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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
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
area inflation ; heterogeneity ; panel VAR model …
Persistent link: https://www.econbiz.de/10003871916
and beyond the determinants of currency invoicing (i.e., inflation rate, inflation volatility, foreign exchange market … by a drop in inflation volatility. -- euro ; invoicing currency ; exchange rate risk ; inflation ; inflation risk …
Persistent link: https://www.econbiz.de/10003969238
Persistent link: https://www.econbiz.de/10003496544
Persistent link: https://www.econbiz.de/10003395399
Up to now there was a general conviction that increasing unemployment and inflation have a negative impact on the … the Schröder government. While the results for the former show the known pattern, neither unemployment nor inflation is … respect to inflation, however, the citizens might have recognised that they cannot any longer hold the government responsible …
Persistent link: https://www.econbiz.de/10003923218
inflation bias as monetary policy tries to exploit nominal wage contracts to address labour-market distortions Although an … inflation target eliminates this inflation bias, it creates a conflict between monetary policy and discretionary fiscal policy …
Persistent link: https://www.econbiz.de/10011398780
compares price inflation before the crisis with the necessary and actual price cuts that have taken place since the outbreak of … the crisis, predicting a decade of stagnation for the south and inflation for the north. Keynesian demand policy is … steered to uses they are keen to avoid. -- competitiveness ; inflation ; realignment ; Keynesian policy …
Persistent link: https://www.econbiz.de/10009691625