Showing 1 - 10 of 46
We examine the relationship between inflation and unemployment in the long run,using quarterly US data from 1952 to … 2010. Using a band-pass filter approach, we find strong evidence that a positive relationship exists, where inflation leads … Berentsen, Menzio, and Wright (2011): the relationship between inflation and unemployment is positive in the long run. …
Persistent link: https://www.econbiz.de/10009293392
restructuring and defaults; in the United Kingdom inflation has dominated, eroding the value of debt; and in Ireland and Spain the …
Persistent link: https://www.econbiz.de/10010862297
We analyse the incidence of endogenous entry and firm TFP-heterogeneity on the response of aggregate inflation to … distribution of firms in Spain. We then compare the inflation response to technology, interest rate and entry cost shocks, among … others. We find that structures in which large (more productive) firms predominate tend to deliver more muted inflation …
Persistent link: https://www.econbiz.de/10011105510
-2000. Observed changes in these elasticities are decomposed into changes due to inflation, real income growth, changes in fiscal …
Persistent link: https://www.econbiz.de/10005750816
In this paper the relationship between inflation and stock returns in Australia is examined. It is found that increases … persistent increases in inflation affect real returns cannot be addressed using the Australian data. …
Persistent link: https://www.econbiz.de/10005750827
causality of the oil price by US inflation as is consistent with the theory. …
Persistent link: https://www.econbiz.de/10008486939
inflation and the unemployment rate in Australia. The implied time-varying equilibrium unemployment rate was generated and the …
Persistent link: https://www.econbiz.de/10008460513
The purpose of this paper is to illustrate the implications for aggregate price dynamics of alternative characterizations of microeconomic price adjustment policies. Within the hazard adjustment framework developed in Caballero and Engel (1993a), we present alternative models of individual price...
Persistent link: https://www.econbiz.de/10005590672
The main contribution of this paper is to jointly estimate the effects of financial development and inflation on growth …. We aim to exploit both the cross-section and the time-series dimension of the data on inflation, growth and some banking …, that the long-run costs of inflation are not explained by policies of financial repression, and second, that if inflation …
Persistent link: https://www.econbiz.de/10005590692
as a tool to compare the characteristics of European inflation dynamics with those observed in the U.S. We also analyse … the factors underlying inflation inertia by examining the cyclical behavior of marginal costs, as well as that of its two …
Persistent link: https://www.econbiz.de/10005590697