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Eternal inflation is a hypothetical inflationary universe model, which is itself an outgrowth or extension of the Big Bang theory. According to eternal inflation, the inflationary phase of the universe's expansion lasts forever throughout most of the universe. Because the regions expand exponentially rapidly, most of the volume of the universe ...
Econ. The Journal of Monetary Economics is a peer-reviewed academic journal covering research on macroeconomics and monetary economics. It is published by Elsevier and was established in October 1973 by Karl Brunner and Charles I. Plosser. Beginning in 2002, it was merged with the Carnegie-Rochester Conference Series on Public Policy. [1]
The fiscal theory of the price level is the idea that government fiscal policy, including debt and taxes present and future, is the primary determinant of the price level or inflation as opposed to the quantity theory of money. [1] The theory is one of the strongest advocates in the debate among mainstream economists for combatting inflation ...
Inflation rates among members of the International Monetary Fund in October 2023 UK and US monthly inflation rates from January 1989 [1] [2] In economics, inflation is a general increase in the prices of goods and services in an economy. This is usually measured using a consumer price index (CPI).
Because of the dangers of inflationary bias, several measures have been suggested to prevent it. Kenneth Rogoff proposed that states should have conservative central bankers, [2] whilst others have suggested that states should create inflationary goals, and if this inflation rate is exceeded, there should be some form of punishment for the central banker.
The PCE price index (PePP), also referred to as the PCE deflator, PCE price deflator, or the Implicit Price Deflator for Personal Consumption Expenditures (IPD for PCE) by the Bureau of Economic Analysis (BEA) and as the Chain-type Price Index for Personal Consumption Expenditures (CTPIPCE) by the Federal Open Market Committee (FOMC), is a United States-wide indicator of the average increase ...
History. The concept of core inflation as aggregate price growth excluding food and energy was introduced in a 1975 paper by Robert J. Gordon. [1] This is the definition of "core inflation" most used for political purposes. The core inflation model was subsequently developed and advocated by Otto Eckstein, in a paper published in 1981. [2]
The Harmonised Index of Consumer Prices (HICP) is an indicator of inflation and price stability for the European Central Bank (ECB). It is a consumer price index which is compiled according to a methodology that has been harmonised across EU countries. The euro area HICP is a weighted average of price indices of member states who have adopted ...