| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6805 |
| DP6805 A Theory of Regular Markov Perfect Equilibria in Dynamic Stochastic Games: Genericity, Stability, and Purification | |
| Ulrich Doraszelski; Juan Escobar | |
| 发表日期 | 2008-04-18 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | Several industrialised countries have had a similar inflation experience in the past 30 years, with inflation high and volatile in the 1970s and the 1980s but low and stable in the most recent period. We explore the dynamics of inflation in these countries via a time-varying factor model. This statistical model is used to describe movements in inflation that are idiosyncratic or country specific and those that are common across countries. In addition, we investigate how comovement has varied across the sample period. Our results indicate that there has been a decline in the level, persistence and volatility of inflation across our sample of industrialised countries. In addition, there has been a change in the degree of comovement, with the level and persistence of national inflation rates moving more closely together since the mid-1980s. |
| 主题 | International Macroeconomics |
| 关键词 | Low inflation Factor model Time variation monetary policy |
| URL | https://cepr.org/publications/dp6805 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535614 |
| 推荐引用方式 GB/T 7714 | Ulrich Doraszelski,Juan Escobar. DP6805 A Theory of Regular Markov Perfect Equilibria in Dynamic Stochastic Games: Genericity, Stability, and Purification. 2008. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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