Is Digitalization Driving Domestic Inflation?
نویسندگان
چکیده
منابع مشابه
Domestic Money and US Output and Inflation
Recent empirical research found that the strong short-term relationship between monetary aggregates and US real output and inflation, as outlined in the classical study by M. Friedman and Schwartz, mostly disappeared since the early 1980s. In the light of the B. Friedman and Kuttner (1992) information value approach, we reevaluate the vanishing relationship between US monetary aggregates and th...
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The remarkable stability of low domestic inflation in many countries requires explanation. In this paper, a number of competing hypotheses are evaluated on a stand-alone basis, and all are found to be inadequate. This includes the view that this outcome has been solely the result of more effective disinflationary monetary policies. However, a combination of these hypotheses (including a signifi...
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There has been mounting evidence that the inflation process has been changing. Inflation is now much lower and much more stable around the globe. And its sensitivity to measures of economic slack and increases in input costs appears to have declined. Probably the most widely supported explanation for this phenomenon is that monetary policy has been much more effective. There is no doubt in our ...
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where Stock and Watson (call them SW1) impose the restriction that λ = 1, on the assumption that there is a random walk component in trend inflation, with an estimate of θ of at least 0.5, apparently with an upward trend in recent data. In data from 1980 onwards estimates of λ are significantly below unity, but not quantitatively far below, such that Stock and Watson’s (fixed coeffi cient) IMA ...
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I thank Dr. Kakuk for his response to my article. Unfortunately, he seems to have misunderstood my arguments. He claims that I “fail to differentiate the problem of authorship from the problem of IFs usage”. In fact, I never actually directly linked these two problems, except to say that both trap researchers in a prisoner’s dilemma. Kakuk also claims that “The inappropriate usage of IF is not ...
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ژورنال
عنوان ژورنال: IMF Working Papers
سال: 2019
ISSN: 1018-5941
DOI: 10.5089/9781513519944.001