Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/108974
Authors: 
Gerdesmeier, Dieter
Reimers, Hans-Eggert
Roffia, Barbara
Year of Publication: 
2015
Series/Report no.: 
Wismarer Diskussionspapiere 01/2015
Abstract: 
This paper models the relationship between consumer and asset prices (approximated by house prices, oil prices and the exchange rate) by means of a Markov Switching model (MS model). It can be shown that house prices appear to play a significant role in the determination of consumer prices in a high-inflation and a low-inflation regime, whereas oil prices and the exchange rate only unfold an impact in a high-inflation regime. Taken together, these results can be seen as being of help for the monetary policy decision-making process.
JEL: 
D12
D13
E31
ISBN: 
978-3-942100-18-2
Document Type: 
Working Paper

Files in This Item:
File
Size
222.45 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.