root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors … descriptive statistics. Subsequently, we set out the possible mismatches between price level convergence and inflation rates … factors on observed inflation rates first in an accounting framework and then by relying on panel estimations. Our estimation …

root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors … descriptive statistics. Subsequently, we set out the possible mismatches between price level convergence and inflation rates … factors on observed inflation rates first in an accounting framework and then by relying on panel estimations. Our estimation …

exchange rate regime yields a lower loss compared to an inflation targeting policy, even if this policy ranking would be …-maker to adopt inflation targeting over a strict exchange rate targeting regime. Full credibility is not a precondition, but … exposure to foreign and financial shocks and high steady state inflation make joining the EMU relatively more attractive for a …

exchange rate regime yields a lower loss compared to an inflation targeting policy, even if this policy ranking would be …-maker to adopt inflation targeting over a strict exchange rate targeting regime. Full credibility is not a precondition, but … exposure to foreign and financial shocks and high steady state inflation make joining the EMU relatively more attractive for a …