Disinflation in New Zealand*
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چکیده
منابع مشابه
Understanding the disinflations in Australia, Canada and New Zealand using evidence from smooth transition analysis
This paper investigates the disinflation experiences of three countries, Australia, Canada and New Zealand. Unlike previous approaches which have sought to use institutional data to pre-determine the causes, speed and duration of the transitions to low inflation regimes this paper allows price data itself to determine the speed and timing of the reforms using smooth transition analysis. The res...
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متن کاملHistorical Origins of the Cost-Push Fallacy
B y the end of 1998, the disinflation of the 1990s had brought the U.S. price level close to absolute stability. The same disinflation witnessed a remarkable resurgence of what used to be called cost-push theories of price-level movements to explain it. Such theories, of course, attribute inflation and disinflation to a host of nonmonetary, supply-oriented influences that alter the unit cost an...
متن کاملImperfectly Credible Disinflation under Endogenous Time-Dependent Pricing
The real effects of an imperfectly credible disinflation depend critically on the extent of price rigidity. In this paper, we examine how credibility affects the outcome of a disinflation in a model with endogenous time-dependent pricing rules. Both the endogenous initial degree of price rigidity and changes in the duration of price spells during disinflation play an important role in explainin...
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تاریخ انتشار 1998