Blar i Arbeidsnotater / Working Papers på emneord "inflation"

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    • Did monetary policy kill the Phillips Curve? Some simple arithmetics 

      Bergholt, Drago; Furlanetto, Francesco; Vaccaro-Grange, Etienne (Working paper;2/2023, Working paper, 2023)
      An apparent disconnect has taken place between inflation and economic activity in the US over the last 25 years, with price inflation remaining remarkably stable in spite of large fluctuations in the output gap and other ...

    • Explaining the Low US Inflation – Coincidence or “New Economy”? Evidence Based on a Wage-Price Spiral 

      Claussen, Carl Andreas; Staehr, Karsten (Working Papers;2/2001, Working paper, 2001)
      We study possible factors behind the subdued inflation in the United States since the mid-1990s. A standard expectations-augmented Phillips curve does not exhibit structural breaks. However, a wage-price spiral comprising ...

    • Modelling Inflation in the Euro Area 

      Jansen, Eilev S. (Working Papers;10/2004, Working paper, 2004)
      The paper presents an incomplete competition model (ICM), where inflation is determined jointly with unit labour cost growth. The ICM is estimated on data for the Euro area and evaluated against existing models, i.e. the ...

    • Testing for a Time-Varying Price-Cost Markup in the Euro Area Inflation Process 

      Bowdler, Christopher; Jansen, Eilev S. (Working Papers;9/2004, Working paper, 2004)
      Empirical models of inflation often incorporate equilibrium correction effects based upon levels of prices and input costs. Such models assume that the steady-state price-cost markup is constant, but recent research suggests ...

    • The Costs of Price Stability – Downward Nominal Wage Rigidity in Europe 

      Holden, Steinar (Working Papers;8/2002, Working paper, 2002)
      In most European countries, the prevailing terms of employment, including the nominal wage, can only be changed by mutual consent. If inflation is so low that nominal wages have to be cut, the workers have strategic advantage ...

    • Wage Formation Under Low Inflation 

      Holden, Steinar (Working Papers;14/2004, Working paper, 2004)
      This paper reviews the literature on the effects of low steady-state inflation on wage formation, focusing on four different effects. First, under low inflation, downward nominal wage rigidity (DNWR) may prevent real wage ...

    • What Horizon for Targeting Inflation? 

      Akram, Q. Farooq (Working Papers;13/2007, Working paper, 2007)
      We investigate optimal horizons for targeting inflation in response to different shocks and their properties under alternative preferences of an inflation-targeting central bank. Our analysis is based on a well specified ...