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Fast Micro and Slow Macro : Can Aggregation Explain the Persistence of Inflation?
Altissimo, Filippo - 2007
An aggregation exercise is proposed that aims at investigating whether the fast average adjustment of the disaggregate inflation series of the euro area CPI translates into the slow adjustment of euro area aggregate inflation. We first estimate a dynamic factor model for 404 inflation...
Persistent link: https://www.econbiz.de/10012730624
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Fast Micro and Slow Macro : Can Aggregation Explain the Persistence of Inflation?
Mojon, Benoit - 2007
An aggregation exercise is proposed that aims at investigating whether the fast average adjustment of the disaggregate inflation series of the euro area CPI translates into the slow adjustment of euro area aggregate inflation. We first estimate a dynamic factor model for 404 inflation...
Persistent link: https://www.econbiz.de/10012777732
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Inflation Bias after the Euro : Evidence from the UK and Italy
Marini, Giancarlo; Piergallini, Alessandro; … - 2010
Harmonized Index of Consumer Prices for the UK and Italy. Our empirical results show that there is no significant evidence for a … bias in the UK, nor for Italy prior to the introduction of the Euro. Since January 2002, however, the inflation rate in … Italy has been underestimated by at least 6 percentage points …
Persistent link: https://www.econbiz.de/10014069180
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Essays on international macroeconomics and conflict analysis
Bhattacharya, Prasad S. - 2005
Persistent link: https://www.econbiz.de/10003553273
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Search Intensity, Cost of Living and Local Labor Markets in Britain
Patacchini, Eleonora; Zenou, Yves - 2021
A model is considered in which optimal search intensity is a result of a tradeoff between short-run losses due to higher search costs (more interviews, commuting...) and long-run gains due to a higher chance of finding a job. We show that this optimal search intensity is higher in areas...
Persistent link: https://www.econbiz.de/10013319936
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The fiscal theory of the price level : identification and testing for the UK in the 1970s
Fan, Jingwen; Minford, Patrick; Ou, Zhirong - 2013
We investigate whether the Fiscal Theory of the Price Level (FTPL) can explain UK inflation in the 1970s. We confront the identification problem involved by setting up the FTPL as a structural model for the episode and pitting it against an alternative Orthodox model; the models have a reduced...
Persistent link: https://www.econbiz.de/10010202214
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The role of fiscal policy in Britain's great inflation
Fan, Jingwen; Minford, Patrick; Ou, Zhirong - 2014
We investigate whether the Fiscal Theory of the Price Level (FTPL) can explain UK inflation in the 1970s. We confront the identification problem involved by setting up the FTPL as a structural model for the episode and pitting it against an alternative Orthodox model; the models have a reduced...
Persistent link: https://www.econbiz.de/10010413736
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The Shocks Matter : Improving Our Estimates of Exchange Rate Pass-Through
Forbes, Kristin J. - 2015
A major challenge for monetary policy has been predicting how exchange rate movements will impact inflation. We propose a new focus: incorporating the underlying shocks that cause exchange rate fluctuations when evaluating how these fluctuations “pass-through” into import and consumer...
Persistent link: https://www.econbiz.de/10013011869
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The Shocks Matter : Improving Our Estimates of Exchange Rate Pass-Through
Forbes, Kristin J. - 2015
A major challenge for monetary policy has been predicting how exchange rate movements will impact inflation. We propose a new focus: incorporating the underlying shocks that cause exchange rate fluctuations when evaluating how these fluctuations ‘pass through' into import and consumer prices....
Persistent link: https://www.econbiz.de/10013012158
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Using structural balance data to test the fiscal theory of the price level : some international evidence
Creel, Jérôme; Le Bihan, Hervé - In: Journal of macroeconomics 28 (2006) 2, pp. 338-360
Persistent link: https://www.econbiz.de/10003331934