PL EN


2007 | 2 | 161-180
Article title

Inflation as a Polynomial Function of Production Gap

Title variants
Languages of publication
PL
Abstracts
EN
It is attempted to verify a hypothesis that inflation is a concave-convex function of production gap. A sample of statistics from 12 economies of the Euro zone provided the basis of the study. The values of estimated parameters of base inflation function suggest that under condition of a positive production gap, inflation rate increases at accelerated pace while it fastly decreases during low industrial cycle. The study supports a guess that on average industrial capacities were utilized at a level of ca 81 %. The effective output (defined here as the volume of products sold during a medium term on condition that inflation increases are zero) could have been attained if capacities were utilized at the level of some 84 %.
Year
Issue
2
Pages
161-180
Physical description
Document type
ARTICLE
Contributors
  • R. Grzeda-Latocha, c/o Uniwersytet Lódzki, Katedra Ekonometrii, ul. Rewolucji 1905r. 41, 90-214 Lódz, Poland
References
Document Type
Publication order reference
Identifiers
CEJSH db identifier
07PLAAAA02755626
YADDA identifier
bwmeta1.element.3fc0e317-cd35-33f3-80b3-d9789c24fccf
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