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Money and the Dispersion of Relative Prices
Hercowitz, Zvi - 2021
A price dispersion equation is tested with data from the German hyper-inflation. The equation is derived from a version …
Persistent link: https://www.econbiz.de/10013213456
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Meeting the Mandate for Biofuels : Implications for Land Use, Food and Fuel Prices
Chen, Xiaoguang - 2015
Biofuel production is being promoted through various policies such as mandates and tax credits. This paper uses a dynamic, spatial, multi-market equilibrium model, Biofuel and Environmental Policy Analysis Model (BEPAM), to estimate the effects of these policies on cropland allocation, food and...
Persistent link: https://www.econbiz.de/10013038327
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Price Impacts of Deals and Predictability of the Exchange Rate Movements
Ito, Takatoshi - 2010
This paper examines the price impact and the predictability of the exchange rate movement using the transaction data recorded in the electronic broking system of the spot foreign exchange market. The number of actual deals at the ask (or bid side) for a specified time interval may be regarded as...
Persistent link: https://www.econbiz.de/10012760548
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The Golden Dilemma
Erb, Claude B. - 2013
. We critically examine popular stories such as 'gold is an inflation hedge'. We show that gold may be an effective hedge … if the investment horizon is measured in centuries. Over practical investment horizons, gold is an unreliable inflation …
Persistent link: https://www.econbiz.de/10013088402
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Relative Goods' Prices, Pure Inflation, and the Phillips Correlation
Reis, Ricardo - 2010
-price changes, and an index of equiproportional changes in all inflation rates, that we label quot;purequot; inflation. The paper … price changes to fundamental economic shocks. We use the estimates of the pure inflation and aggregate relative …-price components to answer two questions. First, what share of the variability of inflation is associated with each component, and how …
Persistent link: https://www.econbiz.de/10012759679
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Inflation and the Informativeness of Prices
Ball, Laurence; Romer, David H. - 2021
This paper studies the welfare effects of the relative price variability arising from inflation. When agents interact … informational role: a potential customer uses current prices as signals of future prices. Inflation reduces the informativeness of … at moderate inflation rates …
Persistent link: https://www.econbiz.de/10013214577
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Inflation and the Distribution of Price Changes
Bryan, Michael F.; Cecchetti, Stephen G. - 2021
on correlations between inflation and its moments goesback over thirty years, and was first used to reject the … independence of relative price changes and inflation that is assumed in neo- classical models. More recently, New Keynesian … macroeconomists have shown that the strong positive correlation between inflation and the skewness of the price change distribution is …
Persistent link: https://www.econbiz.de/10013230373
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Money, Interest and Prices
Fischer, Stanley - 2021
Twenty five years after the publication of the second edition, this paper describes and evaluates the Contributions to monetary and macroeconomics made in Don Patinkin's Money, Interest, and Prices (MIP). Its first accomplishment was to settle definitively many issues, such as the valid and...
Persistent link: https://www.econbiz.de/10013230788
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Relative Price Variability and Inflation : Evidence from Us Cities
Debelle, Guy; Lamont, Owen A. - 2021
We test whether the time-series positive correlation of inflation and intermarket relative price variability is also … higher than average inflation also have higher than average relative price dispersion, ceteris paribus. This result holds for … part of the relationship between inflation and relative price variability cannot be explained by monetary factors …
Persistent link: https://www.econbiz.de/10013227505
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Inflation and the Fiscal Limit
Davig, Troy - 2010
a burst of inflation that devalues the existing nominal debt stock. The probability of this outcome places upward … pressure on inflation expectations and poses a substantial challenge to a central bank pursuing an inflation target. The … distribution of outcomes for the path of future inflation has a fat right tail, revealing that only a small set of outcomes imply …
Persistent link: https://www.econbiz.de/10013136559