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Inflation and Welfare in Models with Trading Frictions

Rocheteau, Guillaume; Wright, Randall - Department of Economics, University of Pennsylvania - 2003

We study the effects of inflation in models with various trading frictions. The framework is related to recent search … alternative mechanisms for price formation: bargaining, price taking, and posting. Both the value of money per transaction and …

Persistent link: https://www.econbiz.de/10005061927

Inflation and Welfare with Search and Price Dispersion

Wang, Liang - Department of Economics, University of Hawaii-Manoa - 2011

frictions to incorporate the interrelationship of money, search, and endogenous price dispersion. Inflation aspects welfare …This paper studies the effect of inflation on welfare in a monetary economy with price dispersion and consumer search …. When facing greater price dispersion with higher inflation, consumers search harder for lower prices, and increased search …

Persistent link: https://www.econbiz.de/10009327859

Finanzmärkte, Arbeitsmärkte und Inflation – beschleunigt die Zinspolitik der Zentralbank die Inflation und den Banken Crash?

Schäfer, Dorothea; Semmler, Willi - In: Vierteljahrshefte zur Wirtschaftsforschung 92 (2023) 2, pp. 45-68

Die Zentralbanken versuchen gegenwärtig mit dem Instrument der Zinsschraube beides zu erreichen: Inflationsabschwächung und Finanzmarktstabilisierung. Sie geben auch vor, separate Instrumente für beide Probleme zu haben. Aber ist das wirklich so? Unbestreitbar ist, dass die fiskalischen und...

Persistent link: https://www.econbiz.de/10015173571

Is interest rate hiking a recipe for missing several goals of monetary policy—beating inflation, preserving financial stability, and keeping up output growth?

Schäfer, Dorothea; Semmler, Willi - In: Eurasian Economic Review 14 (2024) 2, pp. 235-254

After the corona crisis, and even more so when the war in Ukraine struck, the price levels of all goods in the US and Europe rose surprisingly quickly and persistently. The FED began in March 2022 and the ECB in July 2022 with historically unique interest rate increases to combat the wage-price...

Persistent link: https://www.econbiz.de/10015393844

Disinflations in Latin America and the Caribbean: A free lunch?

Hofstetter, Marc - 2004

This paper challenges the conventional view according to which disinflations in LAC-even from low and moderate peaks-have been carried out at no cost to output. After suggesting a new methodology that allows for long-lived effects and inflation inertia when measuring costs of disinflations,...

Persistent link: https://www.econbiz.de/10010293509

DISINFLATIONS IN LATIN AMERICA AND THE CARIBBEAN: A FREE LUNCH?

Hofstetter, Marc - UNIVERSIDAD DE LOS ANDES-CEDE - 2006

This paper challenges the conventional view according to which disinflations in Latin America -even from low and moderate peaks- have been carried out at no cost to output. After suggesting a new methodology that overcomes some of the shortcomings of the traditional methods used to measure the...

Persistent link: https://www.econbiz.de/10005092541

Inflation Measured Every Day Keeps Adverse Responses Away : Temporal Aggregation and Monetary Policy Transmission

Jacobson, Margaret; Matthes, Christian; Walker, Todd B. - 2022

Using daily inflation data from the Billion Prices Project [Cavallo and Rigobon (2016)], we show how temporal aggregation biases estimates of monetary policy transmission. We argue that the information mismatch between private agents and the econometrician —the source of temporal aggregation...

Persistent link: https://www.econbiz.de/10014077279

Predicting Inflation : Portfolio Erosion or Collapse?

Crawford, George - 2012

What is the probability of high inflation; how high, when? These questions are important to all investors since even the 2% level to which we are accustomed will cut an investor's portfolio by over 17% during a decade. This 2% level is the target of the Federal Reserve, along with near 0%...

Persistent link: https://www.econbiz.de/10013099903

Proper Valuation of a Currency Keeps a Currency’s Price in Sync with Economic Fundamentals and Prevents Asset Bubbles and Inflation

Ng, Wenfa - 2021

The foreign exchange market seeks to use a market-based mechanism to discover a price for a currency. But, this price discovery mechanism is hampered by a variety of externalities, chief of which is the different intermediaries involved in the trading and clearing of a currency. Such...

Persistent link: https://www.econbiz.de/10013238090

Finanzmärkte, Arbeitsmärkte und Inflation : beschleunigt die Zinspolitik der Zentralbank die Inflation und den Banken Crash?

Schäfer, Dorothea; Semmler, Willi - In: Vierteljahrshefte zur Wirtschaftsforschung 92 (2023) 2, pp. 45-68

Die Zentralbanken versuchen gegenwärtigmit dem Instrument der Zinsschraube beides zu erreichen: Inflationsabschwächung und Finanzmarktstabilisierung. Sie geben auch vor, separate Instrumente für beide Probleme zu haben. Aber ist das wirklich so? Unbestreitbar ist, dass die fiskalischen und...

Persistent link: https://www.econbiz.de/10015110382