Showing 1 - 10 of 1,550
We study the relation between inflation and real activity over the business cycle. We employ a Trend-Cycle VAR model to … control for low-frequency movements in inflation, unemployment, and growth that are pervasive in the post-WWII period. We show … that cyclical fluctuations of inflation are related to cyclical movements in real activity and unemployment, in line with …
Persistent link: https://www.econbiz.de/10014247995
inflation strongly and persistently, (ii) lead to statistically weak negative effects on activity, (iii) contributed to … having a stronger effect on inflation expectations. Quantitatively, increasing political pressure by half as much as Nixon …
Persistent link: https://www.econbiz.de/10014544739
inflation behaves as if prices are nearly fully sticky (flexible). Using (conventional) measures of inflation that understate …
Persistent link: https://www.econbiz.de/10014544805
We study how within-store price variation changes with inflation, and whether households exploit it to attenuate the … inflation burden. We use micro price data for food products sold by 91 large multi-channel retailers in ten countries between … discounts grew at a much lower average rate than regular prices, helping to mitigate the inflation burden. By contrast …
Persistent link: https://www.econbiz.de/10014576655
fluctuations associated with these events are also discussed, as is their role in the recent surge of inflation, with a particular …
Persistent link: https://www.econbiz.de/10014322883
inflation expectations. We develop this measure using assumptions common in economic analysis of open economies. Using quarterly …
Persistent link: https://www.econbiz.de/10012471456
unemployment-inflation tradeoff since 1995 …
Persistent link: https://www.econbiz.de/10012470298
This note demonstrates that Bennett McCallum's recent critique of low frequency estimates of macro-economic relationships is of little empirical significance. It also demonstrates that readily available and frequently used techniques can be used to diagnose the problem McCallum raises. Finally,...
Persistent link: https://www.econbiz.de/10012477640
, according to the Johansen procedure, cointegration fails to hold the farther out the forecasts extend. At the one year ahead …
Persistent link: https://www.econbiz.de/10012472881
In a model where a variable Y[sub t] is proportional to the present value, with constant discount rate, of expected future values of a variable y[sub t] the "spread" S[sub t]= Y[sub t] - [theta sub t] will be stationary for some [theta] whether or not y[sub t]must be differenced to induce...
Persistent link: https://www.econbiz.de/10012477190