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horizon-dependent biases and lower accuracy than simple unconditional uncertainty forecasts. We examine the inflation …
Persistent link: https://www.econbiz.de/10011962843
Persistent link: https://www.econbiz.de/10011878403
Persistent link: https://www.econbiz.de/10014419426
two-way communication between the central bank and the public affects inflation dynamics. When inflation target is … hence the bank can stabilize inflation. However, when inflation target is unobservable or less credible, the public updates … their perceived inflation target and the information revealed from markets to the bank becomes less perfect. The degree of …
Persistent link: https://www.econbiz.de/10003867884
multi-country GDP dataset and disaggregated CPI inflation data for the US reveal that sparsity matters a lot, as the …
Persistent link: https://www.econbiz.de/10009674269
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