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Persistent link: https://www.econbiz.de/10000914068
analyze China’s role in global inflation dynamics. We identify Chinese supply and demand shocks and examine their … to be more strongly affected than consumer prices by Chinese shocks. The overall share of international inflation … exposure help explaining crosscountry differences in price responses. -- Global inflation ; China ; international business …
Persistent link: https://www.econbiz.de/10009732001
Yes, indeed; at least for macroeconomic policy interaction. We examine a Neo-Classical economy and provide the conditions for policy arrangements to successfully stabilize the economy when agents have either rational or adaptive expectations. For a contemporaneous-data monetary policy rule, the...
Persistent link: https://www.econbiz.de/10011513023
Our paper studies the relationship between money growth and consumer price inflation in the euro area using wavelet … analysis. Wavelet analysis allows to account for variations in the money growth-inflation relationship both across the … frequency spectrum and across time. We find evidence of strong comovements between money growth and inflation at low frequencies …
Persistent link: https://www.econbiz.de/10010433361
. Previous literature has highlighted the role of an economy's "structure" - such as its inflation volatility, inflation rate …, forecasts predicting how a given exchange rate movement will impact inflation at a specific point in time should take into …
Persistent link: https://www.econbiz.de/10011671018
In a parsimonious regime switching model, expected consumption growth varies over time. Adding in ation as a conditioning variable, we uncover two states in which expected consumption growth is low, one with high and one with negative expected in ation. Embedded in a general equilibrium asset...
Persistent link: https://www.econbiz.de/10012000570
The failure to predict the surge in inflation in 2021 raises questions about whether we are better equipped to … anticipate a future decline in inflation. What tools do we intend to use for predicting the trajectory of inflation? Are we still … primarily relying on survey data regarding inflation expectations, and are we still employing a Calvo-type structure to model …
Persistent link: https://www.econbiz.de/10014465012
Central bank surveys frequently elicit households’ probabilistic beliefs about future inflation. However, most … household surveys use a response scale that is tailored towards low-inflation regimes. Using data from a randomized controlled … trial included in the Bundesbank Online Panel Households, we show (i) that keeping the original scale in high-inflation …
Persistent link: https://www.econbiz.de/10014472800
number of inflation and real activity measures for the United States. We identify demand and supply factors by imposing … demand and supply over the past five decades. The most recent factor estimates indicate that the inflation surge since mid …
Persistent link: https://www.econbiz.de/10013460150
Persistent link: https://www.econbiz.de/10000888170