similar to Blinder et al....
Persistent link: https://www.econbiz.de/10005673303
This paper examines the interaction between monetary policy and macroprudential policy and whether policy makers should respond to financial imbalances. To address this issue, we build a dynamic general equilibrium model that features financial market frictions and financial shocks as well as...
Persistent link: https://www.econbiz.de/10009651312