ARE PRICES COUNTERCYCLICAL - EVIDENCE FROM THE G-7

被引：28

作者：

CHADHA, B ^{[1
]}

PRASAD, E ^{[1
]}

机构：

[1] INT MONETARY FUND,WASHINGTON,DC 20431

来源：

JOURNAL OF MONETARY ECONOMICS | 1994年 / 34卷 / 02期

关键词：

BUSINESS CYCLES; INFLATION; PRICES;

D O I：

10.1016/0304-3932(94)90051-5

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

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.

引用

页码：239 / 257

页数：19