aller au contenu
Relative goods' prices and pure inflation Aperçu de cet ouvrage
FermerAperçu de cet ouvrage
Vérification...

Relative goods' prices and pure inflation

Auteur : Ricardo Reis; Mark W Watson; National Bureau of Economic Research.
Éditeur : Cambridge, Mass. : National Bureau of Economic Research, 2007.
Collection : Working paper series (National Bureau of Economic Research), no. 13615.
Édition/format :   Livre électronique : Document : EnglishVoir toutes les éditions et tous les formats
Base de données :WorldCat
Résumé :
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  Lire la suite...
Évaluation :

(pas encore évalué) 0 avec des critiques - Soyez le premier.

Sujets
Plus comme ceci

 

Trouver un exemplaire dans la bibliothèque

&AllPage.SpinnerRetrieving; Recherche de bibliothèques qui possèdent cet ouvrage...

Détails

Format – détails additionnels : Print version:
Reis, Ricardo.
Relative goods' prices and pure inflation.
Cambridge, Mass. : National Bureau of Economic Research, 2007
(OCoLC)184845252
Type d’ouvrage : Document, Ressource Internet
Format : Internet Resource, Computer File
Tous les auteurs / collaborateurs : Ricardo Reis; Mark W Watson; National Bureau of Economic Research.
Numéro OCLC : 182544971
Notes de reproduction : Electronic reproduction. [S.l.] : HathiTrust Digital Library, 2011. MiAaHDL
Description : 1 online resource (1 volume).
Détails : 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.
Titre de collection : Working paper series (National Bureau of Economic Research), no. 13615.
Responsabilité : Ricardo Reis, Mark W. Watson.

Résumé :

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.

Critiques

Critiques d’utilisateurs
Récupération des critiques de GoodReads...
Récuperation des critiques DOGObooks…

Étiquettes

Soyez le premier.
Confirmez cette demande

Vous avez peut-être déjà demandé cet ouvrage. Veuillez sélectionner OK si vous voulez poursuivre avec cette demande quand même.

Données liées


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

Fermer la fenêtre

Veuillez vous identifier dans WorldCat 

Dont have an account? You can easily créez un compte gratuit.