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Real exchange rate volatility and disconnect: an empirical investigation
Cristadoro, Riccardo; Gerali, Andrea; Neri, Stefano; … - Banca d'Italia - 2008
A two-country model that incorporates many features proposed in the New Open Economy Macroeconomics literature is developed in order to replicate the volatility of the real exchange rate and its disconnect with macroeconomic variables. The model is estimated using data for the euro area and the...
Persistent link: https://www.econbiz.de/10005113550
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The price strategies of export-oriented Italian firms
Bugamelli, Matteo; Tedeschi, Roberto - Banca d'Italia - 2005
This paper estimates a pricing-to-market equation for Italy over the period 1990-99 with the aim of assessing the degree of exchange rate pass-through (ERPT). As compared to previous works, we minimize aggregation and selection biases using export data on all products (about 700 from 4 digits of...
Persistent link: https://www.econbiz.de/10005113639
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Macroeconomics of international price discrimination
Corsetti, Giancarlo; Dedola, Luca - Banca d'Italia - 2002
This paper builds a baseline two-country model of real and monetary transmission in the presence of optimal international price discrimination by firms. Distributing traded goods to consumers requires nontradables, intensive in local labor. Because of distributive trade the price elasticity of...
Persistent link: https://www.econbiz.de/10005113668
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The Seasonal Adjustment of the harmonised Index of Consumer Prices for the Euro Area: a Comparison of Direct and Indirect Methods.
Cristadoro, Riccardo; Sabbatini, Roberto - Banca d'Italia - 2000
is important for better monitoring and forecasting of inflation in the euro area. In this paper we seek to verify to what …
Persistent link: https://www.econbiz.de/10005113568
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Inflation, growth and monetary control : non-linear lessons from crisis and recovery
Bruno, Michael - 1995
Persistent link: https://www.econbiz.de/10000922411
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The Eurosystem�s asset purchase programmes for monetary policy purposes
Cova, Pietro; Ferrero, Giuseppe - Banca d'Italia - 2015
transmission channels by which the purchases can be expected to affect economic activity and inflation. Then we assess the effects …
Persistent link: https://www.econbiz.de/10011277927
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Down the non-linear road from oil to consumer energy prices: no much asymmetry along the way
Venditti, Fabrizio - Banca d'Italia - 2010
In the past decade changes in oil prices have played a significant role in shaping inflation dynamics in the US and in …
Persistent link: https://www.econbiz.de/10008626023
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Central Bank Independence, Centralization of Wage Bargaining, Inflation and Unemployment: Theory and Evidence
Cukierman, Alex; Lippi, Francesco - Banca d'Italia - 1998
wage, unemployment and inflation. This is done by considering a two-stage strategic interaction between a central bank (CB … wages of other unions and the reaction-function of the CB as given. In the second stage the CB picks inflation so as to … minimize the combined costs of inflation and unemployment, taking union's wage rates as given. Since unions are averse to …
Persistent link: https://www.econbiz.de/10005111579
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Excess money growth and inflation dynamics
Roffia, Barbara; Zaghini, Andrea - Banca d'Italia - 2008
The paper analyzes the short-run impact of periods of strong monetary growth on inflation dynamics for 15 …
Persistent link: https://www.econbiz.de/10005770764