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Holden, Steinar; Driscoll, John C. - 2001

In an important paper, Fuhrer and Moore (1995) showed that Taylor (1980)’s staggered wage setting model does not exhibit persistence in inflation; they proposed a simple modification, in which workers cared about the real wages of other workers, which solves this problem. However, we argue...

Persistent link: https://www.econbiz.de/10010284416

Exchange rate pass-through to various price indices: Empirical estimation using vector error correction models

Bachmann, Andreas - 2012

-through for Switzerland are based on either single equation estimation or on VAR models. However, these approaches feature some …

Persistent link: https://www.econbiz.de/10010316049

Predicting Inflation : Does The Quantity Theory Help?

Bachmeier, Lance J.; Swanson, Norman R. - 2003

are also reported on. The first shows that cointegration vector parameter estimation error is crucial when using VEC … theory, but only when the cointegrating relations are specified a priori based on economic theory. When estimated … alternative models, due to parameter estimation error, indicating that caution needs to be exercised when interpreting the results …

Persistent link: https://www.econbiz.de/10010263217

Monetary Policy, Global Liquidity and Commodity Price Dynamics

Belke, Ansgar; Bordon, Ingo G.; Hendricks, Torben W. - 2010

This paper examines the interactions between money, interest rates, goods and commodity prices at a global level. For this purpose, we aggregate data for major OECD countries and follow the Johansen/Juselius cointegrated VAR approach. Our empirical model supports the view that, when controlling...

Persistent link: https://www.econbiz.de/10010269974

Monetary policy, global liquidity and commodity price dynamics

Belke, Ansgar; Bordon, Ingo G.; Hendricks, Torben W. - 2010

Persistent link: https://www.econbiz.de/10010271369

Testing the New Keynesian Model on U.S. and Euro Area Data

Juselius, Mikael - 2008

I apply the Johansen and Swensen (1999, 2004) method of testing exact rational expectations within the cointegrated VAR (Vector Auto-Regressive) model, to testing the New Keynesian (NK) model. This method permits the testing of rational expectation systems, while allowing for non-stationary...

Persistent link: https://www.econbiz.de/10010295280

Testing the New Keynesian Model on U.S. and Euro Area Data

Juselius, Mikael - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-24, pp. 1-26

Persistent link: https://www.econbiz.de/10010295321

The inflation rate disconnect puzzle: On the international component of trend inflation and the flattening of the Phillips curve

Ascari, Guido; Fosso, Luca - 2021

Since 2000 U.S. inflation has remained both below target and silent to domestic slack and monetary interventions. A trend-cycle BVAR decomposition explores the role of imported intermediate goods in explaining the puzzling behaviour of inflation. The trend analysis shows that, starting from the...

Persistent link: https://www.econbiz.de/10013373827

Messung der gefühlten Inflation in Deutschland

Treu, Johannes; Hartwig, Johannes - 2022

This paper shows that there is a very large difference between the official measured inflation rate with its basket of 650 types of goods and perceived inflation in Germany. While the inflation rate in Germany was 10.0% in September 2022 and 10.4% in October, a nationwide survey revealed that...

Persistent link: https://www.econbiz.de/10013454152

Determinants of inflation in Europe: A dynamic panel analysis

Čaklovica, Lejla; Efendic, Adnan S. - In: Financial Internet Quarterly 16 (2020) 3, pp. 51-79

This article offers an empirical analysis of determinants of inflation in 28 European economies that belonged to the transition group of countries in the end of the last century. We rely on dynamic panel methodology and find that economic and structural variables, including economic openness,...

Persistent link: https://www.econbiz.de/10013466259