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estimation method. According to the estimates obtained, the dynamics of inflation in Russia depends on external factors, in … inflation has undergone several significant changes. The first change is associated with the transition to the inflation …
Persistent link: https://www.econbiz.de/10014350106
The purpose of this study is to analyze the relationship between unit labor costs and inflation. We estimate an optimal …
Persistent link: https://www.econbiz.de/10008873439
due to nominal rigidities, drives the dynamics of inflation relative to expected inflation and lagged inflation. This … paper exploits the empirical success of the New Keynesian Phillips curve in explaining China's inflation dynamics with a new …, based on a multivariate dynamic model featuring distinct interactions among inflation, money, and real output in China. The …
Persistent link: https://www.econbiz.de/10010577098
from disturbances to the money market, the variance of output is shown to be an increasing function of the trend inflation … inflation rate. When both disturbances are significant, there exists, in general, a critical non-zero trend inflation rate that …
Persistent link: https://www.econbiz.de/10005504650
, to assess the Phillips curve's ability to explain inflation dynamics over a wide variety of circumstances, over the 150 … years of the country's history. In Italy, the relation linking inflation with the cyclical situation in the economy emerged …
Persistent link: https://www.econbiz.de/10013084368
hybrid NKPC parameters. The results advocate that a statistically significant relationship between inflation and the domestic … economies. In the environment of low inflation, the fading relationship between the price dynamics and the adjustments in the … flatten as the inflation's sensitivity with respect to changes in economic slack diminishes. That notwithstanding, the impact …
Persistent link: https://www.econbiz.de/10012987465
The frequencies at which prices and wages are adjusted, interpreted as price and wage flexibility, are key elements in workhorse models used for policy analysis. Yet, there is little evidence regarding the relationship between these two sources of nominal rigidities. Using two large and highly...
Persistent link: https://www.econbiz.de/10012391140
This paper examines the effects of policy rate announcements on households' inflation expectations over the time period … in the policy rate on inflation expectations is significant and positive. According to the New-Keynesian model, the … information on the direction of future inflation. Given the sizeable weight of housing costs in the Swedish CPI basket, the …
Persistent link: https://www.econbiz.de/10012207259
information stickiness. We find evidence that agents update information faster when inflation is higher. … inflation. In terms of the sticky information theory, this environment may provide few incentives for agents to update … information on inflation and then a new slope of the sticky information Phillips curve should be observed. We estimate the degree …
Persistent link: https://www.econbiz.de/10010900654
The original Keynesian paradigm differs from the Neoclassical Synthesis and even more so from the New-Keynesian approach. In this paper, a modern framework for the original Keynesian paradigm is presented. It will highlight the key elements of the paradigm. A model is developed to determine...
Persistent link: https://www.econbiz.de/10009756278