Author: John P. JuddPublisher:
ISBN:
Category :
Languages : en
Pages : 20
Book Description
The Cyclical Behavior of Prices: Interpreting the Evidence
Author: John P. JuddAre Prices Countercyclical? Evidence From the G-7
Author: Mr.Bankim ChadhaPublisher: International Monetary Fund
ISBN: 1451851472
Category : Business & Economics
Languages : en
Pages : 28
Book Description
This paper re-examines the cyclical behavior of prices using postwar quarterly data for the G-7. We confirm recent evidence that the price level is countercyclical. However, we find strong evidence that the inflation rate is procyclical in our sample. Our results show the importance of making a clear distinction between inflation and the cyclical component of the price level when reporting and interpreting stylized facts regarding business cycles.
The Cyclical Behavior of Prices
Author: John P. JuddPublisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 34
Book Description
Are Prices Countercvclical?
Author: Bankim ChadhaPublisher:
ISBN:
Category :
Languages : en
Pages : 28
Book Description
This paper re-examines the cyclical behavior of prices using postwar quarterly data for the G-7. We confirm recent evidence that the price level is countercyclical. However, we find strong evidence that the inflation rate is procyclical in our sample. Our results show the importance of making a clear distinction between inflation and the cyclical component of the price level when reporting and interpreting stylized facts regarding business cycles.
Modeling the Cyclical Behavior of Prices
Author: Eric P. BettingerPublisher:
ISBN:
Category : Business cycles
Languages : en
Pages :
Book Description
Monetary Theory and Policy, third edition
Author: Carl E. WalshPublisher: MIT Press
ISBN: 0262303736
Category : Business & Economics
Languages : en
Pages : 639
Book Description
A new edition of the leading text in monetary economics, a comprehensive treatment revised and enhanced with new material reflecting recent advances in the field. This text presents a comprehensive treatment of the most important topics in monetary economics, focusing on the primary models monetary economists have employed to address topics in theory and policy. It covers the basic theoretical approaches, shows how to do simulation work with the models, and discusses the full range of frictions that economists have studied to understand the impacts of monetary policy. Among the topics presented are money-in-the-utility function, cash-in-advance, and search models of money; informational, portfolio, and nominal rigidities; credit frictions; the open economy; and issues of monetary policy, including discretion and commitment, policy analysis in new Keynesian models, and monetary operating procedures. The use of models based on dynamic optimization and nominal rigidities in consistent general equilibrium frameworks, relatively new when introduced to students in the first edition of this popular text, has since become the method of choice of monetary policy analysis. This third edition reflects the latest advances in the field, incorporating new or expanded material on such topics as monetary search equilibria, sticky information, adaptive learning, state-contingent pricing models, and channel systems for implementing monetary policy. Much of the material on policy analysis has been reorganized to reflect the dominance of the new Keynesian approach. Monetary Theory and Policy continues to be the only comprehensive and up-to-date treatment of monetary economics, not only the leading text in the field but also the standard reference for academics and central bank researchers.
Monetary Theory and Policy
Author: Carl E. WalshPublisher: MIT Press
ISBN: 9780262232319
Category : Business & Economics
Languages : en
Pages : 636
Book Description
An overview of recent theoretical and policy-related developments in monetary economics.
The Cyclical Behavior of Prices
Author: Geoffrey Hoyt MoorePublisher:
ISBN:
Category : Price indexes
Languages : en
Pages : 50
Book Description
Southern Economic Journal
Author: Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 1076
Book Description
Contains section : Book reviews.
The Cyclical Behavior of the Price-Cost Markup
Author: Christopher J. NekardaPublisher:
ISBN:
Category : Economics
Languages : en
Pages :
Book Description
A countercyclical markup of price over marginal cost is the key transmission mechanism for demand shocks in textbook New Keynesian (NK) models. This paper re-examines the foundation of those models. We study the cyclicality of markups in the private economy as well as in detailed manufacturing industries. First, we show that frameworks for measuring markups that have produced the strongest evidence for countercyclicality produce the opposite result when we substitute new methods and data. Second, because the NK model's predictions differ by the nature of the shock, we present evidence on the cyclicality of the markup conditional on various types of shocks. Consistent with the NK model, we find that markups are procyclical conditional on a technology shock. However, we find that they are either procyclical or acyclical conditional on demand shocks. Thus, the textbook NK explanation for the effects of government spending or monetary policy is not supported by the behavior of the markup.