Are Prices Countercyclical? : Evidence From the G-7 /

This paper re-examines the cyclical behavior of prices using postwar quarterly data for the G-7. We confirm recent evidence that the price level is countercyclical. However, we find strong evidence that the inflation rate is procyclical in our sample. Our results show the importance of making a clea...

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Detalhes bibliográficos
Autor principal: Prasad, Eswar
Outros Autores: Chadha, Bankim
Formato: Periódico
Idioma:English
Publicado em: Washington, D.C. : International Monetary Fund, 1994.
Colecção:IMF Working Papers; Working Paper ; No. 1994/091
Acesso em linha:Full text available on IMF
Descrição
Resumo:This paper re-examines the cyclical behavior of prices using postwar quarterly data for the G-7. We confirm recent evidence that the price level is countercyclical. However, we find strong evidence that the inflation rate is procyclical in our sample. Our results show the importance of making a clear distinction between inflation and the cyclical component of the price level when reporting and interpreting stylized facts regarding business cycles.
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Descrição Física:1 online resource (28 pages)
Formato:Mode of access: Internet
ISSN:1018-5941
Acesso:Electronic access restricted to authorized BRAC University faculty, staff and students