Inflation : causes and effects / Leon V. Schwartz, editor.

Format:

Book

Contributor:

Schwartz, Leon V.

Series:

Global economic studies series.

Global economic studies series

Language:

English

Subjects (All):

Inflation (Finance).

Physical Description:

1 online resource (207 p.)

Edition:

1st ed.

Place of Publication:

New York : Nova Science Publishers, c2009.

Language Note:

English

Summary:

The term inflation once referred to increases in the money supply (monetary inflation); however, economic debates about the relationship between money supply and price levels have led to its primary use today in describing price inflation. This new book gathers the latest research from around the globe on this issue.

Contents:

Intro

INFLATION:CAUSES AND EFFECTS

CONTENTS

PREFACE

PRACTICES, CHALLENGES AND PROSPECTSOF HRM IN SUB-SAHARAN AFRICA (SSA)

Introduction

Literature Review

Practices and Challenges of HRMin the Civil Service in Sub-Sahara Africa

Procurement of Civil Servants in Sub-Sahara Africa

Attractiveness of the Compensation Programs

Presence of Clearly Written and Operational HR Procurement Policies

Effectiveness of the Organizational Arrangement of HR Functions

Adequacy and Reliability of Personnel Data

Availability of Qualified and Motivated HR Officers

Clarity of Organizational Objectives and Strategies

Commitment of Policy Makers and Senior Civil Servants to Merit Principles

Image of an Organization

Continuity of Monitoring and Evaluation of HR Procurement Activities

Training of Civil Servants in Sub-Saharan Africa

Presence of Clearly Written and Operational Training Policies:

Continuity of Training Needs Assessment (TNA)

Presence of Written and Acceptable Trainee-Selection Procedures

Linkages of Training Programs to Organizational Objectives

Linkages of Training Programs to Other HR Policies and Programs

Capacity of a Government to Finance Training Programs

Commitment of the Policy Makers and Senior Civil Service Managers toTraining

Conduciveness of the Working Condition (Transfer of Training)

Continuity of Monitoring and Evaluation of Training Programs

Utilization of Civil Servants in Sub-Saharan Africa

Compensation Management Practices

Employee Performance Appraisal Practices

Promotion Policies and Practices

Placement and Clarity of Job Descriptions

Concluding Remarks

References

ACCURACY AND RATIONALITY OF JAPANESE CPIFORECASTERS*

Abstract

1. Introduction

2. Data

3. Relative Accuracy

3.1. Benchmark Forecasts.

3.2. The Descriptive Statistics

3.3. The Encompassing Test

3.4. Generalized Loss Function

3.5. Correlations of Forecast Accuracy among Different Forecast Spans

4. Rationality

4.1. Tests for Unbiasedness

4.2. Tests for Efficiency

4.3. Tests for Martingale

4.4. Summary of the Rationality Tests

5. Consensus Forecast

5.1. Forecast Accuracy

5.2. The Encompassing Test for the Consensus Forecast

5.3. Rationality of the Consensus Forecast

6. Conclusions

THE NONPARAMETRIC TIME-DETRENDEDFISHER EFFECT

2. Univariate Analysis - Modeling Inflation and Nominal InterestRates

3. Parametric and Nonparametric VAR Models

3.1. The Parametric Model

3.2. The Nonparametric Model

3.3. Testing for the Fisher Effect

4. Empirical Results

4.1. First Sample Period

4.2. Second Sample Period

5. Conclusion

FORECASTING INFLATION USINGSIGNAL PLUS NOISE MODELS

2. Empirical Model

2.1. State Space Model for Predicting Inflation

2.2. Discussions of Model

2.3. Estimation Issues

3. Empirical Results

3.1. Data Sources

3.2. Preliminary Data Analysis

3.3. Estimation Results

3.4. Hypothesis Test

3.4.1. Test for Normality

3.4.2. Test for Volatility Persistence

4. Conclusion

Appendix A: Sorenson-Alspach Filtering Equations

PRICE BEHAVIOR AT HIGH INFLATION:EVIDENCE FROM LATIN AMERICA

2. Price Data and Variables

2.1. Price Data

2.2. Variables

3. Empirical Evidence

4. Inflation Expectations and Non-Linearities

Appendix

WAGE INFLATION AND LABOR MARKET PRESSURE:A PRINCIPAL COMPONENTS APPROACH

2. Labor Market Series and a Principal Components Approach.

3. Estimates of the Wage Phillips Curve

Indexes of Excess Demand

Univariate Analysis: The Unemployment Rate and the Active Opening Rate

Multivariate Analysis: A Principal Components Approach

The Shape of the Phillips Curve

Expected Inflation

Lag Length on Prices (or Wages)

Estimates of the Wage Phillips Curve

4. A Set of Principal Components

5. Time-varying Natural Rate of Unemployment(NRU) and Natural Active Opening Rate (NAOR)

6. Conclusion

MACROECONOMIC POLICIES AND INFLATION

Price Fluctuations

Summary and Conclusion

INFLATION PERSISTENCE AND MONETARY POLICYIN AN OPEN ECONOMY SETTING

2. Description of the Model

3. Inflation Persistence

4. Levels of Inflation and Economic Activity

5. The Demand or Fiscal Shocks

6. The Supply Shocks

7. The Foreign Inflationary Shocks

8. The Shocks on the Foreign Interest Rate

9. Conclusion

Appendix A: Inflation and Activity

Appendix B: Determination and Study of the Parameter (b)

Appendix C: Interest Rate, Inflation and Economic Activity

ESTIMATION OF ELECTRIC DEMAND IN JAPAN:A BAYESIAN SPATIAL AUTOREGRESSIVE AR(p)APPROACH

2. Electric Demand in Japan

3. SAR-AR(p) Model

4. Posterior Analysis

4.1. Joint Posterior Distribution

4.2. Posterior Simulation

4.2.1. Sampling ˆ

4.2.2. Sampling i and ˙2i for i = 1, . . ., n

4.2.3. Sampling ˚i for i = 1, . . ., n

4.3. The Acceleration of Sampling ˆ Parameter

5. Empirical Results

5.1. The Weight Matrix

5.2. Empirical Results

OUTPUT CONTRACTS FOR CENTRAL BANKSIN A MONETARY UNION:A WAY OUT OF THE DEFLATION BIAS

2. The Model

3. The Results

4. Conclusions

References.

INDEX.

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on print version record.

ISBN:

1-61470-091-5

OCLC:

757741854