Arbeitspapier

Gold prices and inflation

Using data for 14 countries over the 1994 to 2005 period, we assess the leading indicator properties of gold at horizons ranging from 6 to 24 months. We find that gold contains significant information for future inflation for several countries, especially for those that have adopted formal inflation targets. This finding may arise from the manner in which inflation expectations are formed in these countries, which may result in more rapidly mean-reverting inflation rates. Compared to other inflation indicators for Canada, gold remains statistically significant when combined with variables such as the output gap or the growth rate of a broad monetary aggregate.

Sprache
Englisch

Erschienen in
Series: Bank of Canada Working Paper ; No. 2007-35

Klassifikation
Wirtschaft
Price Level; Inflation; Deflation
Financial Markets and the Macroeconomy
Thema
Inflation and prices
Exchange rates
Gold
Inflationserwartung
Inflation Targeting
Welt

Ereignis
Geistige Schöpfung
(wer)
Tkacz, Greg
Ereignis
Veröffentlichung
(wer)
Bank of Canada
(wo)
Ottawa
(wann)
2007

DOI
doi:10.34989/swp-2007-35
Handle
Letzte Aktualisierung
20.09.2024, 08:22 MESZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Tkacz, Greg
  • Bank of Canada

Entstanden

  • 2007

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