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Exchange rate pass-through in the euro area and EU countries
Ortega, Eva; Osbat, Chiara - 2020
Aggregate exchange rate pass-through (ERPT) to import and consumer prices in the EU is currently lower than it was in the 1990s and is non-linear. Low estimated aggregate ERPT to consumer prices does not at all mean that exchange rate movements do not have an impact on inflation, as aggregate...
Persistent link: https://www.econbiz.de/10012206373
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The European Monetary Union as a Commitment Device for New EU Member States
Ravenna, Federico - 2021
This paper shows that the credibility gain from permanently committing to a fixed exchange rate by joining the European … credibility a pegged exchange rate regime yields a lower loss compared to an inflation targeting policy, even if this policy … ranking would be reversed in a full-credibility environment. There exists an initial stock of credibility that must be …
Persistent link: https://www.econbiz.de/10013318342
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Non-Linear Exchange Rate Pass-Through to Euro Area Inflation : A Local Projection Approach
Colavecchio, Roberta - 2020
How long does it take for exchange rate changes to pass through into inflation? Does it make a difference whether the exchange rate depreciates or appreciates? Do relatively large exchange rate changes entail more exchange rate pass-through? In this paper, we examine possible non-linearities in...
Persistent link: https://www.econbiz.de/10012842745
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Non-Linear Exchange Rate Pass-Through to Euro Area Inflation : A Local Projection Approach
Colavecchio, Roberta - 2020
How long does it take for exchange rate changes to pass through into inflation? Does it make a difference whether the exchange rate depreciates or appreciates? Do relatively large exchange rate changes entail more exchange rate pass-through? In this paper, we examine possible non-linearities in...
Persistent link: https://www.econbiz.de/10012844267
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Exchange Rate Pass-Through into Euro Area Inflation. An Estimated Structural Model
Burlon, Lorenzo - 2019
We evaluate the exchange rate pass-through (ERPT) into euro area (EA) inflation by estimating an open economy New Keynesian model with Bayesian methods. In the model ERPT is incomplete because of local currency pricing and distribution services, with the latter allowing to distinguish between...
Persistent link: https://www.econbiz.de/10012867175
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Exchange Rate Pass-Through in the Euro Area and EU Countries
Ortega, Eva - 2020
Aggregate exchange rate pass-through (ERPT) to import and consumer prices in the EU is currently lower than it was in the 1990s and is non-linear. Low estimated aggregate ERPT to consumer prices does not at all mean that exchange rate movements do not have an impact on inflation, as aggregate...
Persistent link: https://www.econbiz.de/10012836179
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Exchange Rate Pass-through in the Euro Area and EU Countries
Ortega, Eva - 2020
Aggregate exchange rate pass-through (ERPT) to import and consumer prices in the EU is currently lower than it was in the 1990s and is non-linear. Low estimated aggregate ERPT to consumer prices does not at all mean that exchange rate movements do not have an impact on inflation, as aggregate...
Persistent link: https://www.econbiz.de/10012832173
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Assessing the Pass-through of Energy Prices to Inflation in the Euro Area
Corsello, Francesco; Tagliabracci, Alex - 2023
This paper focuses on the developments of energy prices since mid-2021 and assesses their impact on euro-area headline inflation, also considering the indirect transmission through the core and food components. We find that, while the contribution of energy inflation to core and food inflation...
Persistent link: https://www.econbiz.de/10014348388
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Assessing the pass-through of energy prices to inflation in the euro area
Corsello, Francesco; Tagliabracci, Alex - 2023
This paper focuses on the developments of energy prices since mid-2021 and assesses their impact on euro-area headline inflation, also considering the indirect transmission through the core and food components. We find that, while the contribution of energy inflation to core and food inflation...
Persistent link: https://www.econbiz.de/10014257767
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The European Monetary Union as a commitment device for new EU member states
Ravenna, Federico - 2005
This paper shows that the credibility gain from permanently committing to a fixed exchange rate by joining the European … credibility a pegged exchange rate regime yields a lower loss compared to an inflation targeting policy, even if this policy … ranking would be reversed in a fullcredibility environment. There exists an initial stock of credibility that must be achieved …
Persistent link: https://www.econbiz.de/10011604562