Róbinson Rojas - 1994
Inflation - definition and measurement
...if supply responds fairly soon, maintaining an upward slopping
supply curve, then price per unit of output will increase, but so
output will increase, which will lead to more employment (less
unemployment) in the short- and medium-term. In this situation, there
will be 'trade-off' between unemployment and inflation. This situation
is called "output inflation". Keynesians take that this is the most
common status of the national economy, and it does happen in the stage
of recovery (boom) in the business cycle...
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Inflation and Financial
Development: Evidence from Brazil
Manoel Bittencourt - 2008
We examine the impact of inflation on financial development in Brazil
and the data available permit us to cover the period between 1985 and
2002. The results - based initially on time-series and then on panel
time-series data and analysis, and robust for different estimators and
financial development measures - suggest that inflation presented
deleterious effects on financial development at the time. The main
implication of the results is that poor macroeconomic performance has
detrimental effects to financial development, a variable that is
important for affecting, for example, economic growth and income
inequality. Therefore, low and stable inflation, and all that it
encompasses, is a necessary first step to achieve a deeper and more
active financial sector with all its attached benefits.
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Argentina’s Monetary and
Exchange Rate Policies after the Convertibility
Regime Collapse
April 2007, Roberto Frenkel and Martín Rapetti
This paper offers a comprehensive look at how Argentina
managed a remarkable economic recovery from its collapse in 2001. The
authors
show how the Argentine government's policy of targeting a stable and
competitive
real exchange rate was crucial to the country's economic recovery. They
also
analyze the various sources of aggregate demand and government revenue
in
different phases of the expansion. In addition to the crucial role of
the
exchange rate, the authors look at other policies — such as an
export
tax, capital controls, and the default on much of the country's
sovereign debt —
which were met with disapproval by many economists and other
commentators but
played an important role in the recovery.
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Event at CEPR:
Inflation Targeting,
Employment Creation, and Economic Development
May 17 and May 18, 2006 Washington, D.C.
"Inflation targeting" has become the operational objective for many
central banks around the world. By one recent count, twenty-three
countries had adopted formal inflation targeting as of 2006 and more
are on the way.
This almost single minded concern with inflation, however, leaves many
important questions unanswered: Is inflation targeting really the best
framework for developing country central banks to adopt even if they
face relatively low rates of employment generation together with a high
rate of poverty incidence? What are the concrete alternatives to
inflation targeting and how would they operate under the constraints
and conditionalities of a globalized world economy characterized by
high finance capital mobility?
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The Bank of England
Inflation Report By Date:
Projections
How to Obtain
Numerical
Parameters of Inflation Report Distribution
2008
2007 2006 2005 2004 2003 2002 2001 2000 1999
1998 1997
Released in 2008
May 2008
Download PDF | Read Opening Remarks | Download
in sections | Read
overview | Charts
and Tables | Watch
Webcast
Read Press Conference Transcript
Previous
February 2008
Download PDF | Read Opening Remarks |
Charts and Tables | Watch
Webcast
Read Press Conference Transcript
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From economics.about.com
Inflation and Deflation
Inflation is one of the most important variables in economics, as its
impact is felt on everything from mortgage rates to union-management
contract negotiations
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CEPR on inflation in the US
Inflation Could Pose a
Problem for Housing Recovery
May 21, 2008 - By Dean Baker
Prices in the bottom third of the market have fallen more sharply than
the market average.
In spite of the sharp jump in the price of oil and other commodities,
the core inflation rate has remained relatively mild at both the
consumer level and the finished goods level in the Producer Price Index
(PPI). This may be changing. The April PPI report released yesterday
showed the core finished goods index rising by 0.4 percent. It has now
risen at a 5.0 percent annual rate over the last quarter. There is much
more inflation in the pipeline, with the core intermediate goods index
rising 1.2 percent in April, brining the annual inflation rate in the
core index to 12.4 percent over the last quarter.
CPI Inflation Remains Tame
in April
By Dean Baker - May 14 2008
Since January, medical care costs have risen at a 1.2 percent rate,
while jobs have grown at a 3.1 percent rate. Retail inflation remained
mild in April as the overall CPI increased by 0.2 percent, while core
inflation rose by just 0.1 percent. The annual rate over the last three
months in the overall CPI has been 2.3 percent, down from 3.9 percent
over the last year. The annual rate in the core has been just 1.2
percent over the last three months, down from a 2.3 percent rate over
the last year.
Lower Health and Housing
Inflation Leave Overall and Core CPI Flat in February
March 14, 2008 - By Dean Baker
Higher import prices and weak productivity growth are likely to lead to
higher inflation. The overall CPI was unchanged in February as a 0.5
percent drop in energy prices offset a 0.4 percent rise in food prices.
The core index was also flat as inflation moderated in several areas
and apparel and car prices fell for the month. Over the last three
months the overall CPI has risen at a 3.1 percent annual rate, down
from a 4.0 percent rise over the last year. The core rate has risen at
a 2.3 percent annual rate over the last three months, the same as its
rate over the last year.
While the inflation news is encouraging, it is likely that this report
is somewhat of an anomaly. Last month, inflation in both the core and
overall CPI was higher than expected. It is likely that more price
increases were picked up in the data in January and therefore the price
rises were less than might otherwise have been the case for February.
Housing Continues to Hold
Down Core Inflation in June
July 18, 2007 - By Dean Baker
The core CPI, excluding owner occupied housing, rose at a 2.5 percent
rate in the quarter. The overall CPI rose by 0.2 percent in June,
bringing the annual inflation rate over the last quarter to 5.2
percent. This is up from a 2.7 percent rate over the last year, and
considerably higher than the 4.0 percent rate of wage increase over the
quarter. The core index also rose by 0.2 percent in June, as a 0.5
percent jump in food prices was offset by a 0.5 percent decline in
energy prices. The core index has risen at a 2.3 percent rate over the
last quarter, almost identical to the 2.2 percent rate over the last
year.
One of the biggest factors helping to contain core inflation has been
the weakness of the housing market.
Food and Energy Prices
Cause High Inflation in April
By Dean Baker - May 15, 2007
Wage growth is lagging far behind inflation.
A 0.4 percent rise in food prices, coupled with a 2.4 percent jump in
energy prices, pushed the CPI up by 0.4 percent in April. This brings
the annual rate of increase over the last three months to 5.7 percent,
approximately 2 percentage points above the rate of wage growth over
this period. The core inflation rate was just 0.2 percent, held down by
falling apparel prices and slower rental inflation. The core inflation
rate for the last three months has been just 1.9 percent, down slightly
from its 2.3 percent rate over the last year.
Jump in Medical Costs
Pushes Core Inflation Higher
February 21, 2007 - By Dean Baker
A glut of vacant units is holding down rents. An extraordinary 0.8
percent jump in medical care costs led to a higher than expected 0.3
percent core inflation rate in January. The overall inflation rate for
January was 0.2 percent, as a 1.5 percent fall in energy prices more
than offset a 0.7 percent increase in food prices in January. The
annual inflation rate in the core over the last three months has been
2.0 percent, down from a 2.7 percent rate over the last year. The
overall inflation rate has been 2.7 percent over the last three months,
up from 2.1 percent over the last year. The jump in medical care costs
reported for January will not be repeated, but it suggests that the
moderation in medical care inflation reported in prior months’ price
data was an anomaly.
Falling Car and
Airfare Prices Leave Core Inflation Unchanged
By Dean Baker - December 15, 2006
Car prices shaved 0.6pp off the core inflation rate in the last three
months. Both the overall and core (excluding food and energy) consumer
price indices were unchanged in November. The consensus forecast was
that both indices would show a 0.2 percent increase. The overall CPI
has now fallen at a 3.9 percent annual rate in the last three months,
compared to an increase of 2.0 percent over the last year. The core CPI
has risen at a 1.6 percent annual rate over the last three months, down
from a 2.6 percent rate over the last year.
Zero-Inflation
Madness: Going for Broke
By Mark Weisbrot - July 24, 1997, Minneapolis Star Tribune
There's something a little twisted about a gathering of central bankers
over the Labor Day weekend, where they argue about how to worsen the
already insecure situation of working people.
No smoked-filled rooms for these guys. With their allies in the
economics profession and among financial analysts, they met under the
broad expanse of Western skies at Jackson Hole, Wyoming to discuss
their theories. And no conspiracies, either: they blab freely to the
press. Sounds exaggerated? Take Martin Feldstein, former chief
economist under President Reagan and an economic adviser to the Dole
campaign. He argued at the conference that the Fed could reduce
inflation by another two percentage points, by causing a recession that
would cut output by five percent. Never mind the millions of people who
would lose their jobs in such a move. His only lament is that "There is
no political support for that now."
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Fenetre sur
l'Europe
Fenêtre sur l’Europe est une association à but
non lucratif (loi d’association de 1908). Elle a pour objectif de
contribuer à informer sur l'Europe, un maximum de citoyens.
Fenetreeurope.com est un portail d'information multimédia sur
l'actualité européenne.
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