Showing 1 - 10 of 292
, this index may not fully capture the true rate of monetary inflation in the short run. Merging all price indices into one … interpreted as a proxy for the overall inflation rate; hence it is unnecessary to create a price index if the money growth rate … index in eight developed countries. The results show that money growth is correlated with financial asset price inflation in …
Persistent link: https://www.econbiz.de/10008854295
Christiano and Fitzgerald (2003) found a significant, positive correlation between M2 money growth and CPI inflation in … pre-1961 sample to include the monetary base and inflation calculated from the GDP deflator. In addition, we extend their … money growth and inflation exits only for the broad money aggregates and within the 20-40 year frequency band. …
Persistent link: https://www.econbiz.de/10010835922
countercyclical; inflation is procyclical and lag the cycle. …
Persistent link: https://www.econbiz.de/10008562859
Christiano and Fitzgerald (2003) found a significant, positive correlation between M2 money growth and CPI inflation in … pre-1961 sample to include the monetary base and inflation calculated from the GDP deflator. In addition, we extend their … money growth and inflation exits only for the broad money aggregates and within the 20-40 year frequency band. …
Persistent link: https://www.econbiz.de/10005416861
This note uses a dynamic stochastic general equilibrium model with direct preferences for financial wealth to explore how stock price booms and busts relate to the real side of the economy. It evaluates the 'speculative' (sunspots) and 'news' (anticipated future changes in productivity)...
Persistent link: https://www.econbiz.de/10010658620
This paper attempts to examine empirically the dynamic relationship between inflation, growth and interest rate under … has a negative impact on both growth and the size of the informal activities, while inflation does not have a significant … are mostly carried out by the changes in inflation. The causal relation from inflation to interest rate is significantly …
Persistent link: https://www.econbiz.de/10011212874
.S. interest rate and inflation. Employing the Breitung's (2001) rank tests for nonlinear cointegration, we find herein little …
Persistent link: https://www.econbiz.de/10011278839
This paper examines the growth and income distribution effects of inflation in a growing economy with heterogeneous …
Persistent link: https://www.econbiz.de/10008727317
This paper examines, for the Brazilian case, if break-even inflation rates (BEIR) extracted from fixed income … securities are an unbiased estimator of consumer inflation, measured by the CPI. Our estimates suggest that BEIRs are informative … about future inflation, especially for the maturity of three months. The main innovation of our work, however, is the method …
Persistent link: https://www.econbiz.de/10009020018
This paper examines the presence of non-linear mechanism in the exchange rate pass-through (ERPT) to CPI inflation for …-linearities with respect to the inflation environment. We find strong evidence that pass-through respond non-linearly to inflation … level for 8 out of 12 EA countries, that is, the transmission of exchange rate is higher when inflation rate surpass some …
Persistent link: https://www.econbiz.de/10011278670