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This paper reviews alternative approaches to measuring an economy''s cost competitiveness and proposes some new measures inspired by the economic theory of index numbers. The indices provide a theoretical benchmark for estimated real effective exchange rates, but differ from standard measures in...
Persistent link: https://www.econbiz.de/10014400395
inflation combined with a free float seems to be the ultimate option. The paper shows how to design and operationalize such a …
Persistent link: https://www.econbiz.de/10014401300
sub-Saharan African countries on the relative importance of fiscal and monetary determinants of inflation. Based on the … dynamic response of inflation to different shocks, including nominal public debt, results show that a number of SSA countries … of inflation variability, as predicted by the fiscal theory of the price level …
Persistent link: https://www.econbiz.de/10014401393
This paper provides general equilibrium estimates of the steady-state welfare gains of lowering inflation from a low … tax, it is found that inflation unambiguously reduces capital intensity, drives up the before-tax real rate of return to …
Persistent link: https://www.econbiz.de/10014399602
This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the … findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad … retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing …
Persistent link: https://www.econbiz.de/10012796185
inflation targeting regime in the transmission from exchange rate movements to prices. We perform a set of robustness checks …
Persistent link: https://www.econbiz.de/10011436820
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Prais (1958) showed that the CPI computed by statistical agencies can be interpreted as a weighed average of household price indexes, the weight of each household determined by its total expenditures. We decompose the difference between the standard CPI and a democratically weighed index (i.e.,...
Persistent link: https://www.econbiz.de/10014400882