Search Results - subject:"Inflation inertia"

Hitchhiker's guide to inflation in Libya

Cevik, Serhan; Teksoz, Katerina - In: International Journal of Economic Policy in Emerging … 7 (2014) 1, pp. 1-21

cointegration and error correction models. While inflation inertia is found to be a key determinant of consumer price inflation, the …

Persistent link: https://www.econbiz.de/10010816400

Inflation persistence: Implications for a design of monetary policy in a small open economy subject to external shocks

Kuralbayeva, Karlygash - Centro di Studi Internazionali Sull'Economia e la … - 2007

We analyze implications of in.ation persistence for business cycle dynamics following terms of trade and risk-premium shocks in a small open economy, under fixed and flexible exchange rate regimes. We show that the country's adjustment paths are slow and cyclical if there is a signi.cant...

Persistent link: https://www.econbiz.de/10005694998

Impact of Price-Deregulation on Market Outcomes - The Case of Chimney Sweep Services in Slovenia

Žižmond, Egon - In: Prague Economic Papers 2006 (2006) 4, pp. 350-363

In transition countries, especially in the period of central planning or semi-command regulation, prices of goods and services in the non-tradable sector were regulated, which was one of the main obstacles to normal functioning of the supply-demand market mechanism after the breakdown of the...

Persistent link: https://www.econbiz.de/10005036548

Measures of Potential Output from an Estimated DSGE Model of the United States

Juillard, Michel; Kamenik, Ondrej; Kumhof, Michael; … - Česká Národní Banka - 2006

This paper develops a DSGE model for the United States that features rational inflation inertia and persistence. The …

Persistent link: https://www.econbiz.de/10005765483

An Evolutionary Theory of Inflation Inertia

Anagnostopoulos, Alexis; Licandro, Omar; Bove, Italo; … - Department of Economics, European University Institute - 2006

We provide a simple theory of inflation inertia in a staggered price setting framework a la Calvo (1983). Contrary to …EUI WORKING PAPERS Department of Economics An Evolutionary Theory of Inflation Inertia ALEXIS ANAGNOSTOPOULOS and … DEPARTMENT OF ECONOMICS An Evolutionary Theory of Inflation Inertia ALEXIS ANAGNOSTOPOULOS and OMAR LICANDRO EUI Working …

Persistent link: https://www.econbiz.de/10005557720

Multi-Sectoral Cascading and Price Dynamics - A Bayesian Econometric Evaluation

Justiniano, Alejandro; Kumhof, Michael; Ravenna, Federico - Society for Computational Economics - SCE - 2006

Recent evidence by Bils and Klenow (2004) and Klenow and Kryvstov (2003) shows that the average price duration for US CPI-basket goods is in the order of one to two quarters, challenging the monetary business cycle research to try and explain how short price durations can nevertheless generate a...

Persistent link: https://www.econbiz.de/10005706265

Inflation, structural change and conflict in post-disinflation Brazil: a structuralist appraisal

Carvalho, André Roncaglia de - Departamento de Economia, Faculdade de Economia, … - 2013

The paper analyzes some of the structural causes of inflationary persistence in Brazil in the post-Real plan period, in contrast to the Brazilian Central Bank’s view on the causes of inflation, particularly in what concerns its inertial component. It begins with a historical perspective on the...

Persistent link: https://www.econbiz.de/10010732571

Real wage rigidities and the new Keynesian model

Blanchard, Olivier; Galí, Jordi - 2005

Most central banks perceive a trade-off between stabilizing inflation and stabilizing the gap between output and desired output. However, the standard new Keynesian framework implies no such trade-off. In that framework, stabilizing inflation is equivalent to stabilizing the welfare-relevant...

Persistent link: https://www.econbiz.de/10010280864

A Rational Expectations Model of Optimal Inflation Inertia

Kumhof, Michael; Laxton, Douglas - Society for Computational Economics - SCE - 2005

models, namely their inability to generate inflation inertia, inflation persistence and recessionary disinflations without … updating component of firms' pricing policies. This is distinct from another frequently stressed reason for inflation inertia …

Persistent link: https://www.econbiz.de/10005537476

Expectations, Learning and Macroeconomic Persistence

Milani, Fabio - Department of Economics, University of California-Irvine - 2005

This paper presents an estimated model with learning and provides evidence that learning can improve the fit of popular monetary DSGE models and endogenously generate realistic levels of persistence. The paper starts with an agnostic view, developing a model that nests learning and some of the...

Persistent link: https://www.econbiz.de/10004970918