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Author : Joseph H. Haslag
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)
Download or read book Cyclical Co-movement Between Output, the Price Level, and Inflation written by Joseph H. Haslag and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : William A. Brock
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)
Download or read book On Understanding the Cyclical Behavior of the Price Level and Inflation written by William A. Brock and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michal Andrle
Publisher : International Monetary Fund
ISBN 13 : 1475569165
Total Pages : 37 pages
Book Rating : 4.4/5 (755 download)
Download or read book Output and Inflation Co-movement written by Michal Andrle and published by International Monetary Fund. This book was released on 2017-01-18 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the drivers of business cycle fluctuations? And how many are there? By documenting strong and predictable co-movement of real variables during the business cycle in a sample of advanced economies, we argue that most business cycle fluctuations are driven by one major factor. The positive co-movement of real output and inflation convincingly argues for a demand story. We propose a simple statistic that can compare data and models. Based on this statistic, we show that the recent vintage of structural economic models has difficulties replicating the stylized facts we document.
Author : Mr.Bankim Chadha
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (318 download)
Download or read book Are Prices Countercyclical? written by Mr.Bankim Chadha and published by International Monetary Fund. This book was released on 1992-10 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the comovement of prices with the cyclical component of output. It argues that determining the cyclical behavior of prices by applying the same stationarity-inducing transformation to the levels of both output and prices, and examining the correlations of the resulting series, can be misleading. A more appropriate procedure is to examine the correlations between the rate of inflation and the level of the cyclical component of output. In post-war U.S. data the correlations between similarly transformed price and output data are consistently and often strongly negative, as reported recently by a number of authors as evidence of countercyclical price behavior. The rate of inflation, however, is consistently and usually strongly positively correlated with various measures of the cyclical component of output.
Author : Michal Andrle
Publisher : International Monetary Fund
ISBN 13 : 1475531206
Total Pages : 26 pages
Book Rating : 4.4/5 (755 download)
Download or read book Inflation and Output Comovement in the Euro Area written by Michal Andrle and published by International Monetary Fund. This book was released on 2013-09-11 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses comovement between inflation and output in the euro area. The strength of the comovement may not be apparent at first sight, but is clear at business cycle frequencies. Our results suggest that at business cycle frequency, the output and core inflation comovement is high and stable, and that inflation lags the cycle in output with roughly half of its variance. The strong relationship of output and inflation hints at the importance of demand shocks for the euro area business cycle.
Author : Dek Terrell
Publisher : Emerald Group Publishing
ISBN 13 : 1781903093
Total Pages : 500 pages
Book Rating : 4.7/5 (819 download)
Download or read book 30th Anniversary Edition written by Dek Terrell and published by Emerald Group Publishing. This book was released on 2012-12-17 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 30th Volume of Advances in Econometrics is in honor of the two individuals whose hard work has helped ensure thirty successful years of the series, Thomas Fomby and R. Carter Hill.
Author : Nir Klein
Publisher : International Monetary Fund
ISBN 13 : 1463902158
Total Pages : 24 pages
Book Rating : 4.4/5 (639 download)
Download or read book South Africa written by Nir Klein and published by International Monetary Fund. This book was released on 2011-08-01 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study looks at the cyclical behavior of the markups and assesses its impact on inflation dynamics. The analysis finds that the aggregate level of the private sector's markup is relatively high, thus pointing to the lack of strong competition in South Africa's product markets. Additionally, the results suggest that the markups tend to move in a countercyclical manner, with a short-term positive impact on inflation. This implies that the countercyclical pattern of the markups is one factor among others that contribute to the relatively weak output gap-inflation co-movement. In the context of South Africa's inflation targeting framework, the counter-cyclical markups may also generate an asymmetric response of monetary policy to the fluctuations in economic activity.
Author : Edward A. Roeger
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (318 download)
Download or read book Investigating a Countercyclical Price Level with Procyclical Inflation written by Edward A. Roeger and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent work of the last 15 years has sought to revaluate what are often thought of as consistent business cycle facts, and one of these in particular is that of procyclical prices. Several publications have found empirical evidence that, counter to widespread acceptance, this cycle fact is not always true, and in the post World War II era prices have indeed been countercyclical. It is the goal of this work to replicate this finding in a set of simulated time series while also keeping inflation procyclical. Furthermore, the simulations show that this occurrence can be produced by moving the simulated time series of the price level out of phase with the output time series. This resulting phase difference can then be adapted to an empirical time frame as a number of quarters that the price level leads output. This process involves calibrating the representative output cycle length in the simulation with a representative output cycle length in empirical data. The conclusion of this study provides a link between the correlation of output and the price level with the phase difference between the cycles of the two variables. Future models could seek to explain this phase difference or operate within the partition suggested in these results.
Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
ISBN 13 : 1451947135
Total Pages : 256 pages
Book Rating : 4.4/5 (519 download)
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1993-01-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relationship between the degree of wage indexation chosen by private agents and the degree of public debt indexation chosen by the government is examined. It is shown that the government is likely to increase public debt indexation in response to an increase in wage indexation. By contrast, higher public debt indexation has an ambiguous effect on wage indexation. In equilibrium, wage and public debt indexation may be positively or negatively related. This relationship is analyzed in situations where the policymakers can precommit to policies and in those they cannot.
Author : Lionello F Punzo
Publisher : Routledge
ISBN 13 : 1134530013
Total Pages : 415 pages
Book Rating : 4.1/5 (345 download)
Download or read book Cycles, Growth and Structural Change written by Lionello F Punzo and published by Routledge. This book was released on 2003-09-02 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume gathers together key new contributions on the subject of the relationship, both empirical and theoretical, between economic oscillations, growth and structural change. Employing a sophisticated level of mathematical modelling, the collection contains articles from, amongst others, William Baumol, Katsuhito Iwai and William Brock.
Author :
Publisher : Springer
ISBN 13 : 1349588024
Total Pages : 7493 pages
Book Rating : 4.3/5 (495 download)
Download or read book The New Palgrave Dictionary of Economics written by and published by Springer. This book was released on 2016-05-18 with total page 7493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
Author :
Publisher : Fundacion BBVA
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4./5 ( download)
Download or read book The New Keynesian Monetary Model. Does it Show the Comovement between Output and Inflation in the U.S. and the Euro Area? written by and published by Fundacion BBVA. This book was released on with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Pau Rabanal
Publisher : International Monetary Fund
ISBN 13 : 1451875657
Total Pages : 68 pages
Book Rating : 4.4/5 (518 download)
Download or read book Technology Shocks and Aggregate Fluctuations written by Mr.Pau Rabanal and published by International Monetary Fund. This book was released on 2004-12-01 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our answer: Not so well. We reached that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the strong positive comovement between output and labor input measures.
Author : Bozzano G Luisa
Publisher : Elsevier
ISBN 13 : 0080545327
Total Pages : 746 pages
Book Rating : 4.0/5 (85 download)
Download or read book Inflation, Employment and Business Fluctuations written by Bozzano G Luisa and published by Elsevier. This book was released on 2000-11-16 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Textbook on Macroeconomic Knowledge and Analysis
Author : Massimo Rostagno
Publisher : Oxford University Press
ISBN 13 : 0192895915
Total Pages : 449 pages
Book Rating : 4.1/5 (928 download)
Download or read book Monetary Policy in Times of Crisis written by Massimo Rostagno and published by Oxford University Press. This book was released on 2021 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first twenty years of the European Central Bank offer a unique insight into how a central bank can navigate macroeconomic insecurity and crisis. This volume examines the structures and decision-making processes behind the complex measures taken by the ECB to tackle some of the toughest economic challenges in the history of modern Europe.
Author : Fabian Bornhorst
Publisher : International Monetary Fund
ISBN 13 : 1475510209
Total Pages : 39 pages
Book Rating : 4.4/5 (755 download)
Download or read book When and How to Adjust Beyond the Business Cycle? A Guide to Structural Fiscal Balances written by Fabian Bornhorst and published by International Monetary Fund. This book was released on 2011-04-11 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technical Notes and Manuals are produced by IMF departments to expand the dissemination of their technical assistance advice. These papers present general advice and guidance, drawn in part from unpublished technical assistance reports, to a broader audience. This new series was launched in August 2009.
Author : Jordi Galí
Publisher : Princeton University Press
ISBN 13 : 1400866278
Total Pages : 295 pages
Book Rating : 4.4/5 (8 download)
Download or read book Monetary Policy, Inflation, and the Business Cycle written by Jordi Galí and published by Princeton University Press. This book was released on 2015-06-09 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: The classic introduction to the New Keynesian economic model This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate-level introduction to the New Keynesian framework and its applications to monetary policy. The New Keynesian framework is the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, the framework provides the theoretical underpinnings for the price stability–oriented strategies adopted by most central banks in the industrialized world. Using a canonical version of the New Keynesian model as a reference, Jordi Galí explores various issues pertaining to monetary policy's design, including optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the effects on monetary policy are addressed, with emphasis on the desirability of inflation-targeting policies. New material includes the zero lower bound on nominal interest rates and an analysis of unemployment’s significance for monetary policy. The most up-to-date introduction to the New Keynesian framework available A single benchmark model used throughout New materials and exercises included An ideal resource for graduate students, researchers, and market analysts
