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The purpose of this article is to show that access to indexed assets during the high inflation regime (1990-1993) was …
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up in the following: i) the pass-through to the next month inflation is around 0.04 percentage points (p.p.) (0.48 p ….p. over the annualized inflation); ii) a shock on the unemployment rate lasts for 18 months; iii) a shock on the expectations … are carried to the next month inflation (0.58 p.p. over the annualized inflation); and iv) a shock on the inflation rate …
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) restrictions over the sum of the coefficients associated with inflation; b) the coefficient associated to the expectation of … inflation is greater than the coefficient associated with past inflation (which is in contrast with previous studies to the … determinants of current inflation. …
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up in the following: i) the pass-through to the next month inflation is around 0.04 percentage points (p.p.) (0.48 p ….p. over the annualized inflation); ii) a shock on the unemployment rate lasts for 18 months; iii) a shock on the expectations … are carried to the next month inflation (0.58 p.p. over the annualized inflation); and iv) a shock on the inflation rate …
Persistent link: https://www.econbiz.de/10009553780
) restrictions over the sum of the coefficients associated with inflation; b) the coefficient associated to the expectation of … inflation is greater than the coefficient associated with past inflation (which is in contrast with previous studies to the … determinants of current inflation. …
Persistent link: https://www.econbiz.de/10009273892
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...
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variables. These results cast some doubts about the ability of the Phillips curve to describe the dynamics of inflation in the …
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