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On the Typical Spectral Shape of an Economic Variable
Levy, Daniel; Dezhbakhsh, Hashem - EconWPA - 2004
In a classical article, Granger (1966) argued that the levels of most economic time series have spectra that exhibit a smooth declining shape with considerable power at very low frequencies. He termed it "the typical spectral shape of an economic variable." Granger's assertion has not been...
Persistent link: https://www.econbiz.de/10005412862
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The Productivity of Pharmaceuticals in Improving Health: An Analysis of the OECD Health Data
Shaw, James W.; Horrace, William C.; Vogel, Ronald J. - EconWPA - 2002
Although a number of studies have been conducted on health production functions, little attention has been given to pharmaceuticals as a separate input into the production of health. Building upon existing published work, this paper uses an alternative specification and more recent data to...
Persistent link: https://www.econbiz.de/10005413009
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ICT Use and Productivity: A Synthesis from Studies of Australian Firms
Commission, Productivity - EconWPA - 2004
The increased use of information and communications technology (ICT) has helped to raise Australia’s productivity growth, according to a new Commission study. It has enabled firms to innovate in what they do and how they do it. ICT Use and Productivity: A Synthesis from Studies of Australian...
Persistent link: https://www.econbiz.de/10005556032
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Equity Returns and Inflation: The Puzzlingly Long Lags
Lothian, James R.; McCarthy, Cornelia H.. - EconWPA - 2001
equities fail the test as inflation hedges, as had been quite widely believed, but that they take so long to pass. …
Persistent link: https://www.econbiz.de/10005124935
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CLAVES DE LA INFLACION DE 2005
Marongiu, Federico - EconWPA - 2005
El tema de la inflación ha sido uno de los más debatidos en los últimos meses. Los incrementos de precios registrados en el primer trimestre de 2005 han avivado la discusión. Este trabajo muestra que el problema está lejos de estar fuera de control y que determinadas medidas de política...
Persistent link: https://www.econbiz.de/10005076625
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Exchange Rate Regimes and Nominal Convergence in the CEECs
Järvinen, Marketta - EconWPA - 2002
This paper examines, in the context of future EMU membership of the Central and Eastern European countiries (CEECs), the interaction between fiscal policy and the price level in different exchange rate regimes. The theoretical framework is based on the Fiscal Theory of the Price Level (FTPL)....
Persistent link: https://www.econbiz.de/10005076688
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Is corporatism feasible?
Acocella, Nicola; Bartolomeo, Giovanni Di - EconWPA - 2003
In this paper we consider a standard policy game between the Government and a union. In such a framework, we first investigate the effects of corporatism on macroeconomic performance vis-à-vis different kinds of non-co-operative equilibria. Afterwards, we introduce in the literature the issue...
Persistent link: https://www.econbiz.de/10005076716
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INFLATION AND PRICE DISPERSION IN EQUITY MARKETS AND IN GOODS AND SERVICES MARKETS
Popper, David Parsley Helen - EconWPA - 2002
An empirical link between inflation and price dispersion has been well established in goods and services markets – both …. Specifically, we examine the link between inflation and price dispersion in an empirical setting patently lacking the market … inflation-dispersion link in goods and services markets with a matched panel of equity market prices. Surprisingly, we find that …
Persistent link: https://www.econbiz.de/10005076784
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Who Controls the Price Level?
Erdogdu, Oya S. - EconWPA - 2003
Under the guidance of different theories and the problem of dominance and activeness, this study gives a survey of the rapidly growing literature on Fiscal Theory of Price Level, which opens up new horizons in a non–Ricardian world and questions the effectiveness of monetary policy on price...
Persistent link: https://www.econbiz.de/10005076798
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Staggered prices and trend inflation: some nuisances
Ascari, Guido - EconWPA - 2004
Most of the papers in the sticky-price literature are based on a log- linearization around the zero inflation steady … state, a simplifying but counterfactual assumption. This paper shows that when trend inflation is considered, both the long … results obtained by models log-linearized around a zero inflation steady state are quite misleading. Furthermore, the same is …
Persistent link: https://www.econbiz.de/10005076806