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Tuesday, May 5, 2020 | History

2 edition of Inflation and markups found in the catalog.

Inflation and markups

theories and evidence from the retail trade sector

by Roland Benabou

  • 92 Want to read
  • 29 Currently reading

Published by Dept. of Economics, Massachusetts Institute of Technology in Cambridge, Mass .
Written in English


Edition Notes

StatementRoland Benabou
SeriesWorking paper / Dept. of Economics -- no. 587, Working paper (Massachusetts Institute of Technology. Dept. of Economics) -- no. 587.
ContributionsMassachusetts Institute of Technology. Dept. of Economics
The Physical Object
Pagination13 p. :
Number of Pages13
ID Numbers
Open LibraryOL24637666M
OCLC/WorldCa24884796

There are evidently three distinct periods: very high inflation, zero inflation, and then moderate inflation. From to , there was substantial inflation. The annual inflation rate was about percent in and was over 2, percent in The Good Aspects of Inflation. In a fact that is surprising to most people, economists generally argue that some inflation is a good thing. A healthy rate of inflation is considered to be approximately 2 .

  Hutchins Roundup: Increased price markups, oil prices and inflation, and more Vivien Lee, Louise Sheiner, and David Wessel Thursday, Aug Facebook. This volume presents the latest thoughts of a brilliant group of young economists on one of the most persistent economic problems facing the United States and the world, inflation. Rather than attempting an encyclopedic effort or offering specific policy recommendations, the contributors have emphasized the diagnosis of problems and the description of events that economists most thoroughly Reviews: 1.

to inflation, but he also sees no compensating benefits to offset its evils. 2 Note that the very inflationary evils denounced by Keynes are likewise stressed by Buchanan and Wagner [l; pp. ]. This in a book, ironically enough, pur- porting to show that Keynes was an inflationist. Thus, the exchange rate of the mark against the US dollar steadily devalued from to marks per dollar, a preliminary warning to the extreme postwar inflation. [4] This strategy failed as Germany lost the war, which left the new Weimar Republic saddled with massive war debts that it could not afford, a problem exacerbated by printing.


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Inflation and markups by Roland Benabou Download PDF EPUB FB2

Discover the best Economic Inflation in Best Sellers. Find the top most popular items in Amazon Books Best Inflation and markups book. Books Advanced Search New Releases Best Sellers & More Children's Books Textbooks Textbook Rentals Best Books of the Month of over 1, results for Books: Business & Money: Economics: Inflation.

Rev. Oct. 4, Addeddate Bookplateleaf Call number Camera Canon 5DPages: inflation,orevenmoreuncertaininflation,generatewelfarelosses. Of crucial importance is their effect onmarketpower,which is shown to dependon the size ofinformational costs.

Inflation, Markups and Monetary Policy The correlation between persistent changes in the markup in one sector of an economy and the inflation rate is quantified in a 2-sector dynamic general equilibrium model. How this relationship is affected by monetary policy is also studied. Figure 1, which plots A and the rate of inflation in the GNP deflator, conveys a clear message: higher inflation is associated to lower markups.

The CPI and PPI give similar results. This picture is confirmed by the regression shown in the first column of table 1, where inflation has a small but significant negative effect: a 10 point rise in inflation reduces the markup by by: Markups cyclicality is enumerated among causes of lack of a clear link between production and prices, next to a high inflation persistence partly caused by inflation expectations, changes in.

From the empirical analysis we obtain a long‐run relationship where higher inflation is associated with a lower markup and vice versa. The impact in the long run of inflation on the markup is interpreted as the cost to firms of overcoming missing information when adjusting prices in an inflationary by: Inflation.

inflation, in economics, persistent and relatively large increase in the general price level of goods and services. Its opposite is deflation, a process of generally declining prices. The U.S. Bureau of Labor Statistics produces the Consumer Price Index (CPI) yearly, which measures average price changes in relation to prices in an arbitrarily selected base year.

This model of inflation can lead to a stable, a rising, or a falling price level depending on the markups which firms and workers respectively use.

If either or both use a percentage markup, the inflation will progress faster than if either or both fix the markups in money terms.

"Inflation and markups: Theories and evidence from the retail trade sector," European Economic Review, Elsevier, vol. 36(), pagesApril. More about this item Keywords. The German inflation of s was also catastrophic: Duringthe German price level went up 5, per cent. Inthe situation wors­ened; the German price level rose 1, ( billion) times.

By October ofthe post­age in the lightest letter sent from Germany to the United States wasmarks. Introduction. Empirical evidence in favour of a negative relationship between inflation and the markup has grown in recent years, including papers by Richards and Stevens,Bénabou,Franz and Gordon,Cockerell and Russell,de Brouwer and Ericsson,Simon,Batini et al., All the estimation undertaken in these papers has assumed that inflation and the Cited by: COVID Resources.

Reliable information about the coronavirus (COVID) is available from the World Health Organization (current situation, international travel).Numerous and frequently-updated resource results are available from this ’s WebJunction has pulled together information and resources to assist library staff as they consider how to handle coronavirus.

This paper examines the long-run relationship between inflation and a new measure of the price-marginal cost markup. This new markup index is derived while accounting for labor adjustment costs. Inflation in Emerging and Developing Economies (PDF, MB) fills that gap, providing the first comprehensive and systematic analysis of inflation in emerging market and developing economies.

It examines how inflation has evolved and become synchronized among economies; what drives inflation globally and domestically; where inflation expectations have become better-anchored; and how exchange rate fluctuations can pass through to inflation.

Markups, unemployment, and inflation Suppose that the Phillips curve is given by. Suppose that unemployment is initially at its natural rate. Suppose now that p increases as a result of an oil price shock, but that the monetary authority continues to keep the unemployment rate at its previous value.

“Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output,” said Milton.

What You Should Know About Inflation The book's title-What You Should Know About Inflation-only hints at the extent of the issues that Hazlitt addresses. He presents the Austrian theory of money in the clearest possible terms, and contrasts it wit.

Bookstore Markup When you purchase a book through the campus bookstore, a percentage of what you pay is an additional bookstore markup. Introductory Algebra, 4th Edition, which retails new for $ direct from the publisher, is sold wholesale to bookstores at a price of $.

Understanding Inflation and Controlling It Kaushik Basu Chief Economic Adviser Ministry of Finance, Government of India New Delhi - 1 C. Marks Professor Department of Economics, Cornell University Ithaca, New York Abstract Inflation management is one of the hardest tasks an economic policymaker has to undertake.Inflation, Output, and Markup Dynamics with Forward-Looking Wage and Price Setters Louis Phaneuf, Eric R.

Sims, Jean Gardy Victor. NBER Working Paper No. Issued in September NBER Program(s):Economic Fluctuations and Growth, Monetary Economics.Inflation reduces the informativeness of current prices, causing customers to make costly mistakes about which relationships to enter.

In addition, the reduced informativeness of prices makes demand less price-elastic, thereby increasing markups.

Both effects can be quantitatively significant at moderate inflation Cited by: