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Inflation Dynamics and Customer Markets: Evidence and Theory
Published on Jan 09, 20181048 Views
What accounts for the resilience for inflation in the face of substantial and long-lasting economic slack? This question has been thrust to the forefront of academic research and policy debate by the
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Chapter list
Inflation Dynamics and Customer Markets00:00
The question05:46
Producer prices and industrial production12:03
Our answer14:43
The mechanism17:29
The roadmap19:35
Data sources22:49
Industry-adjusted ppi inflation25:44
Price dynamics and financial conditions27:14
Time-varying effect of liquidity - 128:31
Time-varying effect of liquidity - 230:11
Is this a one-off event?31:32
PPi inflation and financial conditions32:15
Euro area inflation and economic activity34:25
Financial conditions and inflation dynamics35:56
Financial conditions in the euro area37:35
Financial conditions and PC prediction errors39:02
Price markups41:08
Summary - 143:03
Model overview43:53
Technology51:46
Timing52:15
Frictions53:04
Implications53:39
Demand shock during the financial crisis54:43
Differences in financial capacity57:39
Financial shock57:48
Paradox of financial strength57:49
“Price war” in response to a financial shock59:32
Summary - 201:01:36
Preferences: “deep habits”01:07:52