An Empirical Analysis of the Effect of Growth on Inflation, Australia, Canada and the United States
نویسندگان
چکیده
Economists often comment that inflation will tend to increase (or decrease) if growth is higher or lower than the 'potential' growth rate of the the economy. After setting out a theoretical justification for such a relationship we estimate equations relating the change in inflation to growth rates for the US, Canada and Australia. Our system also allows for the possibility that traded goods price inflation will influence the inflation rate of consumer prices. The estimates yield 'steady inflation rates of economic growth' of close to 3% pa for the US and Canada and 4% for Australia. These estimated potential growth rates vary little over a variety of sub periods from the 1960s to 2000. Inflation rates of import and export prices also contribute to the explanation of inflation in some but not all sub periods.
منابع مشابه
Core Inflation and Economic Growth, Does Nonlinearity Matters? A Nonlinear Granger Causality Analysis
T his empirical analysis endeavors to trace out the causal nexus between core inflation and economic growth from the perspective of twenty worlds’ leading economy with the help of the nonlinear Granger causality approach by using time series data from 1981 to 2016. Based on nonlinear Granger causality results, it has been found that there is unidirectional casualty running from core ...
متن کاملHospital Infection Control accreditation standards: A Comparative Review
Introduction: Nosocomial infection (NI) is an infection occurring in a patient after 48 hours of hospitalization or up to 72 hours after discharge from the hospital, which was not present or incubating at the time of admission. Hospital accreditation standards have a significant impact on the prevention and control of NI. Nevertheless, Iran’s hospital accreditation standards face challenges. T...
متن کاملPublic Spending on Health Service and Policy Research in Canada, the United Kingdom, and the United States: A Modest Proposal
Health services and policy research (HSPR) represent a multidisciplinary field which integrates knowledge from health economics, health policy, health technology assessment, epidemiology, political science among other fields, to evaluate decisions in health service delivery. Health service decisions are informed by evidence at the clinical, organizational, and policy level, levels with distinct...
متن کاملComprehensive Disaster Risk Management Standards for Hospitals
Background and Objective: Hospitals play an important role in protecting the health and survival of people during disasters. Despite the development of risk management programs worldwide in recent years, hospital preparedness in disasters is low and one reason for that is the lack of hospital standards for disaster preparedness. This study aims to develop hospital accreditation standards for ho...
متن کاملInvestigating the threshold role of sanctions on the effect of oil revenues on liquidity in Iran: new evidence from the TSVAR model
In the years after the Islamic Revolution of Iran, for various reasons, Iran's economy has always been under the economic sanctions of the United States, the United Nations, or the European :union:, sometimes by the United States alone, and in some periods by all three. In the present research, the impact of positive and negative shocks on the sanctions index through two paths of impact on the ...
متن کامل