Inflation and Euro Membership
نویسندگان
چکیده
منابع مشابه
Inflation and inflation uncertainty in the Euro Area
This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the euro area, and investigates the linkages between them in a VAR framework, also allowing for the possible impact of the policy regime change associated with the start of EMU in 1999. The main findings are as follows. Steady-state inflation and inflation uncertainty have declined st...
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I n January 1999, eleven European countries abandoned their respective national currencies and monetary independence to adopt a common currency, the Euro.1 This event, in which several industrialized countries formed a currency union, stands out in modern monetary history by its uniqueness, and in due time, it will allow for a better understanding of the implications of different monetary arran...
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This paper investigates the long-run convergence of national inflation rates in the European Union. The application of a new test is proposed that involves unit root testing of the first principal component based on national-EU inflation differentials. Using inflation data based on harmonized consumer price indices for 1999-2007, the first principal component is stationary. This suggests that a...
متن کاملVii. Inflation Persistence in the Euro Area
Euro area inflation stubbornly above 2 per cent Headline inflation in the euro area has, on average, remained stubbornly above 2 per cent -the upper limit of the European Central Bank’s definition of medium-term price stability -for most of the period since mid-2000. This persistence may seem puzzling in the light of weakness in activity and is only partly explained by factors like oil and food...
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ژورنال
عنوان ژورنال: Journal of Economic Integration
سال: 2020
ISSN: 1225-651X,1976-5525
DOI: 10.11130/jei.2020.35.2.264