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Inflation, inequality and social conflict

Crowe, Christopher - London School of Economics (LSE) - 2004

This paper presents a political economy model of inflation as a result of social conflict. Agents are heterogeneous in … terms of income. Agents’ income levels determine their ability to hedge against the effects of inflation. The interaction of … model makes a number of predictions concerning which environments are conducive to the emergence of inflation. Inflation …

Persistent link: https://www.econbiz.de/10010745045

Nominal wage rigidity and the rate of inflation

Nickell, Stephen; Quintini, Glenda - London School of Economics (LSE) - 2001

inflation is low. Despite the substantial numbers of individuals whose nominal wages fall from one year to the next, we find … that if long-run inflation is one percent higher, the number of individuals with negative real pay growth increases by …

Persistent link: https://www.econbiz.de/10010746590

Do financial crises erode potential output? evidence from OECD inflation responses

Bijapur, Mohan - London School of Economics (LSE) - 2012

This paper presents evidence from a panel investigation of OECD countries that inflationary pressures tend to be stronger during recovery from financial crises compared to recovery from non-crisis economic downturns, indicating impairment in productive potential.

Persistent link: https://www.econbiz.de/10011126125

Are credit crunches supply or demand shocks?

Bijapur, Mohan - London School of Economics (LSE) - 2013

inflation to rise in the short term. Our results also suggest that the effects on aggregate supply have grown stronger in recent …

Persistent link: https://www.econbiz.de/10011126591

Investment choice and inflation uncertainty

Fischer, Gregory - London School of Economics (LSE) - 2013

aggregates. The data show that periods of increased inflation uncertainty are associated with substantial reductions in total …

Persistent link: https://www.econbiz.de/10010884740

Are there any Animal Spirits behind the Scenes of the Euro area Sovereign Debt Crisis?

Mamatzakis, Emmanuel - London School of Economics (LSE) - 2013

This paper reveals the underlying market’s preferences over the on going Euro area sovereign debt crisis. It builds on a loss function with reference to the ‘basis’, the difference between the spread over swap and Credit Default Swap (CDS) for sovereign bonds. This loss function is general...

Persistent link: https://www.econbiz.de/10010686658

Central banks and financial crises

Buiter, Willem H. - London School of Economics (LSE) - 2008

The paper draws lessons from the experience of the past year for the conduct of central banks in the pursuit of macroeconomic and financial stability. Macroeconomic stability is defined as either price stability or as price stability and sustainable output or employment growth. Financial...

Persistent link: https://www.econbiz.de/10010745389

Debt and incomplete financial markets: a case for nominal GDP targeting

Sheedy, Kevin D. - London School of Economics (LSE) - 2013

been used to justify a policy of strict inflation targeting. …

Persistent link: https://www.econbiz.de/10010746283

James Tobin : an appreciation of his contribution to economics

Buiter, Willem H. - London School of Economics (LSE) - 2003

Jim Tobin, who died on March 11, 2002 at the age of 84, was one of giants of economics of the second half of the twentieth century and the greatest macroeconomist of his generation. Tobin’s influence on macroeconomic theory is so pervasive - so much part of our professional ‘acquis’ - that...

Persistent link: https://www.econbiz.de/10011071326

On the out-of-sample importance of skewness and asymetric dependence for asset allocation

Patton, Andrew J. - London School of Economics (LSE) - 2002

Recent studies in the empirical finance literature have reported evidence of two types of asymmetries in the joint distribution of stock returns. The Þrst is skewness in the distribution of individual stock returns, while the second is an asymmetry in the dependence between stocks: stock...

Persistent link: https://www.econbiz.de/10011071238