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inflation and output dynamics in the United States. In particular, I find that real money balance effects are quantitatively …
Persistent link: https://www.econbiz.de/10003933293
output and inflation, as observed in a vectorautoregression analysis. In contrast to backward indexation to past inflation …, which is often assumed in the literature, sticky information leads to a hump-shaped response in the inflation of flexibly …
Persistent link: https://www.econbiz.de/10011517128
containing information on real economic activity, inflation, interest rates and Divisia monetary aggregates produces the most …
Persistent link: https://www.econbiz.de/10010401309
Macroeconomists have traditionally ignored the behavior of temporary price markdowns ("sales") by retailers. Although sales are common in the micro price data, they are assumed to be unrelated to macroeconomic phenomena and generally filtered out. We challenge this view. First, using the 1996 -...
Persistent link: https://www.econbiz.de/10010418254
inflation dynamics that resemble the missing disinflation of that period. …
Persistent link: https://www.econbiz.de/10013169236
-industry-specific Phillips curves for each decade by relating the growth rate of output prices to lagged inflation and an employment gap. We then … represent the sensitivity of inflation to economic slack. We measure globalization by increases in trade and financial …
Persistent link: https://www.econbiz.de/10012822142
In this paper, the authors propose a measure of underlying inflation for Canada obtained from estimating a monthly … distort the signal in many other measures of underlying inflation, and appears to capture price movements that are indicative … measures of underlying inflation monitored by the Bank of Canada. …
Persistent link: https://www.econbiz.de/10010188184
by the announcement of inflation targeting in 1991 when estimating the effects of monetary policy. For instance, we find …
Persistent link: https://www.econbiz.de/10011777945
This paper examines the contribution of several supply factors to US headline inflation since the start of the COVID-19 … contributors to the US inflation during the pandemic. In contrast, labor shortages only mildly contribute to inflation, but their … inflation only towards the middle of 2022. Finally, our analysis, which also allows the identification of monetary policy and …
Persistent link: https://www.econbiz.de/10014253750
price effects-mainly on gasoline prices-and that broader consumer price index inflation is also temporarily affected. In …
Persistent link: https://www.econbiz.de/10013482484