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rigidity during a period of a runaway inflation, when the annual inflation rate was in the range of 60%-430%. Surprisingly, we … price adjustments even in a period of a runaway inflation, when 85 percent of the prices change every month. …
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Inflation is painful, for firms, customers, employees, and society. But careful study of periods of hyperinflation …
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The failure to predict the surge in inflation in 2021 raises questions about whether we are better equipped to … anticipate a future decline in inflation. What tools do we intend to use for predicting the trajectory of inflation? Are we still … primarily relying on survey data regarding inflation expectations, and are we still employing a Calvo-type structure to model …
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The paper explains the observed asymmetric inflation response to value-added tax (VAT) changes in Hungary by … inflation and forward-looking firms, thereby it provides direct evidence to the argument of Ball and Mankiw (1994). -- Menu Cost … ; Inflation Asymmetry ; Sectoral Heterogeneity ; Value-Added Tax …
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