Relative Price Variability And Output Inflation Tradeoffs In An Open Economy PDF Download
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Author | : Leonardo Leiderman |
Publisher | : |
Total Pages | : 24 |
Release | : 1980 |
Genre | : |
ISBN | : |
Download Relative Price Variability and Output-Inflation Tradeoffs in An Open Economy Book in PDF, ePub and Kindle
Author | : Mario I. Bléjer |
Publisher | : |
Total Pages | : 54 |
Release | : 1979 |
Genre | : Inflation (Finance) |
ISBN | : |
Download Inflation and Relative Price Variability in the Open Economy Book in PDF, ePub and Kindle
Author | : Bengt Assarsson |
Publisher | : |
Total Pages | : 176 |
Release | : 1984 |
Genre | : Inflation (Finance) |
ISBN | : |
Download Inflation and Relative Prices in an Open Economy Book in PDF, ePub and Kindle
Author | : Richard T. Froyen |
Publisher | : |
Total Pages | : 78 |
Release | : 1983 |
Genre | : Demand (Economic theory) |
ISBN | : |
Download Demand Variability, Supply Shocks and the Output-inflation Tradeoff Book in PDF, ePub and Kindle
This paper examines the shift in the relation between the inflation rate and the rate of growth of real output which has occurred in the United States over the past three decades, and attempts to assess the relative importance of three possible lines of explanation: a) the new classical view of the output-inflation tradeoff, initially specified by Lucas;b) the effect of supply-side shocks, such as energy prices; c) the effect of inflation variability on the natural rate of real output, as hypothesized by Milton Friedman. The paper concludes that b) and c) seem to have played a significant role in the observed shift from a positive to a negative correlation between the rate of inflation and the rate of real output growth,but that a) did not.
Author | : Mario I. Bléjer |
Publisher | : |
Total Pages | : 36 |
Release | : 1979 |
Genre | : Inflation (Finance) |
ISBN | : |
Download On the Effects of Inflation and Relative Price Variability on Output and Unemployment Book in PDF, ePub and Kindle
Author | : Mario I. Blejer |
Publisher | : |
Total Pages | : 16 |
Release | : 1979 |
Genre | : |
ISBN | : |
Download On the Output Inflation Trade-off in an Open Economy Book in PDF, ePub and Kindle
Author | : Richard K. Abrams |
Publisher | : |
Total Pages | : 76 |
Release | : 1980 |
Genre | : Inflation (Finance) |
ISBN | : |
Download The Variability of Output-inflation Tradeoffs Book in PDF, ePub and Kindle
Author | : Eric Hansen |
Publisher | : |
Total Pages | : 48 |
Release | : 1996 |
Genre | : Consumer price indexes |
ISBN | : |
Download Price Level Versus Inflation Rate Targets in an Open Economy with Overlapping Wage Contracts Book in PDF, ePub and Kindle
Author | : Assaf Razin |
Publisher | : |
Total Pages | : 46 |
Release | : 2005 |
Genre | : Fiscal policy |
ISBN | : |
Download Globalization and Inflation-output Tradeoffs Book in PDF, ePub and Kindle
"We demonstrate how capital account and trade account liberalizations help reduce inefficiencies associated with the fluctuations in the output gap, relative to the inefficiencies associated with the fluctuations in inflation. With capital account liberalization the representative household is able to smooth fluctuations in consumption, and thus becomes relatively insensitive to fluctuations in the output gap. With trade liberalization the economy tends to specialize in production but not in consumption. The correlation between fluctuations in the output gap and aggregate consumption is therefore weakened by trade openness; hence a smaller weight on the output gap in the utility-based loss function, compared to the closed economy situations. A key implication of the theory is that globalization forces could induce monetary authorities, to put a greater emphasis on reducing the inflation rate than on narrowing the output gaps. We provide a re- interpretation of the evidence on the effect of openness on the sacrifice ratio which supports the prediction of the theory"--National Bureau of Economic Research web site.
Author | : Robert E. Lucas (Jr.) |
Publisher | : |
Total Pages | : 9 |
Release | : 2011 |
Genre | : Inflation (Finance) |
ISBN | : |
Download Some International Evidence on Output-inflation Tradeoffs Book in PDF, ePub and Kindle
"This article introduces a tight but stylized model in which market participants must make decisions without knowing whether local changes in price signal changes in relative price or merely reflect changes in the general price level; they do, however, know the statistical properties of both processes. From this basis emerges a naturalrate model in which the ratio of real-output change to price-level change in response to exogenous shifts in aggregate expenditure depends on the relative variance of those processes. Time-series cross-section data for a number of countries provide some weak evidence consistent with the basic conclusion. The underlying assumption has gone out of favor, but the modeling technique has been very influential."--Abstract.