Consumer and asset prices : some recent evidence

Dieter Gerdesmeier, Hans-Eggert Reimers, Barbara Roffia

This paper models the relationship between consumer and asset prices (approximated by house prices, oil prices and the exchange rate) by means of a Markov Switching model (MS model). It can be shown that house prices appear to play a significant role in the determination of consumer prices in a high-inflation and a low-inflation regime, whereas oil prices and the exchange rate only unfold an impact in a high-inflation regime. Taken together, these results can be seen as being of help for the monetary policy decision-making process.

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Year of publication:	2015
Authors:	Gerdesmeier, Dieter ; Reimers, Hans-Eggert ; Roffia, Barbara
Publisher:	Wismar : Hochsch., Fak. für Wirtschaftswiss.
Subject:	Inflation \| Wohnimmobilien \| Residential real estate \| Immobilienpreis \| Real estate price \| Ölpreis \| Oil price \| Wechselkurs \| Exchange rate \| Wirkungsanalyse \| Impact assessment \| Markov-Kette \| Markov chain \| Eurozone \| Euro area

Extent:	Online-Ressource (14 S.) graph. Darst.
Series:	Wismarer Diskussionspapiere. - Wismar : Hochschule, ZDB-ID 2148002-3. - Vol. 01/2015
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
ISBN:	978-3-942100-18-2
Other identifiers:	hdl:10419/108974 [Handle]
Classification:	D12 - Consumer Economics: Empirical Analysis ; D13 - Household Production and Intrahouse Allocation ; E31 - Price Level; Inflation; Deflation
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10010495384