Skip to main content
Fachgebiete
Automobil + Motoren Bauwesen + Immobilien Business IT + Informatik Elektrotechnik + Elektronik Energie + Nachhaltigkeit Finance + Banking Management + Führung Marketing + Vertrieb Maschinenbau + Werkstoffe Versicherung + Risiko
DE
EN
Themenseiten
Organisationspsychologie Projektmanagement Marketing Smart Manufacturing
Bücher
Zeitschriften
Weitere Formate
Podcasts Webinare Technik Webinare Wirtschaft Kongresse Veranstaltungskalender Awards
Jetzt Einzelzugang starten
Zugang für Unternehmen
Referenzkunden
MTZ-Fachkongress

Antriebe und Energiesysteme von morgen


Austausch von Automobil- und Energiewirtschaft

Am 14./15. Mai geht es in Chemnitz um die Mobilitätswende durch Elektro- und Wasserstofffahrzeuge.
Erweiterte Suche
Anmelden
nach oben
Erschienen in:
Introduction Kapitel lesen Erstes Kapitel lesen

2019 | OriginalPaper | Buchkapitel

21. Do Inflation Regimes Affect the Transmission of Positive Nominal Demand Shocks to the Consumer Price Level?

verfasst von : Eliphas Ndou, Thabo Mokoena

Erschienen in: Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty

Verlag: Springer International Publishing

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config
loading …

Abstract

Evidence reveals that real output rises much higher in the low inflation regime than in the high inflation regime. Thus, a nominal demand policy shock affecting aggregate demand will have a bigger effect on real output in the low inflation regime than in the high inflation regime. We find that inflation rises and fluctuates much higher in the high inflation regime than in the low inflation regime, following a nominal demand shock. Evidence confirms the new Keynesian hypothesis, which implies that a demand policy is less effective in countries with high trend inflation and where prices are less rigid.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

Jetzt informieren
Vorheriges Kapitel To What Extent Does the Output-Inflation Trade-Off Exist in South Africa and Is It Impacted by the Six Per Cent Inflation Threshold?
Nächstes Kapitel Do Positive Nominal Volatility Shockspositive nominal volatility shocks Reduce the Output-Inflation Trade-OffOutput-inflation trade-off and Is There a Role for Inflation Regimesinflation regimes?
Fußnoten
1
The new classical economics suggests that policy intervention should not exist because inflation is costlier than unemployment, and that the short-run Philips curve is very steep and a self-correcting economy works smoothly and quickly. By contrast, the new Keynesian theory suggests that there should be policy interventions, because unemployment is costlier than inflation. In this context, the Philips curve is flat and a self-correcting mechanism is rather slow and unreliable.
 
2
This follows the new Keynesian hypothesis, which implies that a demand policy is less effective in high-trend inflation, especially where prices are less rigid. In addition, due to nominal rigidities arising from the adjustment costs or staggered contracts, prices do not adjust fully to compensate for the shifts in nominal demand such that changes in the nominal demand have real effect (Sun 2012).
 
3
Literature points that inflation is either I(0) or I(1).
 
Literatur
Ball, L., Mankiw, N. G., & Romer, D. (1988). The new Keynesian economics and the output-inflation tradeoff. Brooking chapters on Economic Activity, 1, 1–65.
Ndou, E., & Gumata, N. (2017). Inflation dynamics in South Africa, the role of thresholds, exchange rate pass-through and inflation expectations on policy trade offs. Palgrave Macmillan.
Sun. (2012). Nominal rigidity and some new Keynesian evidence on the new Keynesian theory of the output-inflation trade off. (MPRA Chapter No. 45021).
Metadaten
Titel
Do Inflation Regimesinflation regimes Affect the Transmission of Positive Nominal Demand Shocksnominal demand shock to the Consumer Price Level?
verfasst von
Eliphas Ndou
Thabo Mokoena
Copyright-Jahr
2019
Buch
Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty

Print ISBN: 978-3-030-19802-2

Electronic ISBN: 978-3-030-19803-9

Copyright-Jahr: 2019

DOI
https://doi.org/10.1007/978-3-030-19803-9_21

Premium Partner

    Bildnachweise