The Long-Run Effect of Permanent Disinflations
AbstractThis paper looks at the long term output effect of those monetary policies aimed at reducing inflation from its peak by late seventies, in nine major OECD countries. The estimated effect depends on the way nominal shocks are identified. Alternatively to the cross-country regression analysis we estimate a structural VAR model in output, inflation and unemployment.
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Bibliographic InfoPaper provided by Banco de Espa�a in its series Banco de Espa�a Working Papers with number 9825.
Length: 55 pages
Date of creation: 1998
Date of revision:
INFLATION ; PRICES ; CENTRAL BANKS ; ECONOMIC GROWTH;
Find related papers by JEL classification:
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
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- Manuel Balmaseda & Miguel Sebastián & Patry Tello, 2002. "Spain Accession to the EMU - A Long and Hilly Road," The Economic and Social Review, Economic and Social Studies, vol. 33(2), pages 195-222.
- Fève, Patrick & Matheron, Julien & Sahuc, Jean-Guillaume, 2009.
"Disinflation Shocks in the Eurozone: a DSGE Perspective,"
TSE Working Papers
09-080, Toulouse School of Economics (TSE).
- Patrick Fève & Julien Matheron & Jean-Guillaume Sahuc, 2010. "Disinflation Shocks in the Eurozone: A DSGE Perspective," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(2-3), pages 289-323, 03.
- Fève, Patrick & Matheron, Julien & Sahuc, Jean-Guillaume, 2007. "Disinflation Shocks in the Eurozone: a DSGE Perspective," IDEI Working Papers 483, Institut d'Économie Industrielle (IDEI), Toulouse.
- Ángel Estrada & Ignacio Hernando & J. David López-Salido, 2000. "Measuring the NAIRU in the Spanish Economy," Banco de Espaï¿½a Working Papers 0009, Banco de Espa�a.
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