Примеры inflation

• 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).