omitir hasta el contenido
Relative goods' prices and pure inflation Ver este material de antemano
CerrarVer este material de antemano
Chequeando…

Relative goods' prices and pure inflation

Autor: Ricardo Reis; Mark W Watson; National Bureau of Economic Research.
Editorial: Cambridge, Mass. : National Bureau of Economic Research, 2007.
Serie: Working paper series (National Bureau of Economic Research), no. 13615.
Edición/Formato:   Libro-e : Documento : Inglés (eng)Ver todas las ediciones y todos los formatos
Base de datos:WorldCat
Resumen:
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  Leer más
Calificación:

(todavía no calificado) 0 con reseñas - Ser el primero.

Temas
Más materiales como éste

 

Encontrar un ejemplar en la biblioteca

&AllPage.SpinnerRetrieving; Encontrando bibliotecas que tienen este material…

Detalles

Formato físico adicional: Print version:
Reis, Ricardo.
Relative goods' prices and pure inflation.
Cambridge, Mass. : National Bureau of Economic Research, 2007
(OCoLC)184845252
Tipo de material: Documento, Recurso en Internet
Tipo de documento: Recurso en Internet, Archivo de computadora
Todos autores / colaboradores: Ricardo Reis; Mark W Watson; National Bureau of Economic Research.
Número OCLC: 182544971
Notas de Reproducción: Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2011. MiAaHDL
Descripción: 1 online resource (1 volume).
Detalles: 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.
Título de la serie: Working paper series (National Bureau of Economic Research), no. 13615.
Responsabilidad: Ricardo Reis, Mark W. Watson.

Resumen:

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.

Reseñas

Reseñas contribuidas por usuarios
Recuperando reseñas de GoodReads…
Recuperando reseñas de DOGObooks…

Etiquetas

Ser el primero.
Confirmar este pedido

Ya ha pedido este material. Escoja OK si desea procesar el pedido de todos modos.

Datos enlazados


Primary Entity

<http://www.worldcat.org/oclc/182544971> # Relative goods' prices and pure inflation
    a schema:MediaObject, schema:Book, schema:CreativeWork ;
   library:oclcnum "182544971" ;
   library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
   library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/200152633#Place/cambridge_mass> ; # Cambridge, Mass.
   schema:about <http://experiment.worldcat.org/entity/work/data/200152633#Topic/consumer_goods_prices_econometric_models> ; # Consumer goods--Prices--Econometric models
   schema:about <http://id.loc.gov/authorities/subjects/sh2008123653> ; # Inflation (Finance)--Econometric models
   schema:about <http://id.worldcat.org/fast/972453> ; # Inflation (Finance)--Econometric models
   schema:bookFormat schema:EBook ;
   schema:contributor <http://experiment.worldcat.org/entity/work/data/200152633#Organization/national_bureau_of_economic_research> ; # National Bureau of Economic Research.
   schema:contributor <http://experiment.worldcat.org/entity/work/data/200152633#Person/watson_mark_w> ; # Mark W. Watson
   schema:creator <http://experiment.worldcat.org/entity/work/data/200152633#Person/reis_ricardo> ; # Ricardo Reis
   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 <http://experiment.worldcat.org/entity/work/data/200152633#Series/nber_working_paper_series> ; # NBER working paper series ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/200152633#Series/working_paper_series_national_bureau_of_economic_research> ; # Working paper series (National Bureau of Economic Research) ;
   schema:isSimilarTo <http://www.worldcat.org/oclc/184845252> ;
   schema:name "Relative goods' prices and pure inflation"@en ;
   schema:productID "182544971" ;
   schema:publication <http://www.worldcat.org/title/-/oclc/182544971#PublicationEvent/cambridge_mass_national_bureau_of_economic_research_2007> ;
   schema:publisher <http://experiment.worldcat.org/entity/work/data/200152633#Agent/national_bureau_of_economic_research> ; # National Bureau of Economic Research
   schema:url <http://catalog.hathitrust.org/api/volumes/oclc/184845252.html> ;
   schema:url <http://papers.nber.org/papers/w13615> ;
   wdrs:describedby <http://www.worldcat.org/title/-/oclc/182544971> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/200152633#Agent/national_bureau_of_economic_research> # National Bureau of Economic Research
    a bgn:Agent ;
   schema:name "National Bureau of Economic Research" ;
    .

<http://experiment.worldcat.org/entity/work/data/200152633#Organization/national_bureau_of_economic_research> # National Bureau of Economic Research.
    a schema:Organization ;
   schema:name "National Bureau of Economic Research." ;
    .

<http://experiment.worldcat.org/entity/work/data/200152633#Person/reis_ricardo> # Ricardo Reis
    a schema:Person ;
   schema:familyName "Reis" ;
   schema:givenName "Ricardo" ;
   schema:name "Ricardo Reis" ;
    .

<http://experiment.worldcat.org/entity/work/data/200152633#Person/watson_mark_w> # Mark W. Watson
    a schema:Person ;
   schema:familyName "Watson" ;
   schema:givenName "Mark W." ;
   schema:name "Mark W. Watson" ;
    .

<http://experiment.worldcat.org/entity/work/data/200152633#Place/cambridge_mass> # Cambridge, Mass.
    a schema:Place ;
   schema:name "Cambridge, Mass." ;
    .

<http://experiment.worldcat.org/entity/work/data/200152633#Series/nber_working_paper_series> # NBER working paper series ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/182544971> ; # Relative goods' prices and pure inflation
   schema:name "NBER working paper series ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/200152633#Series/working_paper_series_national_bureau_of_economic_research> # Working paper series (National Bureau of Economic Research) ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/182544971> ; # Relative goods' prices and pure inflation
   schema:name "Working paper series (National Bureau of Economic Research) ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/200152633#Topic/consumer_goods_prices_econometric_models> # Consumer goods--Prices--Econometric models
    a schema:Intangible ;
   schema:hasPart <http://id.loc.gov/authorities/subjects/sh88006884> ;
   schema:name "Consumer goods--Prices--Econometric models"@en ;
    .

<http://id.loc.gov/authorities/subjects/sh2008123653> # Inflation (Finance)--Econometric models
    a schema:Intangible ;
   schema:name "Inflation (Finance)--Econometric models"@en ;
    .

<http://id.worldcat.org/fast/972453> # Inflation (Finance)--Econometric models
    a schema:Intangible ;
   schema:hasPart <http://id.loc.gov/authorities/subjects/sh2008123653> ; # Inflation (Finance)--Econometric models
   schema:name "Inflation (Finance)--Econometric models"@en ;
    .

<http://www.worldcat.org/oclc/184845252>
    a schema:CreativeWork ;
   rdfs:label "Relative goods' prices and pure inflation." ;
   schema:description "Print version:" ;
   schema:isSimilarTo <http://www.worldcat.org/oclc/182544971> ; # Relative goods' prices and pure inflation
    .


Content-negotiable representations

Cerrar ventana

Inicie una sesión con WorldCat 

¿No tienes una cuenta? Puede fácilmente crear una cuenta gratuita.