Similar Search Results

Sources of Inflation Persistence in the Euro Area

Cournède, Boris - 2005

In recent years, inflation in the euro area has failed to decelerate decisively while cyclical slack built up in the … shown to respond significantly more weakly to cyclical slack in the euro area than in countries such as the United Kingdom … relates to the 2005 OECD Economic Survey of the euro area (www.oecd.org/eco/surveys/euroarea). …

Persistent link: https://www.econbiz.de/10012444759

S,s pricing in a dynamic equilibrium model with heterogeneous sectors

Damjanovic, Vladislav; Nolan, Charles - In: Journal of Economic Dynamics and Control 36 (2012) 4, pp. 550-567

We study the impact of two-sided nominal shocks in a dynamic, equilibrium macroeconomic model. Goods complementarity differs across sectors as do the costs of changing prices. Even when strategic complementarities are equal across the sectors, the systematic differences in costs of price...

Persistent link: https://www.econbiz.de/10010577443

The Great Inflation: Did the Shadow Know Better?

Poole, William; Rasche, Robert H.; Wheelock, David C. - National Bureau of Economic Research (NBER) - 2011

The Shadow Open Market Committee was formed in 1973 in response to rising inflation and the apparent unwillingness of U.S. policymakers to implement policies necessary to maintain price stability. This paper describes how the Committee's policy views differed from those of most Federal Reserve...

Persistent link: https://www.econbiz.de/10008876847

The Drivers of Post-Pandemic Inflation

Giannone, Domenico; Primiceri, Giorgio E. - National Bureau of Economic Research - 2024

also in the Euro Area. In comparison, the inflationary impact of adverse supply shocks was less pronounced, even though …

Persistent link: https://www.econbiz.de/10015056186

Now-casting and the real-time data flow

Banbura, Marta; Giannone, Domenico; Modugno, Michele; … - C.E.P.R. Discussion Papers - 2012

The term now-casting is a contraction for now and forecasting and has been used for a long-time in meteorology and recently also in economics In this paper we survey recent developments on economic now-casting with special focus on those models that formalize key features of how market...

Persistent link: https://www.econbiz.de/10011084671

An early warning system to predict speculative house price bubbles

Dreger, Christian; Kholodilin, Konstantin A. - In: Economics - The Open-Access, Open-Assessment E-Journal 7 (2013), pp. 1-26

In this paper, the authors construct country-specific chronologies of the house price bubbles for 12 OECD countries over the period 1969:Q1-2009:Q4. These chronologies are obtained using a combination of a fundamental approach and a filter approach. The resulting speculative bubble chronology is...

Persistent link: https://www.econbiz.de/10010954732

One Business Cycle and One Trend from (Many) Many Disaggregates

Quah, Danny - C.E.P.R. Discussion Papers - 1994

Typical analyses of trends and cycles take as given some (one) observable economic variable in whose time path a researcher wishes to find trend and cycle movements. But individual sectors and regions in aggregate economies move neither perfectly with nor independently of each other -- why is it...

Persistent link: https://www.econbiz.de/10005136463

An early warning system to predict speculative house price bubbles

Dreger, Christian; Kholodilin, Konstantin - 2013

Persistent link: https://www.econbiz.de/10009719582

The distribution of inflation forecast errors

Gamber, Edward N.; Liebner, Jeffrey P.; Smith, Julie K. - In: Journal of Policy Modeling 37 (2015) 1, pp. 47-64

This paper investigates the cross-sectional distribution of inflation forecasts errors over the period 1984–2007. Our working hypothesis is that the Fed's movement toward greater transparency starting in the mid-1990s likely affected both the distribution of forecast errors and the location of...

Persistent link: https://www.econbiz.de/10011209148

The Central Banker as a Risk Manager: Quantifying and Forecasting Inflation Risks

Kilian, Lutz; Manganelli, Simone - C.E.P.R. Discussion Papers - 2003

In deciding a monetary policy stance, central bankers need to evaluate carefully the risks the current economic situation poses to price stability. We propose to regard the central banker as a risk manager who aims to contain inflation within pre-specified bounds. We develop formal tools of risk...

Persistent link: https://www.econbiz.de/10005123620