Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/198454 
Year of Publication: 
2016
Citation: 
[Journal:] CES Working Papers [ISSN:] 2067-7693 [Volume:] 8 [Issue:] 1 [Publisher:] Alexandru Ioan Cuza University of Iasi, Centre for European Studies [Place:] Iasi [Year:] 2016 [Pages:] 171-181
Publisher: 
Alexandru Ioan Cuza University of Iasi, Centre for European Studies, Iasi
Abstract: 
Inflation rate determinants for the USA have been analyzed in this study starting with 2008, when the American economy was already in crisis. This research brings, as a novelty, the use of Bayesian Econometrics methods to identify the monthly inflation rate in the USA. The Stochastic Search Variable Selection (SSVS) has been applied for a subjective probability acceptance of 0.3. The results are validated also by economic theory. The monthly inflation rate was influenced during 2008-2015 by: the unemployment rate, the exchange rate, crude oil prices, the trade weighted U.S. Dollar Index and the M2 Money Stock. The study might be continued by considering other potential determinants of the inflation rate.
Subjects: 
inflation rate
stochastic search
crisis
prices
JEL: 
C52
E31
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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