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Author : Alexander Mihailov
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (931 download)
Download or read book Inflation Dynamics in the New EU Member States written by Alexander Mihailov and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 168 pages
Book Rating : 4.F/5 ( download)
Download or read book What Drives Inflation in the New EU Member States? written by and published by . This book was released on 2009 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: The workshop discussed cross-country and quantitative analyses of the determinants of inflation in the NMS, focusing in particular on three broad questions: (i) to assess the relative importance of external versus domestic drivers of inflation; (i) to study the relative importance of catching-up and transition-related inflation; (iii) to examine the role of macroeconomic and structural policies in determining the dynamics of inflation in NMS.
Author : Michal Franta
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (129 download)
Download or read book Inflation Persistence written by Michal Franta and published by . This book was released on 2009 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is inflation persistence in the new EU Member States (NMS) comparable to that in the euro area countries? We argue that persistence may not be as different between the two country groups as one might expect. We confirm that one should work carefully with the usual estimation methods when analyzing the NMS, given the scope of the convergence process they went through. We show that due to frequent breaks in inflation time series in the NMS, parametric statistical measures assuming a constant mean deliver substantially higher persistence estimates for the NMS than for the euro area countries. Employing time-varying mean leads to the reversal of this result and suggests similar or lower inflation persistence for the NMS compared to euro area countries. Structural measures show that backward-looking behavior may be more important component in explaining inflation dynamics in the NMS than in the euro area countries.
Author : Jordi Galí
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.X/5 (6 download)
Download or read book European Inflation Dynamics written by Jordi Galí and published by . This book was released on 2001 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: We provide evidence on the fit of the New Phillips Curve (NPQ for the Euro area over the period 1970-1998, and use it as a tool to compare the characteristics of European inflation dynamics with those observed in the U.S. We also analyze the factors underlying inflation inertia by examining the cyclical behavior of marginal costs, as well as that of its two main components, namely, labor productivity and real wages. Some of the findings can be summarized as follows: (a) the NPC fits Euro area data very well, possibly better than U.S. data, (b) the degree of price stickiness implied by the estimates is substantial, but in line with survey evidence and U.S. estimates, (c) inflation dynamics in the Euro area appear to have a stronger forward- looking component (i.e., less inertia) than in the U.S., (d) labor market frictions, as manifested in the behavior of the wage markup, appear to have played a key role in shaping the behavior of marginal costs and, consequently, inflation in Europe.
Author : Marc Kern
Publisher : GRIN Verlag
ISBN 13 : 3668167591
Total Pages : 43 pages
Book Rating : 4.6/5 (681 download)
Download or read book Inflation Dynamics Reconsidered. Inflation Targeting Europe vs. United States written by Marc Kern and published by GRIN Verlag. This book was released on 2016-03-08 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2015 in the subject Economics - Macro-economics, general, grade: 1,3, University of Frankfurt (Main) (Departement of Money and Macroeconomics), language: English, abstract: This paper investigates the inflation dynamics of Germany, Italy, Finland, the whole Europe Area and the United States, based on a General-Method of Moments (GMM) estimation. The New-Keynesian Model and the Real-Business-Cycle Model are essential for the estimation.
Author : Hiranya K. Nath
Publisher :
ISBN 13 : 9789548579421
Total Pages : 35 pages
Book Rating : 4.5/5 (794 download)
Download or read book Relative Inflation Dynamics in the EU Accession Countries of Central and Eastern Europe written by Hiranya K. Nath and published by . This book was released on 2011 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Giulio Palomba
Publisher :
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.:/5 (9 download)
Download or read book Testing Similarities of Short-run Inflation Dynamics Among EU Countries After the Euro written by Giulio Palomba and published by . This book was released on 2007 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Maritta Paloviita
Publisher :
ISBN 13 :
Total Pages : 100 pages
Book Rating : 4.0/5 ( download)
Download or read book The Role of Expectations in Euro Area Inflation Dynamics written by Maritta Paloviita and published by . This book was released on 2005 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tiivistelmä.
Author : Patrick M. Crowley
Publisher : Nova Publishers
ISBN 13 : 9781600219474
Total Pages : 160 pages
Book Rating : 4.2/5 (194 download)
Download or read book EU Economic Policy at the Dawn of the Century written by Patrick M. Crowley and published by Nova Publishers. This book was released on 2008 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Union (EU) has undergone remarkable change in the last century, from frequent conflicts in the first part of the last century, to peace, stability and unprecedented prosperity in the second half. As we move into the first half of the twenty-first century, there is also a sense that a fragile economic renaissance is underway in the EU, but one that is fraught with challenges and difficulties. Contrary to many of the vociferous critics of the single currency project (mostly US economists and some UK politicians, most notably Thatcher (2002), to date the project has met with remarkable success, despite the dramatic fall in the euro from its launch date and the strains imposed on EU economies following the recent downturn in the world economy. EU Enlargement has now been successfully completed, and although there have been painful discussions on EU institutional reform to accommodate the expansion, a breakdown in the 2005 budget negotiations and an controversy over the implementation of the Stability and Growth pact, it is likely that this will not impede the addition of new Member States from the east.
Author : Nada Choueiri
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (318 download)
Download or read book Inflation Differentials in the EU: A Common ( Factors ) Approach with Implications for EU8 Euro Adoption Prospects written by Nada Choueiri and published by International Monetary Fund. This book was released on 2008 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores inflation determinants within the EU and implications for new members' euro adoption plans. Factor analysis partitions observed inflation in EU25 countries into common-origin and country-specific (idiosyncratic) components. Cross-country differences in common-origin inflation within the EU are found to depend on gaps in the initial price level, changes in the nominal effective exchange rate, the quality of institutions, and the economy's flexibility. Idiosyncratic inflation is generally small in magnitude. Nonetheless, the results show that country-specific shocks have systematically pushed down headline inflation, potentially influencing the assessment of compliance with the Maastricht inflation criterion.
Author : Emil Stavrev
Publisher : INTERNATIONAL MONETARY FUND
ISBN 13 : 9781451871999
Total Pages : 16 pages
Book Rating : 4.8/5 (719 download)
Download or read book Forces Driving Inflation in the New EU10 Members written by Emil Stavrev and published by INTERNATIONAL MONETARY FUND. This book was released on 2009-03-01 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper analyzes the forces driving inflation in the new EU10 member countries. A significant part of headline inflation in these countries is due to common factors, such as price level convergence and EU integration. However, idiosyncratic factors have also played a role in the inflation process. These factors are related to the country-specific financial conditions, pass-through from foreign prices, and demand-supply situation in each country, although administered price adjustments and increases of indirect taxes associated with EU accession are also likely to have played a role.
Author : Olga Arratibel
Publisher :
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4.:/5 (237 download)
Download or read book Inflation Dynamics and Dual Inflation in Accession Countries written by Olga Arratibel and published by . This book was released on 2002 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Katarzyna Baran
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Inflation Criterion in the Enlarged European Union - Summary of the Discussion on Lithuania written by Katarzyna Baran and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The example of Lithuania shows, that using hitherto existing interpretation of inflation criterion in the EU of 27 members has distinct implications for the expansion of the euro area. In the comming years, structural factors, related to the process of catching-up with highly developed European economies, will have significant influence on the inflation rate in the new EU member states from Central Eastern Europe. Since the inception of the euro area, the reference value of the inflation criterion is determined both by the single ECB monetary policy as well as by independent monetary policies of the EU member states outside the euro area. In the enlarged EU this results in a growing divergence between the reference value of the inflation criterion and the euro area inflation rate. The article indicates proposals of changes which would better allow for taking into consideration the dynamics of monetary integration within the EU, yet would not require changes of the Treaty provisions.
Author : Ronald MacDonald
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Catching-Up and Inflation Differentials in a Heterogeneous Monetary Union written by Ronald MacDonald and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose an alternative explanation for the nature, sources and consequences of inflation rate differentials in a monetary union, such as the euro area. We build on the new neoclassical synthesis (NNS) framework, recently advanced by Goodfriend (2002) and Goodfriend and King (2000). Based on the NNS setup, we discuss the inflationary consequences of the catching-up process in a heterogeneous monetary union. In particular, we explore the interaction between catching-up and inflation differentials and offer an interpretation of the nature of this interaction. We demonstrate that divergent inflation rates between Member States do not necessarily have to be an equilibrium phenomenon, even if the original shock comes from the supply-side of the economy. Second, we show how such divergence of individual country's inflation rates may arise when countries differ in size and in trend productivity growth.
Download or read book Hungarian Inflation Dynamics written by and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates traditional and New Phillips curves for Hungary over the sample period 1995Q1 to 2004Q1. It presents the first structural Phillips curve estimations for a New EU Member State economy. We find that Hungarian inflation dynamics can be reasonably well described by a standard New Hybrid Phillips curve and by its open economy extension specifying imported goods as intermediate production goods. Our estimation results indicate that Hungarian inflation is significantly more inertial than Euro area inflation. Hungarian inflation inertia appears to be the result of pervasive backward looking price setting behaviour, while prices seem to be reset more frequently than in the Euro area. At the same time, Hungarian inflation dynamics is comparable to that of countries characterized by a relatively high average inflation rate. -- New Keynesian Phillips curve ; Inflation dynamics ; Open economy
Author : Günter W. Beck
Publisher :
ISBN 13 :
Total Pages : 57 pages
Book Rating : 4.:/5 (642 download)
Download or read book Regional Inflation Dynamics Within and Across Euro Area Countries and a Compoarison with the US written by Günter W. Beck and published by . This book was released on 2006 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Antonin Rusek
Publisher : Palgrave MacMillan
ISBN 13 :
Total Pages : 296 pages
Book Rating : 4.3/5 (91 download)
Download or read book The Economic Performance of the European Union written by Antonin Rusek and published by Palgrave MacMillan. This book was released on 2009-01-15 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together a range of economists to provide a balanced look at recent EU dynamics and economic performance, as well an exploration of future issues facing member states.
