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A nonlinear investigation of the twin deficits hypothesis over the business cycle: Evidence from Turkey
Çatık, Abdurrahman Nazif; Gök, Barış; Akseki, Utku - In: Economic Systems 39 (2015) 1, pp. 181-196
In this paper, we analyze the twin deficits hypothesis covering the period from 1994 to 2012 in Turkey. In contrast to previous studies on Turkey, the existence of twin deficits is investigated by regime-dependent impulse response functions and forecast error variance decompositions based on a...
Persistent link: https://www.econbiz.de/10011263214
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Three Revolutions in Macroeconomics: Their Nature and Influence
Laidler, David - University of Western Ontario, Economic Policy Research … - 2013
Harry Johnson’s 1971 ideas about the factors affecting the success of the Keynesian Revolution and the Monetarist Counter-revolution are summarised and extended to the analysis of the Rational Expectations - New Classical (RE-NC) Revolution. It is then argued that, whereas Monetarism brought...
Persistent link: https://www.econbiz.de/10010835365
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Monetary Policy, the Only Game in Town?
Smaghi, Lorenzo Bini - The MIT Press
Persistent link: https://www.econbiz.de/10010905529
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The Role of the Business Cycle in Exchange Rate Pass-Through: The Case of Finland
Cheikh, Nidhaleddine Ben; Rault, Christophe - William Davidson Institute, University of Michigan - 2014
in ERPT to CPI inflation for the Finnish economy. Within a logistic smooth transition framework, our investigations …
Persistent link: https://www.econbiz.de/10010936534
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Fisher, Macaulay et Allais face au "Paradoxe de Gibson"
Prat, Georges; Durand, Jean-Jacques - EconomiX, Université Paris Ouest-Nanterre la Défense … - 2009
According to the quantitative theory of money, an expansion of the money supply leads both to a decrease of interest rates and an increase of the general level of good prices. This negative correlation expected between these two variables being contradicted by the positive correlation observed...
Persistent link: https://www.econbiz.de/10005078953
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An inflation expectations horserace
Guzman, Giselle C. - Volkswirtschaftliche Fakultät, … - 2010
For decades, the academic literature has focused on three survey measures of expected inflation: the Livingston Survey … models of forecasting inflation, the data are low frequency measures which appear anachronistic in the modern era of high … frequency and real-time data. I present a collection of 37 different measures of inflation expectations, including many …
Persistent link: https://www.econbiz.de/10009647457
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The Price-Level Computation Method
Afriat, Sydney; Milana, Carlo - Dipartimento di Economia Politica e Statistics, … - 2007
It has been submitted that, for the very large number of different traditional type formulae to determine price indices associated with a pair of periods, which are joined with the longstanding question of which one to choose, they should all be abandoned. For the method proposed instead, price...
Persistent link: https://www.econbiz.de/10005704521
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Price-Level Computation: Illustrations
Afriat, Sydney N.; Milana, Carlo - Dipartimento di Economia Politica e Statistics, … - 2007
It has been submitted that, for the very large number of different traditional type formulae to determine price indices associated with a pair of periods, which are joined with the longstanding question of which one to choose, they should all be abandoned. For the method proposed instead, price...
Persistent link: https://www.econbiz.de/10005076163
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Stable price level and changing prices
Suvanto, Antti; Hukkinen, Juhana - EconWPA - 2005
. This was a period of very low inflation. The rate of growth in the aggregate price level was occasionally very close to … inflation. The declining prices cannot, however, be explained by lack of demand or any generalized deflationary tendencies … develops a new method for looking at the composition of inflation and illustrating how relative price dynamics interact with …
Persistent link: https://www.econbiz.de/10005412660
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Stable price level and changing prices
Suvanto, Antti; Hukkinen, Juhana - Suomen Pankki - 2004
. This was a period of very low inflation. The rate of growth in the aggregate price level was occasionally very close to … inflation. The declining prices cannot, however, be explained by lack of demand or any generalized deflationary tendencies … develops a new method for looking at the composition of inflation and illustrating how relative price dynamics interact with …
Persistent link: https://www.econbiz.de/10005648879