Showing 1 - 10 of 2,095
In this paper, we examine how economic shocks affect the distribution of household inflation expectations. We show that … the dynamics of households' expected inflation distributions are driven by three distinctive functional shocks, which … influence the expected inflation distribution through disagreement, level shift and ambiguity. Linking these functional shocks …
Persistent link: https://www.econbiz.de/10014079902
This paper reviews the post-Keynesian theory of inflation against the background of the simultaneous rise in inflation …-are discussed. The paper applies the latter to elucidate recent inflation trends propelled by increasing imported energy prices and … then rising mark-ups. The effects of inflation-targeting central bank interest policies versus a post-Keynesian alternative …
Persistent link: https://www.econbiz.de/10014437285
How strong are strategic complementarities in price setting across firms? In this paper, we provide a direct empirical estimate of firms' price responses to changes in prices of their competitors. We develop a general framework and an empirical identification strategy to estimate the...
Persistent link: https://www.econbiz.de/10011538001
How strong are strategic complementarities in price setting across firms? In this paper, we provide a direct empirical estimate of firms' price responses to changes in prices of their competitors. We develop a general framework and an empirical identification strategy to estimate the...
Persistent link: https://www.econbiz.de/10011446483
correction methodology, the paper found the exchange rate pass-through into Nigeria's CPI inflation to be incomplete. The long …
Persistent link: https://www.econbiz.de/10011460225
The article provides estimates of short-run and medium-run exchange rate pass-through into domestic prices in Russia during the period of 2000–2012 using vector error correction model. Exchange rate pass-through asymmetry estimates, its assessments on different sub-periods and exchange rate...
Persistent link: https://www.econbiz.de/10011398366
Determining the exchange rate pass-through on inflation is a necessity for central banks as well as for firms and … short and long-term impact of an exchange rate shock on inflation along the distribution chain in the presence of … have showed that the accumulated PT on inflation of import prices rises from 20% in the first month of the exchange rate …
Persistent link: https://www.econbiz.de/10011554700
economies, we find that the main driver of consumer price inflation is the global demand shock. A negative global demand shock …
Persistent link: https://www.econbiz.de/10012176017
This paper decomposes the time-varying effect of exogenous exchange rate shocks on euro area countries in ation into country-specific (idiosyncratic) and region-wide (common) components. To do so, we propose a exible empirical framework based on dynamic factor models subject to drifting...
Persistent link: https://www.econbiz.de/10012181317
This paper investigates the impact of fiscal shocks on inflation, using a large panel of 139 countries over the period … 1970–2021. First, both headline and core measures of inflation increase in response to expansionary shifts in the fiscal … with care in aggregate demand management as it has significant effects on inflation, which are highly dependent on fiscal …
Persistent link: https://www.econbiz.de/10014354525