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between the countries of the Euro area. We find a strong negative correlation between wealth inequality and homeownership … by homeownership status shows that the negative relationship is mostly driven by large between-group inequality across … crosscountry inequality differences. We confirm the major role for homeownership rates in accounting for the wealth inequality …
Persistent link: https://www.econbiz.de/10011334237
This paper examines the responses of private consumption, residential investment, and business investment in 11 EU countries, Japan, and the United States to shocks in housing and equity prices. The effects are assessed with a Structural Vector Auto Regressive (SVAR) model, and four key findings...
Persistent link: https://www.econbiz.de/10003730274
This paper analyses the determinants of short-term inflation expectations based on surveys of professionals, using … dynamic cross-country panel estimation for a large number of 34 OECD economies. We find that food consumer price inflation and … depreciations of the domestic exchange rate have significant positive effects on professionals' survey-based inflation expectations …
Persistent link: https://www.econbiz.de/10012745238
The paper addresses the question what effects the enlargement of a monetary union will have on necessary structural refoms in the (low distortion) member countries and the (high distortion) candidate country. While monetary union lowers reforms in the candidate country, members of the monetary...
Persistent link: https://www.econbiz.de/10009781545
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, without …
Persistent link: https://www.econbiz.de/10011931321
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/10012157863
We examine the relationship between inflation and fiscal sustainability with a two-step approach. In the first step, we … various measures of inflation such as headline inflation, core inflation, energy inflation, and food inflation affect the … estimate of fiscal sustainability found previously. Our findings indicate that higher inflation rates contribute positively to …
Persistent link: https://www.econbiz.de/10014444867
Persistent link: https://www.econbiz.de/10003726323
Persistent link: https://www.econbiz.de/10003766314
area inflation ; heterogeneity ; panel VAR model …
Persistent link: https://www.econbiz.de/10003871916