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A Bottom-Up Reduced Form Phillips Curve for the Euro Area

McGregor, Thomas; Toscani, Frederik - 2022

We develop a bottom-up model of inflation in the euro area based on a set of augmented Phillips curves for seven subcomponents of core inflation and auxiliary regressions for non-core items. We use the model’s disaggregated structure to explore which factors drove the deterioration in...

Persistent link: https://www.econbiz.de/10014264528

Adjustment in EMU : is convergence assured?

Dullien, Sebastian; Fritsche, Ulrich; Größl, Ingrid; … - 2009

Using a modified version of the model presented by Belke and Gros (2007), we analyze the stability of adjustment in a currency union. Using econometric estimates for parameter values we check the stability conditions for the 11 original EMU countries and Greece. We found significant instability...

Persistent link: https://www.econbiz.de/10010425867

Analysing convergence in Europe using a non-linear single factor model

Fritsche, Ulrich; Kuzin, Vladimir - 2008

We investigate convergence in European price level, unit labor cost, income, and productivity data over the period of … extremely flexible on order to model a large number of transition paths to convergence. We find regional clusters in consumer … indicate the existence of three convergence clubs without strong regional linkages; Italy and Germany are not converging to any …

Persistent link: https://www.econbiz.de/10010426359

Does the dispersion of unit labor cost dynamics in the EMU imply long-run divergence? : results from a comparison with the United States of America and Germany

Dullien, Sebastian; Fritsche, Ulrich - 2007

inflation convergence using different approaches, namely panel unit root tests, cointegration tests and error-correction models …. All in all we cannot reject convergence of ULC growth in EMU, however, country-specific deviations from the rest of the …

Persistent link: https://www.econbiz.de/10010426361

Till labor cost do us part : on the long run convergence of EMU countries

Pancotto, Francesca; Pericoli, Filippo Maria - 2011

A sustainable long-run pattern in the relative competitiveness of euro area countries is a key factor for the survivorship of the monetary union. We analyze the issue focussing on unit labor cost dynamics using cointegration analysis for the whole economy and for the manufacturing sector...

Persistent link: https://www.econbiz.de/10011735051

Adjustment in EMU: is convergence assured?

Dullien, Sebastian; Fritsche, Ulrich; Größl, Ingrid; … - 2009

adjustment, the adjustment to a price shock in EMU might take several decades. Keywords: EMU, convergence, stability …

Persistent link: https://www.econbiz.de/10003915319

Structural Adjustment of São Paulo Sugarcane Plantation in the Euro 7 Context

Shinkoda, Marcelo Henrique; da Costa Silva, Maria Micheliana - 2021

This article analyzes the replacement of Sugarcane by the adequate crop considering the producer's choices according to the dimensions of soil, relief, climate, and precipitation in São Paulo state, Brazil. The panorama is the hypothetical end of the combustion engine in the Euro 7 emissions...

Persistent link: https://www.econbiz.de/10013213010

Biases in Survey Inflation Expectations : Evidence from the Euro Area

Chen, Jiaqian; Górnicka, Lucyna; Zdarek, Vaclav - 2022

This paper documents five facts about inflation expectations in the euro area. First, individual inflation forecasts overreact to individual news. Second, the cross-section average of individual forecasts of inflation underreact to shocks initially, but overreacts in the medium term. Third,...

Persistent link: https://www.econbiz.de/10014238518

“El Niño” and “La Niña” : revisiting the impact on food commodity prices and euro area consumer prices

Borrallo, Fructuoso; Cuadro-Sáez, Lucía; Ghirelli, Corinna - 2024

Persistent link: https://www.econbiz.de/10015073191

Evaluating the New Keynesian Phillips Curve under VAR-based learning

Fanelli, Luca (contributor) - 2008

This paper proposes an econometric evaluation of the New Keynesian Phillips Curve (NKPC) in the euro area, under a particular specification of the adaptive learning hypothesis. The key assumption is that agents' perceived law of motion is a Vector Autoregressive (VAR) model, whose coefficients...

Persistent link: https://www.econbiz.de/10003764621

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