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This paper presents evidence on the persistence of inflation in the United States over the period 1947- 2010. Of … particular interest is whether the persistence of inflation has changed over that time period. We use a reduced form approach to … measuring inflation persistence, modeling inflation as an autoregressive process. We measure persistence as the half-life of a …
Persistent link: https://www.econbiz.de/10010878555
This paper proposes a measure of real-time inflation expectations based on metadata, i.e., data about data, constructed … from internet search queries performed on the search engine Google. The forecasting performance of the Google Inflation … Search Index (GISI) is assessed relative to 37 other indicators of inflation expectations – 36 survey measures and the TIPS …
Persistent link: https://www.econbiz.de/10009647210
, however, show that the explanatory content of the SVAR measure with regard to the acceleration of inflation exceeds that of …
Persistent link: https://www.econbiz.de/10005062995
unemployment-inflation tradeoff might indicate not something to be exploited but instead only policy-makers' correctly …
Persistent link: https://www.econbiz.de/10005067633
We test for fractional dynamics in CPI-based inflation rates for twenty-seven countries and WPI-based inflation rates …-based inflation rates for industrial as well as developing countries. Implications of the findings are considered and sources of long …
Persistent link: https://www.econbiz.de/10005102697
Using a recently introduced nonparametric test, I investigate two important and distinct asymmetries in cross-country quarterly macroeconomic time series. Asymmetries are suggested by many theories (old and new), and those discovered aid in the selection of the appropriate nonlinear time series...
Persistent link: https://www.econbiz.de/10005412800
A fresh interpretaion is provided of the influential finding that the markup of prices over marginal costs is counter-cyclical. Using Rotemberg and Woodford's data set we argue that the markup is best modelled as a variable that is integrated of order one. A consequence of this finding is that...
Persistent link: https://www.econbiz.de/10005744315
variable for Swedish inflation than the output gap. However, standard errors in the estimations are large and it is in fact … difficult to pin down a statistically significant relationship between either real marginal cost or the output gap and inflation. …
Persistent link: https://www.econbiz.de/10005649071
by movements in inflation and the business cycle. Consequently, based on our data, we find little evidence of a pro …
Persistent link: https://www.econbiz.de/10005697713
as an Okun Law type relationship; and the New Phillips curve linking inflation to output gap. We estimated two models …
Persistent link: https://www.econbiz.de/10010678162