Economics Dictionary of ArgumentsHome
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| Inflation: In economics, inflation is defined as the sustained increase in the general price level for goods and services in an economy over a certain period of time, which leads to a decline in the purchasing power of money. It is usually measured by indices such as the consumer price index (CPI) or the producer price index (PPI)._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Jonathan D. Ostry on Inflation - Dictionary of Arguments
Ostry I 21 Inflation/tariff policies/tariff incease/Furceri/Hannan/Ostry/Rose: Our results* on inflation seem to support this reasoning; using the same regression-framework as for the other macroeconomic variables, we find that higher tariffs lead to an increase in inflation after two years (…) Ostry I 22 Furthermore, the effect on inflation is stronger during economic expansions than in recessions (…). These results are consistent with Barattieri, Cacciatore, and Ghironi (2018) who find that protectionism acts as a supply shock by decreasing output and increasing inflation in the short run. They also find that protectionism leads to higher inflation which, in turn, prompts central banks to respond with a contractionary impulse. >Protectionism, >Tariffs, >Tariff impacts, >Business cycle/Ostry. * Davide Furceri, Swarnali A. Hannan, Jonathan D. Ostry, and Andrew K. Rose. (2019). Macroeconomic Consequences of Tariffs. IMF Working Paper. WP/19/9. International Monetary Fund._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Ostry I Jonathan D. Ostry Davide Furceri Andrew K. Rose, Macroeconomic Consequences of Tariffs. IMF Working Paper. WP/19/9.International Monetary Fund. Washington, D.C. 2019 |
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