Differing degree of price flexibilities and the policy ineffectiveness proposition

Autor:	David A. Hennessy, Stephen Devadoss
Rok vydání:	1996
Předmět:	Macroeconomics Inflation Economics and Econometrics media_common.quotation_subject Control (management) Policy-ineffectiveness proposition Economics Price level Monetary economics Degree (music) media_common
Zdroj:	Applied Economics. 28:1059-1065
ISSN:	1466-4283 0003-6846
DOI:	10.1080/000368496327903
Popis:	Price regulations impart stickiness to prices. The degree of response is analysed for three CPI subindex inflations - freely determined, regulated and mixed prices - and of aggregate CPI inflation to anticipated and unanticipated monetary policies. Freely determined prices and aggregate CPI show similar responses but faster and larger adjustments than regulated prices to anticipated monetary policies. The results imply that the extent to which monetary policies can influence prices depends on the degree of price inertia in various sectors. For monetary authorities to control inflation effectively, they need to focus on price movements in various sectors.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::fb4624587c9ca9c9e5a12d1bd46ad816 https://doi.org/10.1080/000368496327903 Zobrazit plný text záznamu Plný text ve formátu PDF