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Inflation volatility is clearly important for structural analysis, forecasting and policy purposes, yet it is often … overlooked in the literature. This paper compares inflation volatility among advanced open economies with inflation targeting …, the volatility of inflation was similar among countries, even when controlling for monetary policy activity and other …
Persistent link: https://www.econbiz.de/10012827759
This paper decomposes the time-varying effect of exogenous exchange rate shocks on euro area countries inflation into … quarters of the past six years, especially in turning point periods. Our main results indicate that headline inflation in euro … inflation this increasing sensitivity is solely reliant on a sustained surge in the degree of comovement, for energy inflation …
Persistent link: https://www.econbiz.de/10012838756
Inflation volatility is clearly important for structural analysis, forecasting and policy purposes, yet it is often …
Persistent link: https://www.econbiz.de/10012422110
In this paper we explore the link between the intensity of product market competition and inflation rates across EU … countries and sectors. We consider long-term averages of inflation rates in order to remove the cyclical behavior of inflation … product market competition, as proxied by the level of mark-up in particular, is an important driver of inflation …
Persistent link: https://www.econbiz.de/10011604499
setting behaviour of Portuguese firms. Inflation, the level of economic activity and the magnitude of the last price change …
Persistent link: https://www.econbiz.de/10011604557
This paper shows that inflation in industrialized countries is largely a global phenomenon. First, inflations of (22 … associated to Global Inflation is not only due to the trend components of inflation (up from 1960 to 1980 and down thereafter …) but also to fluctuations at business cycle frequencies. Second, Global Inflation is, consistently with standard models of …
Persistent link: https://www.econbiz.de/10011604583
The purpose of this paper is to evaluate the empirical relevance of real convergence on the process of nominal convergence for the new EU Member States. We discuss two of the main channels through which real convergence could affect relative prices with respect to the euro area: productivity...
Persistent link: https://www.econbiz.de/10011604873
We model provincial inflation in China during the reform period. In particular, we are interested in the ability of the … hybrid New Keynesian Phillips Curve (NKPC) to capture the inflation process at the provincial level. The study highlights … differences in inflation formation and shows that the NKPC provides a reasonable description of the inflation process only for the …
Persistent link: https://www.econbiz.de/10011604875
indicators in predicting euro area HICP inflation out-of-sample over the period first quarter 1999 till third quarter 2006 …
Persistent link: https://www.econbiz.de/10011604913
coordinated wage bargaining systems have a dampening impact on inflation volatility. …
Persistent link: https://www.econbiz.de/10011605051