Showing 1 - 10 of 348
This study presents a framework for extracting long-run GDP growth and inflation expectations from financial market … inflation expectations for the euro area and for the United States. …
Persistent link: https://www.econbiz.de/10005126246
Using a recently introduced nonparametric test, I investigate two important and distinct asymmetries in cross-country quarterly macroeconomic time series. Asymmetries are suggested by many theories (old and new), and those discovered aid in the selection of the appropriate nonlinear time series...
Persistent link: https://www.econbiz.de/10005412800
This paper examines the long-run effects of supply shocks (such as oil shocks) on inflation in the United States. The … persistence of supply shocks in U.S. inflation fell considerably during the period of Volcker’s disinflation (1979-1982). My … the behavior of inflation expectations - agents expected shocks to persist in the pre-Volcker period, but not in the post …
Persistent link: https://www.econbiz.de/10005561182
We use store-level data to document the exact process of changing prices and to directly measure menu costs at five multi-store supermarket chains. We show that changing prices in these establishments is a complex process, requiring dozens of steps and a nontrivial amount of resources. The menu...
Persistent link: https://www.econbiz.de/10005412630
We combine two data sets to study price rigidity. The first consists of weekly time series of retail, wholesale, and spot prices for twelve products. These time series contain two exogenous cost shocks. We find that prices exhibit more rigidity in response to the second shock than the first. The...
Persistent link: https://www.econbiz.de/10005412696
We empirically study the price adjustment process at multiproduct retail stores. We use a unique store level data set for five large supermarket and one drugstore chains in the U.S., to document the exact process required to change prices. Our data set allows us to study this process in great...
Persistent link: https://www.econbiz.de/10005412912
In this study, we empirically examine the extent of price rigidity using a unique store-level time series data set - consisting of (i) actual retail transaction prices, (ii) actual wholesale transaction prices which represent both the retailers' costs and the prices received by manufacturers,...
Persistent link: https://www.econbiz.de/10005561335
This paper analyzes the effects of anticipated inflation on the resource allocations between production and financial … of each sector depends, among other factors, on the inflation rate. Higher inflation increases the marginal revenues of … costs of inflation. To estimate the change in the production structure and, thus, the costs of inflation we analyze data …
Persistent link: https://www.econbiz.de/10005126418
central bank can prevent or fix liquidity traps by appending to its inflation-targeting monetary policy with a prioritized …
Persistent link: https://www.econbiz.de/10005561118
Short 1-page review article of research by Mohsin Khan (IMF)on threshold effects in the relationship between inflation …
Persistent link: https://www.econbiz.de/10005561171