The positive relationship between inflation and relative price variability has been taken as a proven case, but recent evidence casts doubt on the verdict. This paper shows that theory can support positive or negative relationships, while past empirical evidence may have been contaminated by aggregation bias and our measures of price dispersion and inflation. We re-examine the empirical evidenc...

We develop and estimate a dynamic stochastic general equilibrium model that features sticky prices, a variable elasticity of demand facing firms and firm-specific labor. While reconciling to a good extent the micro and macro evidence on the behavior of prices, the model offers an accurate account of the dramatic increase in macroeconomic stability from the Great Inflation (1948:I-1979:II) to th...

inflation has always been an economic problem and different solutions have been proposed to control it. although it is said that “higher output lowers inflation rate” but it is true when other factors are constant. this study searches the answer to the following question: “what is the effect of inflation rate and output in a case that inflation rate and output growth has a volatility trend?” to...

The introduction of banks that issue money and supply balances and pay out their profits as dividends is the natural modification of the model of general competitive equilibrium that encompasses monetary economies. Competitive equilibria exist. Nevertheless, eventhough there is a well defined money market, competitive equilibrium allocations are indeterminate. On an event tree with N nodes, of ...

This paper examines evidence for the possible existence of the 'Daily Effect' in the Istanbul Stock Exchange (ISE). In addition to ISE daily closing index returns, excess index returns over the risk-free rate-overnight interest rates in this case-and inflation are analyzed since the Turkish economy has been experiencing high inflation and unstable financial markets that make it different from t...

BACKGROUND We performed this study to semi-quantitatively characterize the formation of leptomeningeal collaterals in acute middle cerebral artery (MCA) occlusion caused by intravascular balloon inflation. METHODS The anatomic extent of leptomeningeal collateral blood flow from the anterior cerebral artery territory to the MCA territory during occlusion of the M1 segment was graded based on a...

The rate of inflation in the consumer price index over the past three years has been low and stable, averaging 2.8 percent and never exceeding that average by more than one-half percentage point in any quarter. Attending this success on the inflation front has been a gradual decline in the unemployment rate to a level that most economists agree is consistent with full employment. In broad terms...

BACKGROUND Sustained inflations (SI) are advocated for the rapid establishment of FRC after birth in preterm and term infants requiring resuscitation. However, the most appropriate way to deliver a SI is poorly understood. We investigated whether a volume-limited SI improved the establishment of FRC and ventilation homogeneity and reduced lung inflammation/injury compared to a pressure-limited ...