přejít na obsah
Relative goods' prices and pure inflation Náhled dokumentu
ZavřítNáhled dokumentu
Probíhá kontrola...

Relative goods' prices and pure inflation

Autor Ricardo Reis; Mark W Watson; National Bureau of Economic Research.
Vydavatel: Cambridge, Mass. : National Bureau of Economic Research, 2007.
Edice: Working paper series (National Bureau of Economic Research), no. 13615.
Vydání/formát:   e-kniha : Document : EnglishZobrazit všechny vydání a formáty
Databáze:WorldCat
Shrnutí:
This paper uses a dynamic factor model for the quarterly changes in consumption goods' prices to separate them into three components: idiosyncratic relative-price changes, aggregate relative-price changes, and changes in the unit of account. The model identifies a measure of "pure" inflation: the common component in goods' inflation rates that has an equiproportional effect on all prices and is uncorrelated with  Přečíst více...
Hodnocení:

(ještě nehodnoceno) 0 zobrazit recenze - Buďte první.

Předmětová hesla:
Více podobných

 

Vyhledat exemplář v knihovně

&AllPage.SpinnerRetrieving; Vyhledávání knihoven, které vlastní tento dokument...

Detaily

Doplňující formát: (OCoLC)184845252
Typ materiálu: Document, Internetový zdroj
Typ dokumentu: Internet Resource, Computer File
Všichni autoři/tvůrci: Ricardo Reis; Mark W Watson; National Bureau of Economic Research.
OCLC číslo: 182544971
Poznámka o reprodukci: Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2011. MiAaHDL
Popis: 1 online resource (1 v.)
Podrobnosti: Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Název edice: Working paper series (National Bureau of Economic Research), no. 13615.
Odpovědnost: Ricardo Reis, Mark W. Watson.

Anotace:

This paper uses a dynamic factor model for the quarterly changes in consumption goods' prices to separate them into three components: idiosyncratic relative-price changes, aggregate relative-price changes, and changes in the unit of account. The model identifies a measure of "pure" inflation: the common component in goods' inflation rates that has an equiproportional effect on all prices and is uncorrelated with relative price changes at all dates. The estimates of pure inflation and of the aggregate relative-price components allow us to re-examine three classic macro-correlations. First, we find that pure inflation accounts for 15-20% of the variability in overall inflation, so that most changes in inflation are associated with changes in goods' relative prices. Second, we find that the Phillips correlation between inflation and measures of real activity essentially disappears once we control for goods' relative-price changes. Third, we find that, at business-cycle frequencies, the correlation between inflation and money is close to zero, while the correlation with nominal interest rates is around 0.5, confirming previous findings on the link between monetary policy and inflation.

Recenze

Recenze vložené uživatelem
Nahrávání recenzí GoodReads...
Přebírání recenzí DOGO books...

Štítky

Buďte první.

Podobné dokumenty

Potvrdit tento požadavek

Tento dokument jste si již vyžádali. Prosím vyberte Ok pokud chcete přesto v žádance pokračovat.

Propojená data


<http://www.worldcat.org/oclc/182544971>
library:oclcnum"182544971"
library:placeOfPublication
library:placeOfPublication
rdf:typeschema:MediaObject
rdf:typeschema:Book
rdf:valueUnknown value: dct
schema:about
schema:about
schema:about
schema:bookFormatschema:EBook
schema:contributor
schema:contributor
schema:creator
schema:datePublished"2007"
schema:description"This paper uses a dynamic factor model for the quarterly changes in consumption goods' prices to separate them into three components: idiosyncratic relative-price changes, aggregate relative-price changes, and changes in the unit of account. The model identifies a measure of "pure" inflation: the common component in goods' inflation rates that has an equiproportional effect on all prices and is uncorrelated with relative price changes at all dates. The estimates of pure inflation and of the aggregate relative-price components allow us to re-examine three classic macro-correlations. First, we find that pure inflation accounts for 15-20% of the variability in overall inflation, so that most changes in inflation are associated with changes in goods' relative prices. Second, we find that the Phillips correlation between inflation and measures of real activity essentially disappears once we control for goods' relative-price changes. Third, we find that, at business-cycle frequencies, the correlation between inflation and money is close to zero, while the correlation with nominal interest rates is around 0.5, confirming previous findings on the link between monetary policy and inflation."@en
schema:exampleOfWork<http://worldcat.org/entity/work/id/200152633>
schema:inLanguage"en"
schema:isPartOf
schema:name"Relative goods' prices and pure inflation"@en
schema:publication
schema:publisher
schema:url<http://catalog.hathitrust.org/api/volumes/oclc/184845252.html>
schema:url<http://papers.nber.org/papers/w13615>
wdrs:describedby

Content-negotiable representations

Zavřít okno

Prosím přihlaste se do WorldCat 

Nemáte účet? Můžete si jednoduše vytvořit bezplatný účet.