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A Theoretical Model of Industrial Economy Inflationary Dynamics

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Author Info
Thomas M Fullerton Jr (University of Texas at El Paso)
Eiichi Araki (St Andrews University at Osaka)

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Abstract

A standard monetary model of inflation is augmented to include import, labor, energy, and intermediate good cost pressures. Expansion of the original monetary framework is achieved using a cost function dual of the production function. Implications for parameter magnitudes and other empirical issues are discussed with respect to potential estimation procedures.

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Publisher Info
Paper provided by EconWPA in its series Macroeconomics with number 0408007.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 10 pages
Date of creation: 10 Aug 2004
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Handle: RePEc:wpa:wuwpma:0408007

Note: Type of Document - doc; pages: 10
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Web page: http://129.3.20.41

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Related research
Keywords: Inflation; Price Dynamics;

Find related papers by JEL classification:
E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Dornbusch, Rudiger & Fischer, Stanley, 1993. "Moderate Inflation," World Bank Economic Review, Oxford University Press, vol. 7(1), pages 1-44, January.
    Other versions:
  2. Amemiya, Takeshi, 1980. "Selection of Regressors," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 21(2), pages 331-54, June. [Downloadable!] (restricted)
  3. Brian Motley, 1993. "Inflation and growth," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue Dec 31. [Downloadable!]
  4. Thomas M Fullerton Jr & Richard A Hirth & Mark B Smith, 2004. "Inflationary Dynamics and the Angell-Johnson Proposals," Macroeconomics 0409009, EconWPA. [Downloadable!]
  5. Hakkio, Craig S. & Rush, Mark, 1991. "Cointegration: how short is the long run?," Journal of International Money and Finance, Elsevier, vol. 10(4), pages 571-581, December. [Downloadable!] (restricted)
    Other versions:
  6. Vinod, Hrishikesh D, 1978. "A Survey of Ridge Regression and Related Techniques for Improvements over Ordinary Least Squares," The Review of Economics and Statistics, MIT Press, vol. 60(1), pages 121-31, February. [Downloadable!] (restricted)
  7. Engsted, Tom, 1993. "Cointegration and Cagan's Model of Hyperinflation under Rational Expectations," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 25(3), pages 350-60, August. [Downloadable!] (restricted)
  8. Thomas M Fullerton Jr & Eiichi Araki, 2004. "New Directions in Latin American Macroeconometrics," Development and Comp Systems 0408002, EconWPA. [Downloadable!]
  9. Hanson, James A., 1985. "Inflation and imported input prices in some inflationary Latin American economies," Journal of Development Economics, Elsevier, vol. 18(2-3), pages 395-410, August. [Downloadable!] (restricted)
  10. Pagan, Adrian, 1974. "A Generalised Approach to the Treatment of Autocorrelation," Australian Economic Papers, Blackwell Publishing, vol. 13(23), pages 267-80, December.
  11. Kenneth M. Emery & Chih-Ping Chang, 1997. "Is there a stable relationship between capacity utilization and inflation?," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q I, pages 14-20. [Downloadable!]
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Thomas M Fullerton Jr & Sylvanus I Ikhide, 2004. "An Econometric Analysis of the Nigerian Consumer Price Index," Development and Comp Systems 0407010, EconWPA. [Downloadable!]
Statistics
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