Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This study establishes a framework for analyzing the major determinants of inflation in the Islamic Republic of Iran. An empirical model was estimated by taking into consideration disequilibria in the markets for money, foreign exchange, and goods. Results strongly support the need for a sustained prudent monetary policy in order to reduce inflation and stabilize the foreign exchange market. The estimation shows that an excess money supply generates an increase in the rate of inflation that, in turn, intensifies asset substitution (from money to foreign exchange), thereby weakening real demand for money and exerting pressures on the foreign exchange market. The study also found that a permanent rise in real income tends to increase the real demand for money and reduces inflation in the long run.

Foreign Exchange --- Inflation --- Money and Monetary Policy --- Price Level --- Deflation --- Demand for Money --- Economywide Country Studies: Asia including Middle East --- Currency --- Foreign exchange --- Macroeconomics --- Monetary economics --- Exchange rates --- Multiple currency practices --- Demand for money --- Prices --- Money --- Iran, Islamic Republic of

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Empirical evidence on the distribution of relative price changes almost invariably reveals high kurtosis and a tendency toward right-skewness. Simple mixed distribution models including volatile and infrequently adjusted prices can account for these and other common features, such as correlation between the mean and variance of relative prices. In such circumstances, robust measures of central tendency are likely to outperform the mean or standard measures of “core” inflation as indicators of generalized inflation. The analysis also supports the use of geometric averaging in CPI construction and the targeting of the geometric mean inflation rate rather than the Laspeyres mean.

Inflation --- Macroeconomics --- Demography --- Index Numbers and Aggregation --- leading indicators --- Price Level --- Deflation --- Monetary Policy --- Demographic Economics: General --- Population & demography --- Population and demographics --- Consumer price indexes --- Consumer prices --- Price indexes --- Prices --- Population --- United States

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Ireland continues to achieve spectacular economic growth. Strains associated with the rapid growth have become more visible. Fiscal policy should be tightened to restrain excess demand pressures. Strict adherence to the agreed wage increases under the Programme for Prosperity and Fairness (PPF) is critical. The government's plans to simplify the tax structure are commended. Ireland's participation in the Financial Sector Assessment Program (FSAP) pilot project is commended. The sustained rapid growth in private sector lending requires vigilance. The government support for trade liberalization process is welcome.

Inflation --- Labor --- Macroeconomics --- Public Finance --- Price Level --- Deflation --- Fiscal Policy --- Wages, Compensation, and Labor Costs: General --- Labour --- income economics --- Fiscal policy --- Fiscal stance --- Wages --- Public sector wages --- Prices --- Ireland

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

For a sample of US industries, nominal wage and price inflation follow aggregate price inflation closely during economic expansions. Hence, fluctuations in profit markup and real output are moderate in the face of expansionary demand shocks. During recessions, however, industrial nominal wage deflation exceeds that of the aggregate price level. This is in contras to producers’ attempt to maintain, or even increase, industrial real price inflation during recessions. Consistently, the increase in the profit markup is correlated with an increase in output contraction and a reduction in workers’ real standard of living during recessions.

Inflation --- Labor --- Macroeconomics --- Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data) --- Wages, Compensation, and Labor Costs: General --- Price Level --- Deflation --- Wages, Compensation, and Labor Costs: Public Policy --- Methodology for Collecting, Estimating, and Organizing Macroeconomic Data --- Data Access --- Labour --- income economics --- Economic growth --- Wages --- Real wages --- Business cycles --- Wage indexation --- Prices --- Cost of living --- Cost and standard of living --- United States

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper reviews a number of different methods that can be used to estimate potential output and the output gap. Measures of potential output and the output gap are useful to help identify the scope for sustainable noninflationary growth and to allow an assessment of the stance of macroeconomic policies. The paper then compares results from some of these methods to the case of Sweden, showing the range of estimates.

Inflation --- Labor --- Production and Operations Management --- Business Fluctuations --- Cycles --- Time-Series Models --- Dynamic Quantile Regressions --- Dynamic Treatment Effect Models --- Diffusion Processes --- State Space Models --- Macroeconomics: Production --- Unemployment: Models, Duration, Incidence, and Job Search --- Price Level --- Deflation --- Macroeconomics --- Labour --- income economics --- Potential output --- Output gap --- Unemployment --- Unemployment rate --- Production --- Prices --- Economic theory --- Sweden