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This paper presents evidence from a panel investigation of OECD countries that inflationary pressures tend to be stronger during recovery from financial crises compared to recovery from non-crisis economic downturns, indicating impairment in productive potential.
Persistent link: https://www.econbiz.de/10010594181
This paper presents evidence from a panel investigation of OECD countries that inflationary pressures tend to be stronger during recovery from financial crises compared to recovery from non-crisis economic downturns, indicating impairment in productive potential.
Persistent link: https://www.econbiz.de/10011126125
inflation to rise in the short term. Our results also suggest that the effects on aggregate supply have grown stronger in recent …
Persistent link: https://www.econbiz.de/10011111503
as an Okun Law type relationship; and the New Phillips curve linking inflation to output gap. We estimated two models …
Persistent link: https://www.econbiz.de/10010678162
From 2003, the Indian economy enjoyed a boom in growth coupled with moderate inflation for five years. The economy grew … persistence of inflation in an environment of falling economic growth has come out as a “puzzle” to policymakers’ and many in the … economy. The RBI compounded the problem by being sluggish and soft on inflation after the economy bounced back from the …
Persistent link: https://www.econbiz.de/10011093768
Deutschland ist auf einem guten Weg, seine Neuverschuldung schrittweise abzubauen. Das DIW erwartet bis 2012 eine Reduktion des Defizits auf ungefähr 23 Milliarden Euro. Dies gelingt vor allem, weil die Steuereinnahmen 2011 und 2012 sprudeln und die Sozialausgaben deutlich geringer ausfallen...
Persistent link: https://www.econbiz.de/10009246664
the correlation for the entire period between each of the estimated gaps and three measures of inflation: headline … inflation, nontradables inflation and underlying inflation. The results show that the relationship between the output gap and … the inflation measures is quite weak, which questions its use as a signal of the situation of the economic activity …
Persistent link: https://www.econbiz.de/10010699053
exploits the information contained in the inflation, unemployment and private investment rates in order to estimate non … algorithm. The results suggest that only the inflation rate contains useful information in order to estimate the output gap …
Persistent link: https://www.econbiz.de/10008468252
Multivariate filters based on the Hodrick-Prescott filter are appealing because they combine the advantages of the Hodrick-Prescott filter with economic relationships. Recently, a new multivariate filter has been put forward by Hirose and Kamada (2003). In this article we apply this new filter...
Persistent link: https://www.econbiz.de/10005091277
exploits the information contained in the inflation, unemployment and private investment rates in order to estimate non …-observable variables as output gap, the NAIRU and the core inflation. The unknown parameters are esti- mated by maximun likelihood using a …
Persistent link: https://www.econbiz.de/10005056571