Narrow search
Showing 1 - 10 of 4,667
Cover Image
The cyclical relationship between output and prices: an analysis in the frequency domain
Pakko, Michael R. - Federal Reserve Bank of St. Louis - 1997
Recent research showing negative correlations between detrended output and prices during the postwar period has brought … into question the conventional wisdom that prices are procyclical. However, this finding has been shown to be sensitive to … the sample period considered. This paper examines the relationship between output and prices in the frequency domain …
Persistent link: https://www.econbiz.de/10005360577
Cover Image
Aggregate price shocks and financial instability: a historical analysis
Bordo, Michael D.; Dueker, Michael J.; Wheelock, David C. - Federal Reserve Bank of St. Louis - 2001
This paper presents empirical evidence on the hypothesis that aggregate price disturbances cause or worsen financial distress. We construct two annual indexes of financial conditions for the United States covering 1790-1997, and estimate the effect of aggregate price shocks on each index using a...
Persistent link: https://www.econbiz.de/10005360618
Cover Image
A conference on price stability
Carlstrom, Charles T.; Gavin, William T. - In: Economic Review (1991) Q IV, pp. 2-9
A discussion of six papers presented at the Federal Reserve Bank of Cleveland's Conference on Price Stability in November 1990, focusing on how recent developments in macroeconomic research have changed perceptions about optimal inflation policy.
Persistent link: https://www.econbiz.de/10005360789
Cover Image
Strategy an tactics of monetary policy: examples from Europe and the Antipodes
Goodhart, Charles A. E.; Vinals, Jose - In: Conference Series ; [Proceedings] 38 (1994), pp. 139-194
Persistent link: https://www.econbiz.de/10005361358
Cover Image
Does inflation targeting anchor long-run inflation expectations? evidence from long-term bond yields in the U.S., U.K., and Sweden
Gürkaynak, Refet S.; Levin, Andrew T.; Swanson, Eric T. - Federal Reserve Bank of San Francisco - 2006
We investigate the extent to which inflation targeting helps anchor long-run inflation expectations by comparing the behavior of daily bond yield data in the United Kingdom and Sweden--both inflation targeters--to that in the United States, a non-inflation-targeter. Using the difference between...
Persistent link: https://www.econbiz.de/10005361530
Cover Image
Sluggish responses of prices and inflation to monetary shocks in an inventory model of money demand
Alvarez, Fernando; Atkeson, Andrew; Edmond, Chris - Federal Reserve Bank of Minneapolis - 2008
We examine the responses of prices and inflation to monetary shocks in an inventory-theoretic model of money demand. We …
Persistent link: https://www.econbiz.de/10005367677
Cover Image
Tradeoffs between inflation and output-gap variances in an optimizing-agent model
Erceg, Christopher J.; Henderson, Dale W.; Levin, Andrew T. - Federal Reserve Board (Board of Governors of the … - 1998
the special case in which prices are sticky and wages are perfectly flexible. When the model is calibrated to exhibit an …
Persistent link: https://www.econbiz.de/10005368225
Cover Image
Price level convergence, relative prices, and inflation in Europe
Rogers, John H. - Federal Reserve Board (Board of Governors of the … - 2001
If price levels are initially different across the euro area, convergence to a common level of prices would imply that … inflation will be higher in countries where prices are initially low. Price level convergence thus provides a potential … between 1990 and 1999 prices did become less dispersed in the euro area. Convergence is especially evident for traded goods …
Persistent link: https://www.econbiz.de/10005368283
Cover Image
Optimal monetary policy with distinct core and headline inflation rates
Bodenstein, Martin; Erceg, Christopher J.; Guerrieri, Luca - Federal Reserve Board (Board of Governors of the … - 2008
In a stylized DSGE model with an energy sector, the optimal policy response to an adverse energy supply shock implies a rise in core inflation, a larger rise in headline inflation, and a decline in wage inflation. The optimal policy is well-approximated by policies that stabilize the output gap,...
Persistent link: https://www.econbiz.de/10005368420
Cover Image
The effects of stochastic inflation on asset prices
Labadie, Pamela A. - Federal Reserve Bank of Minneapolis - 1988
Stochastic inflation affects the risk characteristics, measured by the equity premium and the correlation of the equity’s return with consumption, in a fundamental way. The riskiness of a dollar-denominated asset depends on two conditional covariances: the covariance of the marginal rate of...
Persistent link: https://www.econbiz.de/10005372834