Rigidities and inflation persistence of services and regulated prices
This paper studies price level rigidity and inflation persistence for EU15 member states using data on more than 1500 HICP sub-indices. Services and HICP sub-indices subject to price regulation exhibit a higher degree of price rigidity, with less frequent but larger index changes and a stronger asymmetry between increases and decreases. For most countries as well as for the EU15 and the euro area aggregates, excluding services from the HICP leads to a lower measured degree of inflation persistence; a similar though smaller effect is obtained by removing regulated indices from the HICP. Copyright © 2010 John Wiley & Sons, Ltd.
Year of publication: |
2010
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Authors: | Lünnemann, Patrick ; Mathä, Thomas Y. |
Published in: |
Managerial and Decision Economics. - John Wiley & Sons, Ltd., ISSN 0143-6570. - Vol. 31.2010, 2-3, p. 193-208
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Publisher: |
John Wiley & Sons, Ltd. |
Saved in:
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