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The cyclical behaviour of prices in the U.K. is investigated using a sample of annual observations covering the period 1886-1993. A structural time series model relating consumer prices to output is estimated over four sub-periods. The results indicate that prices were procyclical in the...
Persistent link: https://www.econbiz.de/10005382219
Persistent link: https://www.econbiz.de/10005612870
Any measure of unobserved inflation uncertainty relies on specific assumptions which are most likely not fulfilled … indicator for inflation uncertainty. Moreover, our results suggest that using only one individual disagreement measure may be … that higher inflation is followed by higher uncertainty. By contrast, we obtain contradictory results for the individual …
Persistent link: https://www.econbiz.de/10011151316