This paper provides new insight into the relationship between in‡ation and consumer price setting by examining a large data set of Mexican consumer prices covering episodes of both low and high in‡ation, as well as the transition between the two. The overall portrait is one in which the economy shares several characteristics of time dependent models when the annual in‡ation rate is low (below 1...

Recently there has been a signi"cant decline in the degree to which "rms &pass through' changes in costs to prices, a decline that is frequently characterized as a reduction in the &pricing power' of "rms. The decline appears to be associated with the decline in in#ation in many countries. The decline has important implications for monetary policy because it a!ects both forecasts of in#ation an...

The so-called P ¤ model is frequently used or referred to in discussions of monetary targeting. This gives the impression that the P ¤ model might provide some rationale for monetary targeting or for the monetary reference value used by the Eurosystem. The P ¤ model implies that in‡ation is determined by the level of and changes in the “real money gap” (the deviation of current real balances fr...

The so-called P ¤ model is frequently used or referred to in discussions of monetary targeting. This gives the impression that the P ¤ model might provide some rationale for monetary targeting or for the monetary reference value used by the Eurosystem. The P ¤ model implies that in‡ation is determined by the level of and changes in the “real money gap” (the deviation of current real balances fr...

The title compound, {[Ag(C(19)H(16)N(8))](CF(3)SO(3))}(n), is a coordin-ation polymer with cationic chain motif. The Ag(+) cation is coordinated by two unsubstituted imidazolyl N atoms of two independent 2-paBIM ligands [2-paBIM is bis-{2-[(E)-phenyl-diazen-yl]-1H-imidazol-1-yl}methane]. The shortest Ag⋯Ag separation in a cationic chain is 8.841 (2) Å and the dihedral angle between two 2-phenyl...

In the title compound, C15H16O6, obtained from the acyl-ation reaction between 2,3-O-iso-propyl-idene-d-ribono-1,4-lactone and benzoyl chloride, the known absolute configuration for the lactone moiety of the ester substituent has been confirmed. The five-membered rings of the bicyclic lactone-dioxolane moiety both show envelope conformations and form a dihedral angle of 19.82 (7)° between the l...

The title compound, C44H62O6S2 {systematic name: (1R,3aS,5aR,5bR,7aR,9S,11aR,11bR,13aR,13bR)-5a,5b,8,8,11a-penta-methyl-1-(prop-1-en-2-yl)-3a-[(tos-yloxy)meth-yl]icosa-hydro-1H-cyclo-penta-[a]chrysen-9-yl 4-methyl-benzene-sulfonate}, was obtained by tosyl-ation of naturally occurring betulin. All the cyclo-hexane rings adopt chair conformations and the cyclo-pentane ring adopts a twisted envelo...

In this paper the long-run trend in CPI in‡ation (core in‡ation) for Italy is estimated over the 1962-1997 period within the framework of a multivariate common trends model. In this framework core in‡ation is directly linked to money and wage growth and interpreted as the long-run forecast of in‡ation. This measure displays several desirable properties: lower variability than observed in‡ation,...

The crystal structure of 5-methyl-salicyl-aldehyde (5-MSA; systematic name 2-hy-droxy-5-methyl-benzaldehyde), C8H8O2, was discovered to be a textbook example of the drastic structural changes caused by just a few weak C-H⋯O inter-actions due to the additional methyl-ation of the aromatic ring compared to salicyl-aldehyde SA. This weak inter-molecular hydrogen bonding is observed between aromati...

This paper uses a structurally estimatedmacroeconometricmodel, denoted the MC model, to evaluate in ation targeting in the United States. Various interest rate rules are tried with differing weights on in ation and output, and various optimal control problems are solved using differing weights on in ation and output targets. Price-level targeting is also considered. The results show that 1) the...