In this paper we study the conjecture that oligopoly or imperfect competition causes more inflation than perfect competiton. We find necessary and sufficient conditions for this to occur.

Currency substitution is a widely spread phenomenon in developing countries with high level vagueness of its concept and causes. Therefore, this paper goes all out to examine the relationship that exists between currency substitution and some macroeconomic variables such as exchange rate,...

This paper proposes a measure of real-time inflation expectations based on metadata, i.e., data about data, constructed from internet search queries performed on the search engine Google. The forecasting performance of the Google Inflation Search Index (GISI) is assessed relative to 37 other...

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...

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...

This document analyzes different measures of international inflation and their influence on the domestic inflation. We found that these measurements have a statistical significant effect on the behavior of domestic inflation. Therefore the evolution of the international inflation must be...

This article proves the asymptotic efficiency of the Dickey Fuller (DF) test when the Data Generating Process of the variable under consideration is in fact mean stationary with breaks. Monte Carlo simulations show that asymptotic properties remain valid for sample sizes of practical interest....

This paper explores relative price convergence for 18 cities in Turkey. The convergence implies stationarity in the long run. Henceforth, to observe whether price convergence occurs or not, this study conducts unit root tests following Lee and Strazicich (2003) with two structural breaks in...

Inlfation targeting is a relatively new way to administer the monetary policy, since the velocity of money revealed unstable and hard pegs unsustainable. The new regime is one of flexible exchange rates, and the target of the monetary policy becomes the rate of inflation itself, instead of any...

The paper shows the advantages and handicaps of implementing an inflation target (IT) regime, from a Post-Keynesian and, thus, an institutional stance. It is Post-Keynesian as long as it does not perceive any benefit in the mainstream split between monetary and fiscal policies. And it is...