Showing 1 - 10 of 77
sub indexes’ inflation dynamics indicate that the exchange rate pass-through in the perfectly competitive sector is … sector. Also, that inflation inertia is lower in the former than in the latter; adding up in more volatility of the perfectly … competitive inflation rate. For policy makers an interesting feature of the perfectly competitive price index is that the evidence …
Persistent link: https://www.econbiz.de/10005328869
This paper develops a model which can explain the hump-shaped impulse response of inflation to a monetary shock. A …). Nevertheless, we can show that inflation is hump-shaped under a reasonable range of parameters. It will be also shown that, in … order for inflation to be hump-shaped, sticky wages and variable capital utilization are important as well as dynamic …
Persistent link: https://www.econbiz.de/10005342361
One of the key inputs for inflation targeting regime is the right identification of inflationary or disinflationary … gap an inflation rate (Phillips Curve) and structural restrictions over output stochastic dynamics. The estimation is … problems and exhibits more relation with the Peruvian inflation process than other estimates, calculated with the Hodrick …
Persistent link: https://www.econbiz.de/10005699611
By placing store-level price data into bivariate Structural VAR models of inflation and relative price asymmetry, this … forecast error variance in inflation at the 12-month horizon. While the contemporaneous correlation between inflation and … relative price asymmetry is positive, idiosyncratic shocks lead to a substantial build-up in inflation only after two to five …
Persistent link: https://www.econbiz.de/10005328852
In this paper, we study the statistical relationship between money and prices in Argentina during the last quarter of the 20th century. We first look at the unit root characteristics of the series which suggest dividing the whole sample into two sub-samples: 1976 to 1989 and 1991 to 2001, as...
Persistent link: https://www.econbiz.de/10005328862
Forecasting inflation remains an intriguing research topic among academics and practitioners alike. Recent studies by … or other macroeconomic and financial variables for the purpose of forecasting inflation. In particular, it is found that … Bayesian Averaging of Classical Estimates (BACE) for forecasting inflation. Based upon the idea of model averaging, the BACE …
Persistent link: https://www.econbiz.de/10005063687
, while those using GMM have reported the inflation dynamics to be predominantly forward-looking. This paper provides a …
Persistent link: https://www.econbiz.de/10005702637
evaluate the impact of monetary policy on New Zealand business cycles and inflation variability and the output/inflation … policy has generally been counter-cyclical, thereby reducing business cycles and inflation variability. Exceptions are in … of inflation targeting monetary policy tended to simultaneously reduce inflation and output variability. From 1996 to …
Persistent link: https://www.econbiz.de/10005130253
This paper shows the way how persistent world inflation shocks hitting a small open economy can re-weight the … inflation. We derive a state-dependent Phillips curve based on translog preferences that make the elasticity of substitution of … disinflation on domestic inflation, as experienced in small open economies such as New Zealand, Chile and Peru …
Persistent link: https://www.econbiz.de/10005328858
The aim of the present paper is to analyze the pass-through from exchange rate to inflation in Brazil from 1980 to 2002 …
Persistent link: https://www.econbiz.de/10005328886