Summary and Appraisal

1986 ◽  
Vol 117 ◽  
pp. 3-4
Keyword(s):  
Total Output ◽  
Price Inflation ◽  
The Past ◽  
Investment Demand ◽  
Wage Inflation

Consumers' real incomes and their expenditure are rising quite fast, the slowdown in price inflation unaccompanied yet by any slowdown in wage inflation. But the increase in investment demand has slackened and exports have stagnated since early last year. For the past 12 months or more total output has grown comparatively slowly as a result. It was probably about 1 ½ per cent higher in the second quarter than a year before. Manufacturing production may not have increased at all. These developments are broadly in line with the forecasts we were making a year ago.

scholarly journals The Taylor principle is valid under wage stickiness

2016 ◽  
Vol 16 (2) ◽  
Author(s):  
Alexis Blasselle ◽  
Aurélien Poissonnier
Keyword(s):  
Continuous Time ◽  
Limit Case ◽  
Policy Rule ◽  
Price Inflation ◽  
Trade Off ◽  
Wage Stickiness ◽  
Keynesian Model ◽  
Monetary Policy Rule ◽  
Relevant Variables ◽  
Wage Inflation

AbstractWe consider the textbook neo-Keynesian model with staggered prices and wages in discrete time. We prove analytically that the Taylor principle holds in this case. When both contracts exhibit sluggish adjustment to market conditions, the policy maker faces a trade-off between stabilizing three welfare relevant variables: output, price inflation and wage inflation. We consider a monetary policy rule designed accordingly: the central banker can react to both inflations and the output gap. In addition to generalizing the Taylor principle we show that the frontier of determinacy embeds the frontier derived with staggered prices only, generalizes the frontier of determinacy in the limit case of continuous time and is symmetric in price and wage inflations.

Price inflation and wage inflation

1988 ◽  
Vol 27 (1) ◽  
pp. 35-40 ◽  
Author(s):  
Augustin Kwasi Fosu ◽  
Shamsul Huq
Keyword(s):  
Price Inflation ◽  
Wage Inflation

Chapter II. The World Economy

1984 ◽  
Vol 107 ◽  
pp. 28-46
Keyword(s):  
Unemployment Rate ◽  
World Economy ◽  
Average Rate ◽  
Economic Aspect ◽  
Total Output ◽  
Price Inflation ◽  
Industrial Countries ◽  
The World

For the OECD area as a whole total output probably rose in 1983 by 2¼ per cent, while the unemployment rate, though rather higher overall than in 1982, declined considerably during the year and the average rate of consumer price inflation was down to less than 5½ per cent from 7¾ per cent in 1982. This means that from every important economic aspect the year was a much better one for the industrial countries than we expected twelve months ago.

Chapter I. The Home Economy

1983 ◽  
Vol 105 ◽  
pp. 5-18
Keyword(s):  
Total Output ◽  
The Past ◽  
Rate Of Growth ◽  
Bad Weather

Over the past two years, total output has risen almost continuously, but slowly. The output estimate of GDP shows only one quarter (the first quarter of 1982 when production was affected by bad weather) in which output failed to increase. The rate of growth has varied, declining from 2 per cent a year in the second half of 1981 to less than 1 per cent a year over the first three quarters of 1982, then rising again to 1½-2 per cent in the final quarter of last year and the first quarter of this; but throughout it has been low by the standards of previous economic recoveries. By the first quarter of this year, output was only 2½ per cent higher than its trough in the second quarter of 1981 (in contrast to increases of 5 per cent, 9½ per cent and 6½ per cent at the corresponding stage of the three preceding recoveries) and still 4½ per cent below its peak in the second quarter of 1979.

Chapter I. The Home Economy

1986 ◽  
Vol 118 ◽  
pp. 6-17
Keyword(s):  
Slow Growth ◽  
National Accounts ◽  
Fixed Investment ◽  
Price Inflation ◽  
Public Consumption ◽  
Wage Inflation

The phase of relatively slow growth, that started early in 1985, continued at least up to the second quarter of this year—the last quarter for which there are full national accounts. GDP was probably then some 1½ or 2 per cent higher than a year before; the slightly higher figure is suggested by the output estimate, the lower one by the average estimate. This increase depended almost wholly on a rise of 5 per cent in consumers' expenditure, whose real incomes rose rapidly as price inflation slowed down and wage inflation did not. Exports barely changed. So did public consumption. Fixed investment increased between the second quarters of 1985 and 1986, but not between the first halves of the two years—a comparison less affected by fluctuations in leasing expenditure in anticipation of changes in capital allowances. Investment in stocks was also constant, comparing half years.

Section II. Prospects for North America and Japan

1999 ◽  
Vol 170 ◽  
pp. 37-45
Author(s):  
Nigel Pain ◽  
Paul Ashworth
Keyword(s):  
Economic Growth ◽  
Current Account Deficit ◽  
Commodity Prices ◽  
Equity Markets ◽  
The United States ◽  
Output Growth ◽  
Price Inflation ◽  
The Third ◽  
The Past ◽  
The 1960S

Economic growth remains robust in the United States. Output growth is projected to be around 4 per cent this year, for the third year in succession. IMF estimates suggest that the present expansion will become the longest on record if maintained until February of next year. Private sector demand is continuing to expand rapidly, underpinned by the sizable gains in equity markets over the past few years. Underlying price inflation has remained quiescent, helped by continued above-trend growth in productivity at a time when the unemployment rate has fallen to levels last seen in the 1960s. Even so, there are some emerging signs of overheating in the economy, with the current account deficit projected to rise to 4 per cent of GDP in the latter half of this year. Some favourable transitory factors which have helped contain inflationary pressures, such as the appreciation of the dollar and weak commodity prices, also now appear to have come to an end.

Food prices and inflation dynamics in China

2014 ◽  
Vol 6 (3) ◽  
pp. 395-412 ◽  
Author(s):  
Chengsi Zhang ◽  
Chunming Meng ◽  
Lisa Getz
Keyword(s):  
Error Correction ◽  
Food Prices ◽  
Food Price ◽  
Dynamic Interactions ◽  
Price Inflation ◽  
Inflation Dynamics ◽  
Content Type ◽  
The Past ◽  
Paper Construct ◽  
Correction Terms

Purpose – China has witnessed low and stable consumer price inflation in conjunction with high and volatile food price inflation over the past decade. The purpose of this paper is to examine questions about whether or not the link between consumer price inflation and food price inflation has weakened and the determinants of consumer price inflation. Design/methodology/approach – This paper explores these questions by estimating error correction terms for monetary and external sectors using the Johansen cointegration method. Findings – Empirical results suggest that the link between consumer price inflation and food prices has not been weakened, food price inflation, especially cereal price inflation, remains a significant driving force for overall consumer price inflation, and international food prices also play a significant role in determining China's inflation dynamics. Originality/value – The paper construct a multivariate dynamic model that features the link between consumer price inflation and its potential driving variables. It also develops error correction models for food price, non-food price and consumer price inflation, which can accommodate dynamic interactions among the underlying variables.

Fate and Fantasy: A Study of Turgenev's Fantastic Stories

Slavic Review ◽  
1969 ◽  
Vol 28 (4) ◽  
pp. 543-560
Author(s):  
Eva Kagan-Kans
Keyword(s):  
Nineteenth Century ◽  
Human Existence ◽  
Total Output ◽  
The Past

I ot sudeb zashchity net.Pushkin, “Tsygany”Turgenev's acceptance of a fate that governs human existence found expression in the use of the supernatural in certain of his stories. In the past most critics tended to turn away from these stories, in distress at not being able to reconcile this trait with their interpretation of Turgenev the realist, who portrayed the Russian social byt of the nineteenth century. And yet, a total of ten stories (almost a third of his total output of stories) in which there is a touch of the supernatural and the irrational cannot be dismissed as mere caprice.

Taxation and Inflation: A Survey of Recent Theory and Empirical Evidence

1977 ◽  
Vol 5 (4) ◽  
pp. 403-418 ◽  
Author(s):  
D.A.L. Auld
Keyword(s):  
Empirical Evidence ◽  
Recent Theory ◽  
Price Determination ◽  
Price Inflation ◽  
The Past ◽  
The Relationship

The past decade has witnessed considerable attention devoted to the relationship between tax increases and wage/price inflation. This paper surveys briefly the theoretical and empirical evidence of this period with emphasis on how tax variables have been incorporated into theoretical and empirical modes of wage and price determination.

scholarly journals China's funding system and research innovation

2014 ◽  
Vol 1 (1) ◽  
pp. 161-163 ◽  
Author(s):  
Jane Qiu
Keyword(s):  
The United States ◽  
Associate Editor ◽  
Research Quality ◽  
Total Output ◽  
The Past ◽  
The World Bank ◽  
Chinese Academy Of Sciences ◽  
Peking University ◽  
Academy Of Sciences ◽  
Tongji University

Abstract In the past decade, China's total expenditure on research and development (R&D) has been increasing by about 20% per year. And the total output of scientific research from China has not failed to impress: a 2011 study by Britain's Royal Society found that, in 2004–08, the country produced 10% of the world's published scientific articles, putting it second after the United States. But a study conducted by the World Bank and China's State Council concluded in the year 2012 that Chinese research quality falls short. It noted that the country produces relatively few high-impact articles, and that the majority of Chinese patents constitute minor novelties rather than genuine innovations. So what has gone wrong? And what needs to be changed to spur innovation in China significantly? In a forum organized by National Science Review, its executive associate editor Mu-ming Poo asked four leading scientists in China. Yadong Li Chemist of Tsinghua University in Beijing (Courtesy of Yadong Li) Yi Rao Biologist of Peking University in Beijing (Courtesy of Yi Rao) Dingsheng Wang Physicist of Institute of Physics, Chinese Academy of Sciences in Beijing (Courtesy of Dingsheng Wang) Pinxian Wang Geologist of Tongji University in Shanghai (Courtesy of Pinxian Wang) Mu-ming Poo (Chair) Neuroscientist of Institute of Neuroscience, Chinese Academy of Sciences in Shanghai (Courtesy of Mu-ming Poo)

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