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Author : George Alogoskoufis
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (89 download)
Download or read book On the Determinants of Consumer Price Inflation in Greece written by George Alogoskoufis and published by . This book was released on 1986 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : George S. Alogoskoufis
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (38 download)
Download or read book Political Parties, Elections and Exchange Rate Regimes written by George S. Alogoskoufis and published by . This book was released on 1991 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451816081
Total Pages : 108 pages
Book Rating : 4.4/5 (518 download)
Download or read book Greece written by International Monetary Fund and published by International Monetary Fund. This book was released on 1998-10-13 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper explores the determinants of Greece’s potential output, an exercise that could shed light on its current cyclical position, as well as on its medium-term growth prospects. To that end, a production function is estimated, with capital and labor as factors of production and time-varying total factor productivity. The estimation results suggest that the output gap has been closing in recent years, with output projected to be slightly above potential in 1998. The paper also explores the impact of changes in the drachma’s exchange rate on inflation.
Author : Nikos Karabalis
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Inflation Measurement in Greece written by Nikos Karabalis and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumer price indices reflect changes through time in the prices of goods and services that are bought by households for the satisfaction of their consumption needs. In Greece, there are two different indicators of inflation issued by the National Statistical Service of Greece. The Consumer Price Index (CPI) is the official indicator of the domestic level used for the adjustment of wages and the adaptation of the purchasing power of the currency. The second is the Harmonized Index of Consumer Prices (HICP) created through coordinated and systematic efforts at harmonization within the European Union; it is used by the European Central Bank. This article describes these two measures and the differences between them are stressed. Both indicators are distinct from a macroeconomic perspective, nevertheless for confusion to be avoided and in the context of optimal practices and European convergence it would be best if these two indices were identical.
Author : Jongrim Ha
Publisher : World Bank Publications
ISBN 13 : 1464813760
Total Pages : 524 pages
Book Rating : 4.4/5 (648 download)
Download or read book Inflation in Emerging and Developing Economies written by Jongrim Ha and published by World Bank Publications. This book was released on 2019-02-24 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.
Author : Mr. Kangni R Kpodar
Publisher : International Monetary Fund
ISBN 13 : 1616356154
Total Pages : 34 pages
Book Rating : 4.6/5 (163 download)
Download or read book The Distributional Implications of the Impact of Fuel Price Increases on Inflation written by Mr. Kangni R Kpodar and published by International Monetary Fund. This book was released on 2021-11-12 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.
Author : Ms.Florence Jaumotte
Publisher : International Monetary Fund
ISBN 13 : 1463983646
Total Pages : 36 pages
Book Rating : 4.4/5 (639 download)
Download or read book Determinants of Inflation in the Euro Area written by Ms.Florence Jaumotte and published by International Monetary Fund. This book was released on 2012-01-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: While inflation differentials in a monetary union can be benign, reflecting a catch-up process, or an adjustment mechanism to asymmetric shocks or different business cycles, they may also indicate distortions related to inefficiencies in domestic product and labor markets that amplify or make more persistent the impact of shocks on inflation. The paper examines the determinants of inflation differentials in the euro area, with emphasis on the role of country specific labor and product market institutions. The analysis uses a traditional backward-looking Phillips curve equation and augments it to explore the role of collective bargaining systems, union density, employment protection, and product market regulation. The model is estimated over a panel dataset of 10 euro area countries over the period 1983-2007. Results show that high employment protection, intermediate coordination of collective bargaining, and high union density increase the persistence of inflation. Oil and raw materials price shocks are also more likely to be accommodated by wage increases when the degree of coordination in collective bargaining is intermediate. These results are robust to different estimation methods, model specifications, and outliers. The paper suggests that reforming labor market institutions may improve the functioning of the euro area by reducing the risk of persistent inflation differentials.
Author : International Labour Office
Publisher : International Labour Organization
ISBN 13 : 9789221136996
Total Pages : 578 pages
Book Rating : 4.1/5 (369 download)
Download or read book Consumer Price Index Manual written by International Labour Office and published by International Labour Organization. This book was released on 2004-08-25 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: The consumer price index (CPI) measures the rate at which prices of consumer goods and services change over time. It is used as a key indicator of economic performance, as well as in the setting of monetary and socio-economic policy such as indexation of wages and social security benefits, purchasing power parities and inflation measures. This manual contains methodological guidelines for statistical offices and other agencies responsible for constructing and calculating CPIs, and also examines underlying economic and statistical concepts involved. Topics covered include: expenditure weights, sampling, price collection, quality adjustment, sampling, price indices calculations, errors and bias, organisation and management, dissemination, index number theory, durables and user costs.
Author : Hans-Hermann Francke
Publisher : Duncker & Humblot
ISBN 13 : 9783428480968
Total Pages : 456 pages
Book Rating : 4.4/5 (89 download)
Download or read book Konzepte und Erfahrungen der Geldpolitik written by Hans-Hermann Francke and published by Duncker & Humblot. This book was released on 2019 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451819218
Total Pages : 146 pages
Book Rating : 4.4/5 (518 download)
Download or read book Iceland written by International Monetary Fund and published by International Monetary Fund. This book was released on 1999-07-27 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper focuses on the European Monetary Union and the monetary policy framework in Iceland. It concludes that in terms of an exchange rate regime, the two most realistic options for Iceland are to continue with the existing arrangement or adopt a unilateral peg to the euro. However, it is argued that both options entail the need for enhancing the independence of the central bank, which will require reforming the Central Bank of Iceland Act. The paper also discusses a Scandinavian forecasting model for inflation in Iceland.
Author : Richard C. Marston
Publisher : University of Chicago Press
ISBN 13 : 0226507254
Total Pages : 332 pages
Book Rating : 4.2/5 (265 download)
Download or read book Misalignment of Exchange Rates written by Richard C. Marston and published by University of Chicago Press. This book was released on 2008-04-15 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists writing on flexible exchange rates in the 1960s foresaw neither the magnitude nor the persistence of the changes in real exchange rates that have occurred in the last fifteen years. Unexpectedly large movements in relative prices have lead to sharp changes in exports and imports, disrupting normal trading relations and causing shifts in employment and output. Many of the largest changes are not equilibrium adjustments to real disturbances but represent instead sustained departures from long-run equilibrium levels, with real exchange rates remaining "misaligned" for years at a time. Contributors to Misalignment of Exchange Rates address a series of questions about misalignment. Several papers investigate the causes of misalignment and the extent to which observed movements in real exchange rates can be attributed to misalignment. These studies are conducted both empirically, through the experiences of the United States, Great Britain, Japan, and the countries of the European Monetary System, and theoretically, through models of imperfect competition. Attention is then turned to the effects of misalignment, especially on employment and production, and to detailed estimates of the effects of changes in exchange rates on several industries, including the U.S. auto industry. In response to the contention that there is significant "hysteresis" in the adjustment of employment and production to changes in exchange rates, contributors also attempt to determine whether the effects of misalignment can be reversed once exchange rates return to earlier levels. Finally, the issue of how to avoid—or at least control—misalignment through macroeconomic policy is confronted.
Author : Donald Sassoon
Publisher : Bloomsbury Publishing
ISBN 13 : 0857715305
Total Pages : 1006 pages
Book Rating : 4.8/5 (577 download)
Download or read book One Hundred Years of Socialism written by Donald Sassoon and published by Bloomsbury Publishing. This book was released on 2010-07-30 with total page 1006 pages. Available in PDF, EPUB and Kindle. Book excerpt: On 14 July 1889, the centenary of the French Revolution, socialist parties from all corners of Europe met in Paris. On the same day in the same city, the Exposition Universelle was launched to mark the achievements of capitalist production. The two events symbolized the beginning of the epic struggle between socialism and capitalism in Europe.; In this comprehensive study of a century of socialism, the author traces the fortunes of the political parties of the Left in Western Europe. From the rise of the Bolsheviks to the fall of the Berlin wall, from the Second International through two world wars to the Cold War and the birth of the welfare state, from the working class militancy and student uprisings of the 1960s, through the revival of feminism and the arrival of "green" politics, to the reluctant embrace of market economics en route to the millennium, Donald Sassoon charts the course of socialism across 14 countries.; He shows that throughout their history the fortunes of socialism and capitalism have been inextricably linked. They have grown up side by side, each one challenging and seeking to destroy, yet nourishing and shaping the other.
Author : Nikos Gkarnkanas
Publisher :
ISBN 13 :
Total Pages : 316 pages
Book Rating : 4.F/5 ( download)
Download or read book The Bank of Greece Econometric Model of the Greek Economy written by Nikos Gkarnkanas and published by . This book was released on 1992 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Iannis A. Mourmouras
Publisher : Springer Science & Business Media
ISBN 13 : 3642570321
Total Pages : 298 pages
Book Rating : 4.6/5 (425 download)
Download or read book Monetary Policy at the European Periphery written by Iannis A. Mourmouras and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: At long last, monetary union has dawned in Europe. Eleven member states now share the common currency, forming a larger EMU than many observers, who thought that monetary union would initially be restricted to the core countries of the European Union, expected. The next item on the EMU agenda now is the question how to bring the remaining members of the European Union into the monetary union. I.A. Mourmouras and M. G. Arghyrou address this question from the perspective of Greece, and, with it, future European Union members such as Hungary and Poland. Their book presents a careful and interesting study of the Greek monetary policy experiences over the past 25 years. It demonstrates how Greece moved from an inflation ridden economy characterized by rigid controls of the financial sector to an economy for which an independent central bank and inflation targeting are credible options. The study is not only interesting in itself but also in that it bears important lessons for the development of monetary policy and institutions in the candidate countries of the European Union.
Author : Stratos E. Constantinidis
Publisher :
ISBN 13 :
Total Pages : 712 pages
Book Rating : 4.3/5 (91 download)
Download or read book Greece in Modern Times written by Stratos E. Constantinidis and published by . This book was released on 2000 with total page 712 pages. Available in PDF, EPUB and Kindle. Book excerpt: This complete and annotated bibliography is the largest and most comprehensive of works published in English about Greece, its people, and modern times.
Author : Mr.Pau Rabanal
Publisher : International Monetary Fund
ISBN 13 : 1513518607
Total Pages : 57 pages
Book Rating : 4.5/5 (135 download)
Download or read book Financial Factors written by Mr.Pau Rabanal and published by International Monetary Fund. This book was released on 2015-07-14 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: We suggest a new approach for analyzing the role of financial variables and shocks in computing the output gap. We estimate a two-region DSGE model for the euro area, with financial frictions at the household level, between 2000-2013. After joining the monetary union, a decline in some countries’ borrowing costs contributed to a credit, housing and real boom and bust cycle. We show that financial frictions amplified economic fluctuations and the measure of the output gap in those countries. On the contrary, in countries such as France and Germany, financial frictions played a minor role in output gap measures. We also present evidence of the trade-offs faced by the European Central Bank when trying to stabilize two regions in a currency union with unsynchronized economic cycles.
Author :
Publisher :
ISBN 13 :
Total Pages : 256 pages
Book Rating : 4.3/5 ( download)
Download or read book Economic Bulletin written by and published by . This book was released on 2008 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
