An edition of Assessing the benefits of price stability
(2000)
Assessing the benefits of price stability
the international experience
by Javier Andrés
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Prices, Inflation (Finance)Showing 1 featured edition. View all 1 editions?
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Assessing the benefits of price stability: the international experience
2000, Banco de España, Servicio de Estudios
in English
8477937176 9788477937173
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Book Details
Table of Contents
Machine generated contents note: INTRODUCTION 9
I. THE COSTS OF INFLATION: THEORY AND EVIDENCE 13
I.1. Theoretical considerations 13
I.2. International evidence 18
I.2.1. Model-based estimates of the welfare costs of inflation 18
I.2.2. Econometric estimates of the overall impact of inflation on economic activity 19
I.3. Inflation and growth in the OECD: Descriptive statistics 26
II. THE COSTS OF INFLATION IN CONVERGENCE EQUATIONS 35
II.1. Theoretical framework: The effect of inflation in convergence equations 36
II.2. Estimation of the effect of inflation: main results 39
II.3. Country-specific effects and the cost of inflation 43
II.4. Causality analysis 50
II.5. The role of the financial system in the growth-inflation link 57
II.5.1. Theoretical and empirical backgrounds 59
II.5.2. Indicators of financial development 61
II.5.3. Results 66
II.6. Concluding remarks 70
III. THE DYNAMIC EFFECTS OF PERMANENT DISINFLATIONS 73
III.1. The analysis of the long-run effects of disinflations: a SVAR approach 74
III.2. Inflation, output and unemployment 76
III.2.1. The model 76
III.2.2. Alternative Identifying restrictions 79
III.3. The disinflation in Spain: 1976-1996 81
III.4. International Evidence 85
III.5. Concluding remarks 90
Appendix III.1. Econometric setup 92
CONCLUSIONS 105.
Edition Notes
Includes bibliographical references (p. 107-113).
Date on cover: 2000.
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| March 11, 2019 | Created by MARC Bot | import existing book |