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Price Rigidity and Flexibility: New Empirical Evidence
Levy, Daniel - Volkswirtschaftliche Fakultät, … - 2007
The marketplace, along with its price system, is the single most important institution in a western-style free enterprise economy. The ability of prices to adjust to changes in supply and demand conditions enables the market to function efficiently and lies behind the magical invisible hand...
Persistent link: https://www.econbiz.de/10005835391
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Price Setting and Price Adjustment in Some European Union Countries: Introduction to the Special Issue
Levy, Daniel; Smets, Frank - Volkswirtschaftliche Fakultät, … - 2010
This introductory essay briefly summarizes the eleven empirical studies of price setting and price adjustment that are included in this special issue. The studies, which use data from several European countries, were conducted as part of the European Central Bank’s Inflation Persistence Network.
Persistent link: https://www.econbiz.de/10008777363
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Alternative Pricing Mechanisms for Islamic Financial Instruments: Economic Perspective
Saba, Irum; Alsayyed, Nidal - Volkswirtschaftliche Fakultät, … - 2010
growth of Islamic banking which is the use of KIBOR as benchmark for pricing the Islamic banking products. Muskun home … financing product of BankIslami Pakistan Limited is used in this paper to elaborate the pricing and benchmarking of product …, spread between the conventional interest rate and Islamic profit rate as well as the alternative product pricing mechanism to …
Persistent link: https://www.econbiz.de/10008636502
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European Union Economy System Dynamic Model Development
Skribans, Valerijs - Volkswirtschaftliche Fakultät, … - 2012
The formation of the European Union (EU) is the one of the biggest political – economic events of the last 50 years. The aim of this study is to develop EU economy functioning system dynamic model. Main research method is system dynamics. General scheme of EU economy system dynamic model is...
Persistent link: https://www.econbiz.de/10011259562
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Modeling inflation dynamics in a conflict economy
Onour, Ibrahim - Volkswirtschaftliche Fakultät, … - 2015
Research Problem: The primary purpose of the paper is to set up a macroeconomic model that depict domestic inflation dynamics in a conflict economy impeded by parallel market for foreign exchange and internal political conflict. Research methodology: To investigate domestic inflation sensitivity...
Persistent link: https://www.econbiz.de/10011261045
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An inflation expectations horserace
Guzman, Giselle C. - Volkswirtschaftliche Fakultät, … - 2010
For decades, the academic literature has focused on three survey measures of expected inflation: the Livingston Survey, the Survey of Professional Forecasters, and the Michigan Survey. While these measures have been useful in developing models of forecasting inflation, the data are low frequency...
Persistent link: https://www.econbiz.de/10009647457
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The case for higher frequency inflation expectations
Guzman, Giselle C. - Volkswirtschaftliche Fakultät, … - 2011
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...
Persistent link: https://www.econbiz.de/10009650037
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Nominal and real wage flexibility in EMU
Arpaia, Alfonso; Pichelmann, Karl - Volkswirtschaftliche Fakultät, … - 2007
Both common macroeconomic shocks and country-specific developments have subjected the flexibility of wage setting mechanisms in the euro area to a stress test in recent years. Against this background, this paper takes a fresh look at wage flexibility in EMU and attempts to draw a few lessons...
Persistent link: https://www.econbiz.de/10005835754
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Inflation Transmission in the EMU: A Markov-Switching VECM Analysis
Thams, Andreas - Volkswirtschaftliche Fakultät, … - 2007
This paper analyzes the transmission of inflation across the five largest economies in the European Monetary Union, i.e. France, Germany, Italy, Netherlands and Spain. We use monthly CPI inflation rates for the period 1970-2006. Given the long observation period and the continuing economic...
Persistent link: https://www.econbiz.de/10005836128
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Inflation Targeting Framework: Is the story different for Asian Economies?
Naqvi, Bushra; Rizvi, Syed Kumail Abbas - Volkswirtschaftliche Fakultät, … - 2009
This paper aims to measure and compare the economic performance of four Asian economies who adopted Inflation Targeting (Indonesia, Philippines, South Korea and Thailand) against their six neighboring Asian non-targeting economies (China, Hong Kong, India, Malaysia, Singapore and Pakistan)....
Persistent link: https://www.econbiz.de/10008497655