Showing 1 - 10 of 16
Recent studies have indicated that the terms 'NAIRU' (non-accelerating inflation rate of unemployment) and 'natural … features. This study evaluates comparatively the inflation-forecasting power of alternative time-varying estimates of the … twentieth century. The analysis reveals that the overall inflation-forecasting utility of the natural rate of unemployment …
Persistent link: https://www.econbiz.de/10005835658
This study sheds new light on the cross-sectional effects of inflation, which have substantial implications for stock … individual companies, focusing on the implications for both researchers and investment practitioners. I develop inflation …-adjustment procedures that are straightforward for investors to implement in real time for extracting the inflation effect on individual …
Persistent link: https://www.econbiz.de/10011259622
The research in this paper is focus on macroeconomic analysis of trade and other relevant indicator for real economy such as government net debt, exchange rate, interest rate, and especially the correlation between trade and growth. Today is widely accepted that openness of counties have...
Persistent link: https://www.econbiz.de/10009151295
significantly depend on Brent oil price and on the inflation in a structure of administered price. Second at the level of the … monthly analysis, the conducted study allowed us to identify the nature of inflation, which is said to the production cost …
Persistent link: https://www.econbiz.de/10011114550
A number of studies have documented a reduction in aggregate macroeconomic volatility beginning in the early 1980s. Using an empirical model of business cycles, we extend this line of research to state-level employment data and find significant heterogeneity in the timing and magnitude of the...
Persistent link: https://www.econbiz.de/10005360567
variables other than inflation. …
Persistent link: https://www.econbiz.de/10005352838
In this paper, we present a dynamic optimizing model that allows explicitly for imperfect substitutability between different financial assets. This is specified in a manner which captures Tobin's (1969) view that an expansion of one asset's supply affects both the yield on that asset and the...
Persistent link: https://www.econbiz.de/10005352930
Woodford (2007) argues that it is not appropriate to regard inflation in the steady state of New Keynesian models as …-rate policy rule determines steady-state inflation. In this paper, I offer an alternative interpretation of steady-state behavior …, according to which it is appropriate to regard steady-state inflation as determined by steady-state money growth. The argument …
Persistent link: https://www.econbiz.de/10005352999
We study how the use of judgement or "add-factors" in macroeconomic forecasting may disturb the set of equilibrium outcomes when agents learn using recursive methods. We isolate conditions under which new phenomena, which we call exuberance equilibria, can exist in standard macroeconomic...
Persistent link: https://www.econbiz.de/10005707643
This paper discusses criticisms of the IS-LM framework in the macroeconomic literature of the last 40 years, and how the modern optimizing version of IS-LM addresses those criticisms. It is argued that many of the criticisms had been addressed by best-practice traditional IS-LM. Relative to this...
Persistent link: https://www.econbiz.de/10005707651