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Government deficits, wealth effects and the price level in an optimizing model

Annicchiarico, Barbara - 2003

This paper investigates the in inflationary effects of fscal policy in an optimizing general equilibrium monetary model with capital accumulation, exible prices and wealth effects. The model is calibrated to Euro Area quarterly data. Simulation results show that government defcits, high debt...

Persistent link: https://www.econbiz.de/10009635879

Forecasting euro area inflation

Hubrich, Kirstin - 2003

Monitoring and forecasting price developments in the euro area is essential in the light of the second pillar of the ECBu0092s monetary policy strategy. This study analyses whether the forecasting accuracy of forecasting aggregate euro area inﬂation can be improved by aggregating forecasts of...

Persistent link: https://www.econbiz.de/10009635954

A markup model of inflation for the euro area

Bowdler, Christopher; Jansen, Eilev S. - 2004

Equilibrium correction models of the price level are often used to model inflation. Such models assume that the long …

Persistent link: https://www.econbiz.de/10009636529

Fiscal policy and inflation volatility

Rother, Philipp C. - 2004

Among the harmful effects of inflation, the negative consequences of inflation volatility are of particular concern … inflation volatility. Major results are robust for unconditional and conditional inflation volatility, the latter derived from …

Persistent link: https://www.econbiz.de/10009636540

Is inflation persistence intrinsic in industrial economies?

Levin, Andrew T.; Piger, Jeremy M. - 2004

We apply both classical and Bayesian econometric methods to characterize the dynamic behavior of inflation for twelve … 1990s. Allowing for a break in intercept, the inflation measures generally exhibit relatively low inflation persistence …. Evidently, high inflation persistence is not an inherent characteristic of industrial economies. …

Persistent link: https://www.econbiz.de/10009636705

Has euro-area inflation persistence changed over time?

O'Reilly, Gerard; Whelan, Karl - 2004

This paper analyzes the stability over time of the econometric process for Euro-area in nation since 1970, focusing in particular on the behaviour of the so-called persistence parameter (the sum of the coeffcients on the lagged dependent variables). Perhaps surprisingly, in light of the Lucas...

Persistent link: https://www.econbiz.de/10009636706