Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/108974 
Year of Publication: 
2015
Series/Report no.: 
Wismarer Diskussionspapiere No. 01/2015
Publisher: 
Hochschule Wismar, Fakultät für Wirtschaftswissenschaften, Wismar
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

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