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We analyze the determinants of the inflation trends in ten Southeast European (SEE) countries. Global cost …-related factors and euro area (EA) inflation developments play an important role in explaining inflation dynamics in SEE countries … exchange to euro area market appear to be susceptible to inflation spillovers from the euro area. Moreover, nominal effective …
Persistent link: https://www.econbiz.de/10012124587
, particularly those coming from the natural gas sector. The high peaks of the Eurozone inflation are mainly associated with gas … and inflation dynamics in Europe. Specifically, we include in our specification two separate energy markets (oil and … natural gas) and two target macroeconomic variables, measuring inflation expectations and the realized headline inflation. Our …
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European Central Bank in order to predict the consequences of its monetary policy on the inflation objective. …
Persistent link: https://www.econbiz.de/10011810457
Using a novel dataset that integrates inflation expectations with information on social network connections, we show … that inflation expectations within one's social network have a positive, causal relationship with individual inflation …, socially determined inflation expectations induce imperfect risk-sharing and can affect the inflation and real output …
Persistent link: https://www.econbiz.de/10015078554
The paper investigates the macroeconomic and financial effects of oil prices shocks in the euro area since its creation in 1999, with a special focus on the recent slump. The analysis is carried out episode by episode, within a time-varying parameter framework, consistent with the view that "not...
Persistent link: https://www.econbiz.de/10011451685
This paper develops a two-block Structural Vector Autoregression (SVAR) to estimate the spillover of external shocks to the Maltese economy. The model focuses on five broad macroeconomic shocks hitting the euro area; an aggregate demand shock, two aggregate supply shocks which respectively proxy...
Persistent link: https://www.econbiz.de/10012818649
This paper studies inflation persistence with time-varying coefficient autoregressions for twelve central European … countries,in comparison with the United States and the euro area. Inflation persistence tends to be higher in times of high … inflation. Since the oil price shocks, inflation persistence has declined both in the US and euro-area. In most central and …
Persistent link: https://www.econbiz.de/10009768497