Showing 1 - 10 of 96
This paper provides an empirical investigation into the determinants and stability of the aggregate wage inflation process in the United States over the 1967-2000 period. Using compensation per hour as the measure of wages, we specify a Phillips curve model that links wage growth to its past...
Persistent link: https://www.econbiz.de/10010283324
Persistent link: https://www.econbiz.de/10012130450
Is the observed correlation between current and lagged inflation a function of backward-looking inflation expectations, or do the lags in inflation regressions merely proxy for rational forward-looking expectations, as in the new-Keynesian Phillips curve? Recent research has attempted to answer...
Persistent link: https://www.econbiz.de/10011269277
This paper presents a re-formulated version of a canonical sticky-price model that has been extended to account for variations over time in the central bank's inflation target. We derive a closed-form solution for the model, and analyze its properties under various parameter values. The model is...
Persistent link: https://www.econbiz.de/10011269503
Persistent link: https://www.econbiz.de/10013407390
Persistent link: https://www.econbiz.de/10010334716
prices of most consumer goods. They are the main interface between producers of consumer goods and consumers, with around … substantial, as this accounts for, on average, about 25% of consumer prices. The purpose of this report is to analyse the … structural features of the distributive trades sector and the developments within it, as well as how these may influence prices …
Persistent link: https://www.econbiz.de/10011606280
Emerging market and developing economies (EMDEs) have experienced an extraordinary decline in inflation since the early 1970s. After peaking in 1974 at 17.3 percent, inflation in these economies declined to 3.5 percent in 2017. Despite a checkered history of managing inflation among many EMDEs,...
Persistent link: https://www.econbiz.de/10012060219
This thesis explores whether scanner data can be used to inform Consumer Price Index (CPI) construction, with particular reference to the issues of substitution bias and choice of aggregation dimensions. The potential costs and benefits of using scanner data are reviewed. Existing estimates of...
Persistent link: https://www.econbiz.de/10009484217
significantly higher contribution to the growth in consumer prices in Spain than in the euro area in the last year, owing to the …
Persistent link: https://www.econbiz.de/10013369441