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Inflation Targets, Credibility, And Persistence In A Simple Sticky-Price Framework
White Papers This paper presents a re-formulated version of a canonical sticky-price model that has been extended to account for variations over time in the central bank's inflation target. The model is used to explore topics relating to the effects of...
[June 22, 2005, 0:00]
Inflation And Inequality
White Papers Observations from a large sample of countries for the time period between 1966 and 1990 reveal a positive correlation between average inflation and measures of income inequality. The paper describes a political economy model in which equilibrium...
[June 24, 2005, 0:00]
UK Tech Spending Set To Beat Inflation
News Technology spending in the UK is likely to increase at a quicker rate than inflation over the next 12 months, despite an uncertain economic climate. According to research by the National Computing Centre (NCC), around 58 percent of companies will...
[March 11, 2008, 8:54]
Portable Memory Makes The 'inflation Basket'
Blog Every year the "inflation basket" - the theoretical shopping basket of standard products that can be used to measure inflation - gains and loses a few items. It's a good indicator of where we're at, societally speaking, and this year one of the...
[March 19, 2008, 11:04]
Uncovering Inflation Expectations And Risk Premiums From Internationally Integrated Financial Markets
White Papers Theory and empirical evidence suggest that the term structure of interest rates reflects risk premiums as well as market expectations about future inflation and real interest rates. This approach involves estimating a multi-factor affine-yield...
[September 19, 2003, 0:00]
Is Poland Ready For Inflation Targeting?
White Papers Monetary policymakers in advanced transition economies such as Poland are increasingly interested in how inflation responds to changes in policy instruments and other economic forces. In this paper, measures of underlying CPI inflation based upon...
[September 19, 2003, 0:00]
Can Rational Expectations Sticky-Price Models Explain Inflation Dynamics?
White Papers The canonical inflation specification in sticky-price rational expectations models (the new-Keynesian Phillips curve) is often criticized on the grounds that it fails to account for the dependence of inflation on its own lags.
[June 22, 2005, 0:00]
E-commerce To Count In Inflation Statistics
News The RPI is taken as a measure of inflation and the Office for National Statistics (ONS) is considering including Internet shopping in next years' index. Although this may happen as early as next year, he is not sure online shopping will have as big...
[October 12, 1999, 14:35]
Avoiding Nash Inflation: Bayesian And Robust Responses To Model Uncertainty
White Papers The laboratory for the analysis is the Sargent (1999) explanation for the origins of inflation in the 1970s and the subsequent disinflation. This paper examines learning, model misspecification, and robust policy responses to misspecification in a...
[June 28, 2005, 0:00]
A Monetary Policy Rule Based On Nominal And Inflation-Indexed Treasury Yields
White Papers The yields on nominal and inflation-indexed Treasury debt securities can be used to derive a proxy for the inflation expectations of financial market participants. This finding suggests that the inflation compensation measure serves as a summary...
[June 28, 2005, 0:00]
Broad Money: A Guide For Monetary Policy
White Papers There is widespread agreement that in the long run, inflation is a monetary phenomenon. From a policy perspective, two ideas help establish that money is an important policy variable contributing to inflation.
[September 15, 2003, 0:00]
Obstacles To Disinflation: What Is The Role Of Fiscal Expectations?
White Papers Is backward-looking behavior in pricing or imperfect credibility of stabilization efforts responsible for the failure of inflation rates to decline to targeted levels during many disinflation programs?
[July 14, 2005, 0:00]
New Tests Of The New-Keynesian Phillips Curve
White Papers Is the observed correlation between current and lagged inflation a function of backward-looking inflation expectations, or do the lags in inflation regressions merely proxy for rational forward-looking expectations, as in the new Keynesian...
[June 29, 2005, 0:00]
Preventing Deflation: Lessons From Japan's Experience In The 1990s
White Papers This paper examines Japan's experience in the first half of the 1990s to shed some light on several issues that arise as inflation declines toward zero. How quickly should monetary policy respond to sharp declines in inflation?
[June 17, 2005, 0:00]
We're Fifty Years Into The Future
Talkback It fails to take into account inflation. According to an inflation calculator I found via Google: Your comparison of a $50 product in 1954 to a $50 memory card today is a bit off. What cost $50 in 1954 would cost $328.60 in 2003.
[October 19, 2004, 22:43]
Options For Stabilization Policy: A New Analysis Of Choices Confronting The Fed
White Papers Those models are based on the assumption that firms and workers always fully incorporate expectations of future inflation rates into their current wage and price decisions. This assumption leads to the concept of a unique natural unemployment rate...
[July 19, 2005, 0:00]
The Week Ahead: Earnings In Sight
News The Producer Price Index, which shows inflation at the wholesale level, came in at 0.3 percent for February, slightly ahead of most estimates. On Friday, the US Labor Department reported that the Consumer Price Index, the broadest inflation gauge...
[March 20, 2000, 11:07]
How DNS Misnaming Distorts Internet Topology Mapping
White Papers The paper also measures the effects on path inflation, and finds that the misnamings make path inflation and routing problems appear much worse than they actually are. Network researchers commonly use reverse DNS lookups of router names to provide...
[June 9, 2007, 0:00]
UK Markets: Another Grey Day
News Worse-than-expected inflation data from the US kicked off a disastrous wave of selling on Friday, with the Dow and Nasdaq markets suffering their worst-ever one-day point declines. UK inflation information released Tuesday morning failed to make a...
[April 18, 2000, 9:54]
Asia Entices Talent With Top Pay
News Salary inflation was seen as the second most significant challenge, mentioned by 22 percent of the respondents. Salary inflation was cited as a challenge by 17 percent of Chinese respondents. Singapore, which is facing salary-inflation pressures...
[July 30, 2007, 12:31]
