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International Food Commodity Prices and Missing (Dis)Inflation in the Euro Area
Peersman, Gert - 2019
This paper examines the causal effects of shifts in international food commodity prices on euro area inflation dynamics …%- 30% of inflation volatility. In addition, large autonomous swings in international food prices contributed significantly … to the twin puzzle of missing disinflation and missing inflation in the era after the Great Recession. Specifically …
Persistent link: https://www.econbiz.de/10012892245
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Vehicle Currency Pricing and Exchange Rate Pass-Through
Chen, Natalie - 2019
Using detailed firm-level transactions data for UK imports, we find that invoicing in a vehicle currency is pervasive, with more than half of transactions in our sample invoiced in neither sterling nor the exporter’s currency. We then study the relationship between invoicing currency...
Persistent link: https://www.econbiz.de/10012867016
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Exchange Rate Pass-Through to Food and Energy Consumer Price Inflation
Moessner, Richhild - 2023
This paper studies exchange rate pass-through to food and energy consumer price inflation and its dependence on the … inflation environment using cross-country panel estimation of Phillips curves. It considers a large panel of OECD member and … inflation and also significant for food CPI inflation. A 10% depreciation in the exchange rate leads to an increase in energy …
Persistent link: https://www.econbiz.de/10014264164
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Effects of Precipitation on Food Consumer Price Inflation
Moessner, Richhild - 2022
We study how precipitation has affected food consumer price inflation (CPI), using dynamic panel estimation of food CPI …. We allow for nonlinear effects of precipitation on food CPI inflation, and also control for possible nonlinear effects of … temperature. We find that precipitation has significant nonlinear effects on food CPI inflation. The coefficient of food CPI …
Persistent link: https://www.econbiz.de/10014244341
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Exchange Rates and Consumer Prices : Evidence from Brexit
Breinlich, Holger - 2020
costs across product groups. We show that, after the referendum, inflation increased by more for product groups with higher …
Persistent link: https://www.econbiz.de/10012844422
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Urban Wage Premia, Cost of Living, and Collective Bargaining
Belloc, Marianna - 2020
In this paper, we estimate the urban wage premia (UWP) in Italy, with its economy characterized by the interplay between collective bargaining and spatial heterogeneity in the cost of living. We implement a reduced-form regression analysis using both nominal and real (in temporal and spatial...
Persistent link: https://www.econbiz.de/10012851028
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On the Pass-Through of Large Devaluations
Casacuberta, Carlos; Licandro, Omar - 2023
In 2002 Uruguay faced a sudden stop of international capital flows, inducing a deep financial crisis and a large devaluation of the peso. The real exchange rate depreciated and exports expanded. Paradoxically, export shares and real exchange rates negatively correlate among Uruguayan exporters...
Persistent link: https://www.econbiz.de/10014357036
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Measuring Euro Area Monetary Policy
Altavilla, Carlo - 2019
We study the information flow from the ECB on policy dates since its inception, using tick data. We show that three factors capture about all of the variation in the yield curve but that these are different factors with different variance shares in the window that contains the policy decision...
Persistent link: https://www.econbiz.de/10012867012
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Measuring the Immeasurable : The Evolution of the Size of Informal Economy in the Agricultural Sector in the EU-15 Up to 2019
Schneider, Friedrich; Morkunas, Mangirdas; Quendler, Erika - 2021
This study is the first scientific attempt to calculate the size of the informal economy in agriculture. The Multiple indicators multiple causes model (MIMIC) was developed for the estimation of levels of informal economy in 15 “Old” European Union Member States’ agricultural sectors for...
Persistent link: https://www.econbiz.de/10013239559
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Productivity, Place, and Plants : Revisiting the Measurement
Schoefer, Benjamin; Ziv, Oren - 2021
Why do cities differ so much in productivity? We document that most of the measured dispersion in productivity across US cities is spurious and reflects granularity bias: idiosyncratic heterogeneity in plant-level productivity and size, combined with finite plant counts. As a result, economies...
Persistent link: https://www.econbiz.de/10013250039