We examine how poor macroeconomic performance, mainly in the role of high rates of inflation, affected earnings inequality in the 1980s and early 1990s in Brazil. The results based initially on aggregate time-series, and then on the relatively novel sub-national panel time-series data and...

While the risk return trade-off theory suggests a positive relationship between the expected return and the conditional volatility, the volatility feedback theory implies a channel that allows the conditional volatility to negatively affect the expected return. We examine the effects of the risk...

This paper employs symmetric GARCH models to investigate the volatility on the Romanian and American stock markets. We consider two empiric time series from each market, consisting in daily logarithmic returns. For Bucharest Stock Exchange, we include the composite index BET-C and TLV...

This study analyzes core inflation concept for Turkey from the perspective of design and evaluation. To our best knowledge, this is the first study to evaluate the performance of the core inflation measures for Turkey. We first define and calculate new core inflation indicators using the...

This paper develops an inflation persistence model and provides theoretical arguments that low inflation persistence may be achieved either by a central bank reform or by a hard pegging exchange rate vis-\`{a}-vis a low inflation country. Our theoretical analysis states that both the decrease in...

Bu çalışmada makroekonomik değişkenlerden beklenen enflasyon ve üretimdeki büyümenin borsa getirisi ve oynaklığı üzerindeki etkisi Istanbul Menkul Kıymetler Borsası için incelenmiştir. İnceleme genel olarak tüm borsayı kapsamanın yanı sıra özel olarak endüstri ve finans...

This paper applies the methodology of Markov-switching models to describe the inflation process in Australia in the period since the early 1960s. In contrast to conventional modelling, the approach makes explicit allowance for the possibility of structural change: inflation is modelled within a...

This paper examines price and inflation convergence between three European countries (Italy, Spain and the U.K.) and a European average and, alternatively, between them and Germany from the beginning of the 80's.

Cointegration analysis is applied to investigate the long run relationships between money, prices, and wages in Norway. Broad money is determined endogenously, and monetary balances were exposed to large shocks during the period of financial deregulation in the midst of the 1980s. In the long...

It is standard to model the output-inflation trade-off as a linear relationship with a time-invariant slope. We assess empirical evidence for three types of nonlinearity in the short-run Phillips curve. At an empirical level, we aim to discover why large negative output gaps in Japan during the...