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Potential links between inflation, (t), and unemployment, UE(t), in Germany have been examined. There exists a … negative relation between inflation and unemployment with the latter leading the former by one year: UE(t-1) = -1.50(t) + 0 ….116. Effectively, growing unemployment has resulted in decreasing inflation since 1971, i.e. for the period where GDP deflator …
Persistent link: https://www.econbiz.de/10005786895
Beschränkungen in Zeiten einer lockeren Geldpolitik einen erheblichen Inflationsdruck ausüben. …
Persistent link: https://www.econbiz.de/10014466940
Using firm-level survey data from Germany, this paper asks how do supply constraints propagate monetary policy shocks? To answer this question, we first offer a general discussion on the measurement of supply constraints. We show that capacity utilization, a widely accepted measure of...
Persistent link: https://www.econbiz.de/10013540705
estate, as well as the costs of public goods to develop alternative inflation measures in Germany since the introduction of … the euro. Real economic growth as well as median wage developments are reexamined in light of the alternative inflation …
Persistent link: https://www.econbiz.de/10012291889
Using firm-level survey data from Germany, this paper asks how do supply constraints propagate monetary policy shocks? To answer this question, we first offer a general discussion on the measurement of supply constraints. We show that capacity utilization, a widely accepted measure of...
Persistent link: https://www.econbiz.de/10014261028
The present paper uses survey data on expected consumer price developments to analyse the role of inflation … expectations in the inflation process. The survey measures of price expectations are derived from the European Commission … estimates of the New Keynesian inflation model presented here underscore the importance of inflation expectations for the short …
Persistent link: https://www.econbiz.de/10011419361
to real economic developments even as it focuses on an inflation objective. Using monthly data, we show how speeches by … the Bundesbank's President dealing with inflation help explain both interest rate movements as well as the central bank …
Persistent link: https://www.econbiz.de/10014061630
We assess empirically whether monetary policy announcements impact firm expectations. Two features of our data set are key. First, we rely on a survey of production and price expectations of German firms, that is, expectations of actual price setters. Second, we observe the day on which firms...
Persistent link: https://www.econbiz.de/10012159806
We estimate a New Keynesian DSGE model on French, German, Italian, and Spanish data. The main aim of this paper is to check for the respective sets of parameters that are stable over time, making use of the ESS procedure ("Estimate of Set of Stable parameters") developed by Inoue and Rossi...
Persistent link: https://www.econbiz.de/10009571531
In this paper we argue that future inflation in an economy depends on the way people perceive current inflation, their … inflation sentiment. We construct some simple measures of inflation sentiment which capture whether price acceleration is shared … by many components of the CPI basket. In a comparative analysis of the forecasting power of the different inflation …
Persistent link: https://www.econbiz.de/10012722363