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This paper presents a comprehensive econometric analysis of the determinants of deflation in Hong Kong SAR. The analysis helps to determine the relative contributions of factors such as increased productivity, scarce money supply, and excess capacity in determining deflation. The main conclusion...
Persistent link: https://www.econbiz.de/10005248268
predictions of a forward-looking model of inflation. Wealth effects of public debt could also affect inflation, as posited by the … fiscal theory of the price level, but we do not find supportive evidence. The results suggest that the risk of a debt-inflation … inflation. …
Persistent link: https://www.econbiz.de/10005263906
inflation and posed a price puzzle insofar their evolution was not responsive to record low interest rates, double digit … commodities inflation, and sharp exchange rate depreciation. Commodities prices were shown to be driven by one common trend … accelerating commodities price inflation, subsequent world recession, and financial disorder; or tighten monetary policy with …
Persistent link: https://www.econbiz.de/10005263936
of inflation. Differences between the rate of inflation and currency depreciation (over- or undershooting of the exchange …
Persistent link: https://www.econbiz.de/10005264134
inflation. The results also suggest that a disequilibrium in the money market has a lasting impact on inflation. The paper …
Persistent link: https://www.econbiz.de/10005825934
In the past decades, much work has been geared toward solving the problem of time inconsistency in monetary policy and analyzing the coordination problem between fiscal and monetary policy. This paper provides a review of the theoretical background to these theories, while also focusing on their...
Persistent link: https://www.econbiz.de/10005826014
The introduction of a new currency has often occurred as part of a program to fight hyperinflation. In this context, non-uniform conversion rates for different types of assets and liabilities have been used as a means of reducing an initial “excess” stock of liquidity. The paper examines the...
Persistent link: https://www.econbiz.de/10005826265
This article uses two analytical methodologies to understand the dynamics of inflation in Paraguay, the mark-up theory … of inflation and the monetary theory of inflation. We also study the impact of different monetary aggregates. The results … suggest that monetary factors, in particular currency in circulation, play a major role in determining long-run inflation …
Persistent link: https://www.econbiz.de/10005826475
money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of … contains relevant information for inflation in some model classes. Money-based New Keynesian DSGE models and VARs incorporating …
Persistent link: https://www.econbiz.de/10005826669
This paper investigates inflation dynamics in Sudan using three different approaches: the single equation model, the …-conflict country that uses these three separate techniques to understand inflation dynamics. The use of these approaches is … inflation with 18-24 months time lag. …
Persistent link: https://www.econbiz.de/10005768738