Showing 1 - 10 of 21
Persistent link: https://www.econbiz.de/10000868578
Persistent link: https://www.econbiz.de/10000654569
Persistent link: https://www.econbiz.de/10000657563
Persistent link: https://www.econbiz.de/10003649282
Persistent link: https://www.econbiz.de/10003062567
The reduced-form correlation between inflation and measures of real activity has changed substantially for the main developed economies over the post-WWII period. In this paper we attempt to describe the observed inflation dynamics in the United Kingdom, the United States and the euro area with...
Persistent link: https://www.econbiz.de/10003883882
Long-horizon interest rates in the major international bond markets fell sharply during 2004 and 2005, at the same time as US policy rates were rising; a phenomenon famously described as a ‘conundrum' by Alan Greenspan the Federal Reserve Chairman. But it was arguably the decline in...
Persistent link: https://www.econbiz.de/10003883936
In this paper we model the role of open-economy effects within a New Keynesian Phillips Curve (NKPC) via the inclusion of intermediate imports in firms' production technology. Using this framework we provide evidence on two questions: first, does the inclusion of import prices help explain...
Persistent link: https://www.econbiz.de/10003883939
"In aggregate models, costs that penalise changes in investment--investment adjustment costs-- have been introduced to help account for a variety of business cycle and asset market phenomena. In this paper, we evaluate empirical evidence for these types of costs using US and UK industry data. We...
Persistent link: https://www.econbiz.de/10003576723
Persistent link: https://www.econbiz.de/10003396096