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rate instead is a very important driver for the inflation only considering the whole euro zone. Therefore, the EMU seems to …This paper provides an empirical study of the asymmetrical spillovers of the euro-US dollar exchange rate on inflation … confirmed. Note that the significance disappears if we control for the first three years of EMU, but the coefficients for core …
Persistent link: https://www.econbiz.de/10011108149
movements do not have an impact on inflation, as aggregate rules of thumb mask substantial heterogeneities across countries … deviations of inflation from target, including those relating to exchange rate fluctuations. Moreover, under the effective lower … inflation. …
Persistent link: https://www.econbiz.de/10012521145
Using data for 102 developing countries, it is shown that inflation persistence is particularly high in countries with … severe inflationary problems, and particularly low in countries on hard pegs. Inflation persistence is similar under floating …
Persistent link: https://www.econbiz.de/10005771615
In this paper, we analyze the presence of time variation in the pass-through from the nominal effective exchange rate to import prices for 24 advanced economies over the period 1995-2015. In line with earlier studies in the literature, we find substantial heterogeneity in the level of exchange...
Persistent link: https://www.econbiz.de/10011747729
Monetary Union (EMU). …
Persistent link: https://www.econbiz.de/10010898075
Which have been the consequences of the euro for integration and economic performance in the Baltic Sea region? After the collapse of the Soviet Union, the three Baltic states and Poland have been rapidly catching-up with Western Europe. The Great Recession became a great setback for the former,...
Persistent link: https://www.econbiz.de/10012433742
Economic theory and empirical evidence suggest that fluctuations in exchange rates may have strong reallocation effects. Accession to the Exchange Rate Mechanism in 1992, and then to the European Monetary Union in 1999, implied a drastic change in the behaviour of Portugal's exchange rate...
Persistent link: https://www.econbiz.de/10004999582
Economic theory and empirical evidence suggest that fluctuations in exchange rates may have strong reallocation effects. Accession to the Exchange Rate Mechanism in 1992, and then to the European Monetary Union in 1999, implied a drastic change in the behaviour of Portugal’s exchange rate...
Persistent link: https://www.econbiz.de/10005010470
exchange rate movements and the relative output movements of potential members of a European Monetary Union (EMU). We find that … results make it hard to argue that the loss of exchange rate flexibility accompanying EMU would come at a significant cost to …
Persistent link: https://www.econbiz.de/10005124317
structural asymmetries relative to African economies to show that without the “operations account” mechanismn, the EMU advent is …
Persistent link: https://www.econbiz.de/10004985052