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about 50% of the Flemish; but by the 1480s, they had narrowed that gap (with much less inflation) to about 80%. That gap was …
Persistent link: https://www.econbiz.de/10005617005
This paper proposes a measure of real-time inflation expectations based on metadata, i.e., data about data, constructed … from internet search queries performed on the search engine Google. The forecasting performance of the Google Inflation … Search Index (GISI) is assessed relative to 37 other indicators of inflation expectations – 36 survey measures and the TIPS …
Persistent link: https://www.econbiz.de/10009647210
We introduce intergenerational transfers into a general equilihrium life-cycle model in order to explain observed levels of wealth heterogeneity. In our overlapping generations model, heterogenous agents face uncertain lifetime and leave both accidental and voluntary bequests to their cinldren....
Persistent link: https://www.econbiz.de/10005187296
The recent inflation in India is special both because of its peaks as also for its persistence. While couple of years … back the rising inflation was blamed on global factors, this time around there is no denying the fact that it is due to … the recent inflation is also not shared equally, with the bottom strata facing uncommon difficulties, as their purchasing …
Persistent link: https://www.econbiz.de/10009372487
Research Problem: The primary purpose of the paper is to set up a macroeconomic model that depict domestic inflation … methodology: To investigate domestic inflation sensitivity to macro variables time-varying coefficient estimation approach … (government spending) is the main driver of domestic inflation,the increasing role of parallel market for foreign exchange and …
Persistent link: https://www.econbiz.de/10011261045
For decades, the academic literature has focused on three survey measures of expected inflation: the Livingston Survey … models of forecasting inflation, the data are low frequency measures which appear anachronistic in the modern era of high … frequency and real-time data. I present a collection of 37 different measures of inflation expectations, including many …
Persistent link: https://www.econbiz.de/10009647457
I present evidence that higher frequency measures of inflation expectations outperform lower frequency measures of … inflation expectations in tests of accuracy, predictive power, and rationality. For decades, the academic literature has focused … on three survey measures of expected inflation: the Livingston Survey, the Survey of Professional Forecasters, and the …
Persistent link: https://www.econbiz.de/10009650037
understand these effects it is important to clarify what is meant by inflation, the pure theory of the sources of inflation, how … prices and fixed income assets. This article reviews the theory of inflation, its sources and effects on asset prices …Changes in the general level of prices and inflation have profound effects on asset prices. There are several reasons …
Persistent link: https://www.econbiz.de/10009367976
This study analyses empirically the link between real house prices and key macro variables like prices, output and interest rates for ten OECD countries. We find out that a monetary policy shock lowers real house prices in all ten countries, where the interest rate shock explains between 12 and...
Persistent link: https://www.econbiz.de/10005034973
Summary. This is an extended working paper version of the paper that appeared in Economic Theory. It paper compares the … floating exchange rates, raising domestic inflation can increase production if credit is rationed. However, there exist … inflation thresholds: increasing inflation beyond the threshold level will reduce domestic output. Instability, indeterminacy of …
Persistent link: https://www.econbiz.de/10005037728