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/depreciations and inflation by estimating nonlinear time series models. Motivated by theoretical and empirical results in the literature …-through regimes depending upon the magnitude of appreciations of a currency and inflation rates both in the short-run and in the long …
Persistent link: https://www.econbiz.de/10010273645
pronounced increase of aggregate US producer price inflation. …
Persistent link: https://www.econbiz.de/10011430113
periods, and remains low. Whereas pass-through effects where high and close to 1 in the high-inflation period, they seem to … Industrialization (ISI) period of the 1950s and 1960s. Conventional results suggests that low and stable inflation environments lead to … rates in order to control the exchange rate. This paper suggests that 'fear of inflation' provides justification for the …
Persistent link: https://www.econbiz.de/10010288059
Correlations of inflation with the growth rate of money increase when data are averaged over longer time periods …. Correlations of inflation with the growth of money also are higher when high-inflation as well as low-inflation countries are … included in the analysis. We show that serial correlation in the underlying inflation rate ties these two observations together …
Persistent link: https://www.econbiz.de/10010292328
This paper examines the long-run effects of supply shocks (such as oil shocks) on inflation in the United States. The … persistence of supply shocks in U.S. inflation fell considerably during the period of Volcker's disinflation (1979-1982). My … the behavior of inflation expectations-agents expected shocks to persist in the pre-Volcker period, but not in the post …
Persistent link: https://www.econbiz.de/10010293489
Economists have long emphasized the importance of expectations in determining macroeconomic outcomes Yet there has been almost no recent effort to model actual empirical expectations data; instead macroeconomists usually simply assume expectations are rational This paper shows that while...
Persistent link: https://www.econbiz.de/10010293441
explaining the deviations of household inflation and unemployment expectations from the rational expectations benchmark … demographic groups have sharply different predictions for macroeconomic aggregates like the inflation rate …
Persistent link: https://www.econbiz.de/10010293481
If firms borrow working capital to finance production, then nominal interest rates have a direct influence on inflation … empirical importance in explaining inflation dynamics in the US and in the euro area. …
Persistent link: https://www.econbiz.de/10010294872
In this paper we evaluate the relative influence of external versus domestic inflation drivers in the 12 new European … well supported in the new EU member states. We also find that the inflation process is dominated by domestic variables in …
Persistent link: https://www.econbiz.de/10010294894
Time series regressions indicate that age structure has significant forecasting power on Swedish inflation. The results … corresponding to the stipulated inflation target. The age model is also considerably better than the consensus forecasts and it is …
Persistent link: https://www.econbiz.de/10010321784