Similar Search Results

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

Fast Micro and Slow Macro : Can Aggregation Explain the Persistence of Inflation?

Altissimo, Filippo - 2007

Persistent link: https://www.econbiz.de/10012730624

Sectoral shocks and monetary policy in the United Kingdom

Dixon, Huw; Franklin, Jeremy; Millard, Stephen Patrick - 2021

In this paper, we examine the extent to which monetary policy should respond to movements in sectoral inflation rates. To do this we construct a Generalised Taylor model that takes specific account of the sectoral make-up of the consumer price index (CPI). We calibrate the model for each sector...

Persistent link: https://www.econbiz.de/10012591789

A New Method for Measuring Welfare with Income Effects using Cross-Sectional Data

Baqaee, David; Burstein, Ariel T.; Koike-Mori, Yasutaka - National Bureau of Economic Research - 2022

We show how to recover the money-metric utility function, which converts income at one point in time into equivalent income at another point in time, using repeated cross-sectional household data. Our procedure allows unrestricted preferences, but requires that households' preferences be the...

Persistent link: https://www.econbiz.de/10013435111

Financial determinants of consumer price inflation : what do dynamics in money, credit, efficiency and size tell us?

Asongu, Simplice A. - 2012

past few years. Design/methodology/approach - The estimation approach used is a Two-Stage-Least Squares Instrumental … justifying the choice of the estimation approach with a Hausman-test for endogeneity. In the second-step, we verify that the …) estimation with robust Heteroscedasticity and Autocorrelation Consistent (HAC) standard errors; and (3) adoption of two …

Persistent link: https://www.econbiz.de/10011410073

The pass-through of exchange rate in the context of the European sovereign debt crisis

Cheikh, Nidhaleddine Ben; Rault, Christophe - 2015

This paper investigates whether exchange rate pass-through (ERPT) into import prices is a nonlinear phenomenon for five heavily indebted Euro area countries, namely the so-called GIIPS group (Greece, Ireland, Italy, Portugal, and Spain). Using logistic smooth transition models, we explore the...

Persistent link: https://www.econbiz.de/10011376318

The pass-through of exchange rate in the context of the European sovereign debt crisis

Cheikh, Nidhaleddine Ben; Rault, Christophe - 2015

Persistent link: https://www.econbiz.de/10011346864

Inflation persistence and price dynamics in Macedonia : theory and empirical analysis

Petrovska, Magdalena; Ramadani, Gani - Narodna Banka na Republika Makedonija; Narodna Banka na … - 2010

We apply classical econometric method to characterize the dynamic behavior of the quarter-on-quarter inflation over the period 1997q1-2010q1. In particular, we estimate univariate autoregressive (AR) models for the aggregate consumer price inflation series and as well as for the consumer price...

Persistent link: https://www.econbiz.de/10011623303

The exchange rate pass-through to CPI and its components in oil-Exporting CIS countries

Rahimov, Vugar; Jafarova, Nigar; Ganbarov, Fuad - 2017

In this study, we explore the pass-through of exchange rate fluctuations to domestic CPI and its components for Azerbaijan, Kazakhstan and Russia. Using the data of 2003:Q1- 2016:Q2, we estimate a VAR model and find significant but incomplete pass-through in all sample countries. The accumulated...

Persistent link: https://www.econbiz.de/10011606105

Inflation, markups and monetary policy

Jonsson, Magnus; Palmqvist, Stefan Ulf - 2003

The correlation between persistent changes in the markup in one sector of an economy and the inflation rate is quantified in a 2-sector dynamic general equilibrium model. How this relationship is affected by monetary policy is also studied. We find that the correlation is in general positive...

Persistent link: https://www.econbiz.de/10011585093