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Politicians and scientists have a strong interest in reliable regional and international comparisons of productivity, income, wages, and social benefits. Such comparisons require meaningful indicators of the regional and international price levels. The computation of such indicators utilizes...
Persistent link: https://www.econbiz.de/10010994202
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In recent years, New Keynesian dynamic stochastic general equilibrium (NK DSGE) models have become increasingly popular in the academic literature and in policy analysis. However, the success of these models in reproducing the dynamic behavior of an economy following structural shocks is still...
Persistent link: https://www.econbiz.de/10005264045
We define the plutocratic bias as the difference between inflation measured according to the current official CPI and a democratic index in which all households receive the same weight. We estimate that during the 1990s the plutocratic bias in Spain amounts to 0.055 percent per year. However,...
Persistent link: https://www.econbiz.de/10005264149
The resumption of capital flows to emerging market economies since mid 2009 has posed two sets of interrelated challenges for policymakers: (i) to prevent capital flows from exacerbating overheating pressures and consequent inflation, and (ii) to minimize the risk that prolonged periods of easy...
Persistent link: https://www.econbiz.de/10009293772
This paper presents the primary institutions and economic policies that have led to Chile’s remarkable record of stability and growth over the past twenty years. The core of this policy stance is the combination of fiscal discipline and an open trade policy regime, together with carefully...
Persistent link: https://www.econbiz.de/10005767351
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This paper looks at rural infrastructure facilities in India, the lack of which is demonstrated to be an impediment to …
Persistent link: https://www.econbiz.de/10008543097
This paper re-emphasizes the importance of price stability as a tool for macroeconomic policy and make it more specific by considering a typically (unanticipated) advantage of stabilizing the Consumer Price Index (CPI). I briefly review the recent economic growth performance of the Indian...
Persistent link: https://www.econbiz.de/10008861942
India has experienced persistently high inflation in recent years, despite a period of below-trend economic growth. As … India are the wholesale price index (WPI) and the consumer price index (CPI). Although the WPI has traditionally been the … most widely used measure for assessing inflationary pressures, the Reserve Bank of India (RBI) recently conducted a review …
Persistent link: https://www.econbiz.de/10011129956