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Fiscal Theory of Price Level: A Panel Data Analysis for selected Saarc Countries
Nawaz, Muhammad; Iqbal, Muhammad Mazhar; Ali, Amanat; … - In: Journal for Economic Forecasting (2012) 3, pp. 152-170
validity of fiscal theory of price level in the five selected SAARC countries, namely Bhutan, India, Nepal, Pakistan and Sri … deficit (BD) significantly impacts on the SAARC price level. Our findings substantiate that fiscal theory of price level is …
Persistent link: https://www.econbiz.de/10010583875
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El nivel de precios, la política monetaria y la regla de Taylor en una economía IS/LM de precios flexibles
Lizarazu Alanez, Eddy - In: Revista Nicolaita de Estudios Económicos VIII (2013) 2, pp. 7-34
We study a flexible price IS/LM economy in which the money supply and interest rate play the role of monetary policy instruments. If the central bank sets the nominal interest rate, the ambiguity in the price level is manifested. However, the equilibrium price level is permissible, if the...
Persistent link: https://www.econbiz.de/10010991609
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The fiscal theory of the price level and the backing theory of money
Sproul, Michael - Volkswirtschaftliche Fakultät, … - 2011
A numerical example of privately issued money is used to illustrate the fiscal theory of the price level, and to show … that the fiscal theory is best understood as a subset of the backing theory of money. Government issuance of money or debt …’s assets do not rise in step with its liabilities. The backing theory is used to examine whether inflation can be avoided by a …
Persistent link: https://www.econbiz.de/10009228907
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Real Convergence, Price Level Convergence and Inflation Differentials in Europe
Égert, Balázs - Oesterreichische Nationalbank - 2007
This paper provides a comprehensive review of the factors that can cause price levels to diverge and which are at the root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors influencing market and non-market-based service, house...
Persistent link: https://www.econbiz.de/10005802617
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Dutch disease scare in Kazakhstan: Is it real?
Égert, Balázs; Leonard, Carol S. - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2007
In this paper we explore the evidence that would establish that Dutch disease is at work in, or poses a threat to, the Kazakh economy. Assessing the mechanism by which fluctuations in the price of oil can damage non-oil manufacturing—and thus long-term growth prospects in an economy that...
Persistent link: https://www.econbiz.de/10005648636
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THE PRICE TAG OF TOURISM: DO SMALL OPEN ECONOMIES DEPENDENT ON TOURISM REVENUES EXPERIENCE HIGHER PRICES OF GOODS AND SERVICES?
Vizek, Maruska; Tkalec, Marina - International Institute of Social and Economic Sciences - 2014
Although theoretical models describing the influence of tourism on welfare of the host economy suggest that increase in prices is a direct outcome of intensified tourism activity, so far this outcome has not been put to the empirical test. Therefore, we use panel data models on a data set...
Persistent link: https://www.econbiz.de/10011207233
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Administered Prices, Inflation and the Business Cycle – Selected Aspects
Fritzer, Friedrich - In: Monetary Policy & the Economy (2011) 1, pp. 41-57
The public sector plays a central role in price-setting in some markets for goods and services. Consequently, Eurostat began to publish a new series of inflation indices referred to as the HIPC-AP in early 2010 that summarizes the development of publicly administered prices. This study presents...
Persistent link: https://www.econbiz.de/10009004189
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Inflation Inequality In South Africa
Oosthuizen, Morne - Development Policy Research Unit, School of Economics - 2013
The inflation crisis of 2008 drew greater attention to the varying experiences of inflation in South Africa and, in particular, to the fact that different groups within society may have significantly differing inflation experiences. The groups may be defined according to income level, but may...
Persistent link: https://www.econbiz.de/10010766072
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Trade linkages and the globalisation of inflation in Asia and the Pacific
Auer, Raphael; Mehrotra, Aaron - Federal Reserve Bank of Dallas - 2014
Some observers argue that increased real integration has led to greater co-movement of prices internationally. We examine the evidence for cross-border price spillovers among economies participating in the pan-Asian cross-border production networks. Starting with country-level data, we find that...
Persistent link: https://www.econbiz.de/10010772602
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The role of money in economies with monetary policy regimes that ignore monetary aggregates
Victor, Olivo - Volkswirtschaftliche Fakultät, … - 2011
This paper discusses the important issue of price level determinacy from a theoretical and empirical perspective. The theoretical section relies basically on a dynamic aggregate demand aggregate supply (AD-AS) model. In the empirical section, we try to assess the relative importance of money...
Persistent link: https://www.econbiz.de/10011110252