کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5053244 1476506 2017 21 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The relevance and relative robustness of sources of inflation bias in Pakistan
ترجمه فارسی عنوان
ارتباط و استحکام نسبی منابع بی نظمی تورمی در پاکستان
کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی
We empirically examine the relevance and relative robustness of stabilization and non-stabilization sources of inflation bias for the typical discretionary monetary policy strategy of Pakistan. First, the stabilization and non-stabilization sources of inflation bias are identified, and their proxy variables are constructed. Second, a robustness evaluation strategy is developed based on bivariate and multivariate analysis of cointegrating relationships among inflation bias indicators and potential sources thereof to determine their long-term relevance and relative robustness or fragility. The stabilization sources of inflation bias such as exploitation of the inflation output trade-off for growth stimulation and the central bank's preference for growth stabilization are the most relevant and relatively robust sources of inflation bias vis-à-vis the non-stabilization sources. Among the non-stabilization sources, only openness is partially relevant but is fragile.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economic Modelling - Volume 63, June 2017, Pages 283-303
نویسندگان
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