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The objective of this paper is to analyze the main theoretical arguments for the analysis of the conduction of monetary policy on the fiscal side. Besides this, an analysis is made of the possible effects on the fiscal balance from the conduction of the monetary policy in the search for price...
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to the anticipated changes in the rate of inflation. The analysis is carried out with monthly data for the period 1980 …-97 for three countries with recent histories of chronic high inflation: Argentina, Brazil, and Mexico. A co …-integration analysis has provided evidence of a stable long-run equilibrium relationship between nominal interest rates and the inflation …
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This paper tests Phillips curves using an autoregressive distributed lag (ADL) specification that encompasses the New Keynesian Phillips curve (NKPC), the Hybrid Phillips curve (HPC), the Sticky-Information Phillips curve (SIPC), and the accelerationist Phillips curve (APC). We use data from...
Persistent link: https://www.econbiz.de/10011372176
variables. These results cast some doubts about the ability of the Phillips curve to describe the dynamics of inflation in the …
Persistent link: https://www.econbiz.de/10011372339
study, the following are more remarkable. Firstly, the inflationary inertia and expectation of inflation are important … variables for the dynamic of inflation although the relevance of expectation seems to be more relevant in a more recent period … that the sum of coefficients of lagged inflation and expectation of inflation is equal to unity. Thirdly, the effect of …
Persistent link: https://www.econbiz.de/10010330593