0 the rate at which prices rise or the economic process that causes this -- inflasjon [ masculine ]
1 the process of blowing up with air -- oppblåsing [ masculine ]
2 a situation in country’s economy where prices and wages keep forcing each other to increase -- inflasjon
Inflation has risen to 3.5%.
3 the process of inflating or being inflated. -- oppblåsing, oppumping
However, if the rate of inflation is increased excessively, real returns will be driven down to the point where credit market frictions become binding.
These actions may induce movements in nominal stock returns that cancel out or taper off those induced by innovations in real activity or inflation.
After all, rational investors should adjust nominal returns to changes in inflation, in the dividend process and in the discount factor.
Along these paths, as often happens with observed series, inflation is autocorrelated and deviations from target cannot be accounted for as simple stochastic innovations.
Clearly, for values of around 1, this cannot be expected because past inflation has almost no predictive power.
The initial inflation target was 3% until the end of 1992 and then it was reduced to 2% in 1993 until the end of 1995.
It further gains by having marketbased measures of specific types of inflation.
Note that all variables except for the interest and inflation rates are in logarithms and refer to deviations from some exogenous equilibrium (growth path).
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