Belke, Ansgar; Böing, Tobias - Rheinisch-Westfälisches Institut für … - 2014
The purpose of this article is to deliver new estimates of the sacrifice ratio of Euro area countries. A high sacrifice … estimate the cost of adjustments in inflation rates by the sacrifice ratio, we apply, firstly, a structural vector … episodes. Our findings indicate that most countries have sacrifice ratios of between –1 and 2 per cent of real GDP for a …