Inflation : Demand-Pull or Cost-Push? Optimization-Based, Three-Country Estimation
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[SUMMARY]This paper estimates inflationary procceses of the U.S.A., the U.K., and Japan for postwar 60 years starting at the early 1950s, thereby characterizing and comparing the three country experiences. Inflation is supposed to occur from firm’s optimal pricing policy similarly to Calvo, Rotemberg, and Roberts. Main generators of inflation are the demand-pull factor and the cost-push factor; the former is tied with demand pressure for output, while the letter with the rate of change of the ratio between the wage rate and average labor productivity. The relative strength of the two factors are derived year on year numerically to derive and compare the inflationary characteristics of the three coutries, and also policy implications are discussed.
収録刊行物
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- 千葉大学経済研究 = Economic journal of Chiba University
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千葉大学経済研究 = Economic journal of Chiba University 34 (3-4), 47-64, 2020-03-15
千葉大学経済学会
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詳細情報 詳細情報について
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- CRID
- 1390572174813152256
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- NII論文ID
- 40022224261
- 120006849674
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- NII書誌ID
- AN10005358
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- ISSN
- 09127216
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- NDL書誌ID
- 030397573
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- 本文言語コード
- en
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- データソース種別
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- JaLC
- IRDB
- NDLサーチ
- CiNii Articles