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Price stickiness, inflation, and output dynamics : a cross-country analysis / by Hashmat Khan. : FB3-2/100-12E-PDF

This paper investigates a key implication of the sticky-price model of business cycle that is designed to explain the observed persistence in output fluctuations around its long-run growth path. A prediction of this model is that a higher trend inflation rate will increase the frequency of price adjustment and thereby inversely affect the persistence in deviations of output from its trend. Therefore, countries with a high trend inflation rate should have less-persistent output fluctuations. The characteristics of the data set available to examine this hypothesis raise several implementation issues. This paper focuses on those issues in a manner that is consistent with the theoretical framework of the model.--Concluding remarks

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publications.gc.ca/pub?id=9.578632&sl=1

Renseignements sur la publication
Ministère/Organisme
  • Bank of Canada.
TitrePrice stickiness, inflation, and output dynamics : a cross-country analysis / by Hashmat Khan.
Titre de la série
  • Bank of Canada working paper 1701-9397 2000-12
Type de publicationMonographie - Voir l'enregistrement principal
Langue[Anglais]
FormatTexte numérique
Document électronique
Autres formats offertsTexte matériel-[Anglais]
Note(s)
  • "This paper investigates a key implication of the sticky-price model of business cycle that is designed to explain the observed persistence in output fluctuations around its long-run growth path. A prediction of this model is that a higher trend inflation rate will increase the frequency of price adjustment and thereby inversely affect the persistence in deviations of output from its trend. Therefore, countries with a high trend inflation rate should have less-persistent output fluctuations. The characteristics of the data set available to examine this hypothesis raise several implementation issues. This paper focuses on those issues in a manner that is consistent with the theoretical framework of the model."--Concluding remarks.
  • The ISBN (0-662-29132-8) for the print edition has been incorrectly copied in this electronic publication.
  • Résumé en français
Information sur la publication
  • Ottawa - Ontario : Bank of Canada July 2000.
Description56p.figs., graphs, references, tables
ISSN1701-9397
Numéro de catalogue
  • FB3-2/100-12E-PDF
Descripteurs
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