Skip to main navigation Skip to main content
info(at)avldigital.remove-this.de
Deutsch English
Narrow Search
Search narrowed by
Last searches

Results for *

Displaying results 1 to 2 of 2.

  1. Deflation and relative prices
    evidence from Japan and Hong Kong
    Published: Aug. 2007
    Publisher:  WWZ, Basel

    We test the menu cost model of Ball and Mankiw (1994, 1995), which implies that the impact of price dispersion on inflation should differ between inflation and deflation episodes, using data for Japan and Hong Kong. We use a random crosssection... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    W 421 (07.08)
    Inter-library loan:
    No inter-library loan
    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 523 (2007,8)
    Inter-library loan:
    No inter-library loan

     

    We test the menu cost model of Ball and Mankiw (1994, 1995), which implies that the impact of price dispersion on inflation should differ between inflation and deflation episodes, using data for Japan and Hong Kong. We use a random crosssection sample split when calculating the moments of the distribution of price changes to mitigate the small-cross-section-sample bias noted by Cecchetti and Bryan (1999). The parameter on the third moment is positive and significant in both countries during both the inflation and deflation periods, and the parameter on the second moment changes sign in the deflation period, as the theory predicts.

     
    Export to reference management software   RIS file
      BibTeX file
    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/123372
    Series: WWZ working paper ; 07,08
    Subjects: Inflation; Deflation; Relativer Preis; Anpassungskosten; Schätzung; Hongkong; Japan; inflation; deflation; menu costs; Hong Kong; Japan
    Scope: Online-Ressource, 24 S., Text, graph. Darst.
  2. Deflation and relative prices
    evidence from Japan and Hong Kong
    Author: Gerlach, Stefan; Kugler, Peter
    Published: 2007
    Publisher:  Johann Wolfgang Goethe-Univ., Frankfurt am Main

    We test the menu cost model of Ball and Mankiw (1994, 1995), which implies that the impact of price dispersion on inflation should differ between inflation and deflation episodes, using data for Japan and Hong Kong. We use a random cross-section... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 464 (12)
    Inter-library loan:
    No inter-library loan

     

    We test the menu cost model of Ball and Mankiw (1994, 1995), which implies that the impact of price dispersion on inflation should differ between inflation and deflation episodes, using data for Japan and Hong Kong. We use a random cross-section sample split when calculating the moments of the distribution of price changes to mitigate the small-cross-sectionsample bias noted by Cecchetti and Bryan (1999). The parameter on the third moment is positive and significant in both countries during both the inflation and deflation periods, and the parameter on the second moment changes sign in the deflation period, as the theory predicts. Keywords: inflation, deflation, menu costs, Hong Kong, Japan.

     
    Export to reference management software   RIS file
      BibTeX file
    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/97771
    Series: Working paper series / Institute for Monetary and Financial Stability ; 12
    Subjects: inflation; deflation; menu costs; Hong Kong; Japan
    Scope: Online-Resource (25 S.), graph. Darst.