Naslov
The Time Path of Inflation in Croatia

Autori
Aljinović, Zdravka ; Pivac, Snježana ; Šego, Boško

Izvornik
Proceedings of the 12th International Conference on Operations Research (1847-5566) 1 (2008); 43-52

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
inflation ; unemployment ; differential and difference equations ; VAR ; Monte Carlo simulations

Sažetak
In the paper the time paths of the Croatian rate of inflation are estimated. The model is based on three first-order differential i.e. difference equations and on the adaptive expectation hypothesis, what results with second-order differential i.e. difference equations for each variable. The data of the rate of inflation and the rate of unemployment are used for parameters estimation, while the expected rate of inflation is estimated by VAR model. The parameters of adaptive-expectations equations are estimated by standard method and by Monte Carlo simulations, the basic assumptions to be fulfilled. On the basis of the estimated time paths the stability and convergence analysis is done for the rate of inflation.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA