Published in:IMF Working Paper, Vol. , pp. 1-28, 1994
Extent:
1 Online-Ressource (28 p)
Language:
English
DOI:
10.2139/ssrn.883828
Identifier:
Origination:
Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments August 1994 erstellt
Description:
This paper re-examines the cyclical behavior of prices using postwar quarterly data for the G-7. We confirm recent evidence that the price level is countercyclical. However, we find strong evidence that the inflation rate is procyclical in our sample. Our results show the importance of making a clear distinction between inflation and the cyclical component of the price level when reporting and interpreting stylized facts regarding business cycles