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be verified always that exist equal evolution of their variables or for others words, always that inflation and … form and this just happen when inflation and unemployment rates growing for different directions (in the short-run) and … when inflation rate is growing and unemployment doesn't (in the long-run). …
Persistent link: https://www.econbiz.de/10005837539
Previous empirical work that assessed the theoretical results of Lucas (1972) is updated by incorporating recent data, utilizing advancements in time series methods and bootstrapping results. Specifically, the two-stage method of Ball et al. (1988) and others is used, but the functional form...
Persistent link: https://www.econbiz.de/10005839152
The paper examines how relative price shocks can affect the price level and then inflation. Using Indian data we find …: (i) price increases exceed price decreases. Aggregate inflation depends on the distribution of relative price changes-inflation … rates increases inflation, and are significant in estimations of New Keynesian aggregate supply, (iii) an average Indian …
Persistent link: https://www.econbiz.de/10009367278
The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...
Persistent link: https://www.econbiz.de/10010862118
. Several theories of inflation theory are reviewed, with focus on the agencies causing inflation. A rediscovery of Marxian … inflation theory is proposed. …
Persistent link: https://www.econbiz.de/10011193717
. There exists an inflation threshold, below which real wage flexibility is low. We also find that a part of the heterogeneity …
Persistent link: https://www.econbiz.de/10011194164
the reaction of post-Keynesian economists to examine alternatives to inflation-targeting monetary strategies and to Taylor …
Persistent link: https://www.econbiz.de/10011133342
model presents a "price rule" for government spending that ensures that the ELR is not a source of inflation. Indeed, the …
Persistent link: https://www.econbiz.de/10009645847
allows determining if inflation dynamics are likely explained by microeconomic foundations. Additionally, this approach … enables the analysis of price rigidities in the economy. The results suggest that: (1) unit labor costs explain inflation …
Persistent link: https://www.econbiz.de/10008852454
We provide Bayesian estimates of an empirical model of consumer price inflation for Turkey based on the hybrid New … real marginal costs does a better job in explaining consumer price inflation compared to alternative models which … incorporate real unit labor costs. On the other hand, estimations for services inflation point to the importance of real unit …
Persistent link: https://www.econbiz.de/10010941446