| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7293 |
| DP7293 Delinquent Networks | |
| Yves Zenou; Antoni Calvó-Armengol; Coralio Ballester | |
| 发表日期 | 2009-05-03 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | The paper provides an empirical analysis of inflation persistence in one of inflation targeting countries, the Czech Republic, using 412 detailed product-level consumer price indexes underlying the consumer basket over the period from 1994 to 2005. Subject to various sensitivity tests, our results suggest that raw goods and non-durables, followed by services, display smaller inflation persistence than durables and processed goods. Inflation seems to be somewhat less persistent after the adoption of inflation targeting in 1998. There is also evidence for aggregation bias, that is, aggregate inflation is found to be more persistent than the underlying detailed components. Price dispersion, as a proxy for the degree of competition, is found to be negatively related to inflation persistence, suggesting that competition is not conducive to reducing persistence. |
| 主题 | International Macroeconomics |
| 关键词 | Inflation dynamics Inflation targeting Persistence |
| URL | https://cepr.org/publications/dp7293 |
| 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/536130 |
| 推荐引用方式 GB/T 7714 | Yves Zenou,Antoni Calvó-Armengol,Coralio Ballester. DP7293 Delinquent Networks. 2009. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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