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Price Stability in the Periphery during the International Gold Standard: Scandinavia

In: The Gold Standard Peripheries

Author

Listed:
  • Ola Honningdal Grytten
  • Arngrim Hunnes

Abstract

According to Willis, there are two main statistical measures that have been employed in recent research when investigating inflation dynamics. These are Volatility, or how much inflation varies quarter to quarter or year to year; and persistence, or the speed with which inflation returns to baseline after a shock’.1 Furthermore, ‘Other things equal, less persistence leads to less variability. Lower persistence is associated with faster but smaller swings in inflation over time that, in statistical terms, reduce the overall variability of inflation.’2

Suggested Citation

  • Ola Honningdal Grytten & Arngrim Hunnes, 2012. "Price Stability in the Periphery during the International Gold Standard: Scandinavia," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Anders Ögren & Lars Fredrik Øksendal (ed.), The Gold Standard Peripheries, chapter 4, pages 58-80, Palgrave Macmillan.
  • Handle: RePEc:pal:pmschp:978-0-230-36231-4_4
    DOI: 10.1057/9780230362314_4
    as

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