the effects of joining a monetary union on output and inflation variability in small acceding countries. An asymmetric …, (ii) monetary union. The performance of the two regimes is analyzed in terms of inflation and output variability for a …

In the paper we propose a new methodological approach to core inflation estimation, based on a frequency domain … principal components estimator, suited to estimate systems of fractionally cointegrated processes. The proposed core inflation … measure is the scaled common persistent factor in inflation and excess nominal money growth and bears the interpretation of …

In the paper we propose a new methodological approach to core inflation estimation, based on a frequency domain … principal components estimator, suited to estimate systems of fractionally cointegrated processes. The proposed core inflation … measure is the scaled common persistent factor in inflation and excess nominal money growth and bears the interpretation of …

higher degree of persistence than allowed for in the standard cointegration framework. We investigate both inflation and …This paper measures the convergence or divergence of EMU inflation rates and industrial production by testing for the … existence of fractional cointegration relations. The notion of fractional cointegration allows for long-term equilibria with a …