The Dynamics of European Inflation Expectations PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Dynamics of European Inflation Expectations PDF full book. Access full book title The Dynamics of European Inflation Expectations by Jörg Döpke. Download full books in PDF and EPUB format.
Author: Jörg Döpke
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Jörg Döpke
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Peter J. N. Sinclair
Publisher: Routledge
ISBN: 1135179778
Category : Business & Economics
Languages : en
Pages : 402
Get Book Here
Book Description
Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
Author: Jörg Döpke
Publisher:
ISBN:
Category :
Languages : en
Pages : 56
Get Book Here
Book Description
This paper investigates the relevance of the sticky information model of Mankiw and.
Author: Maritta Paloviita
Publisher:
ISBN: 9789524624732
Category :
Languages : en
Pages : 61
Get Book Here
Book Description
Author: Maritta Paloviita
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 100
Get Book Here
Book Description
Tiivistelmä.
Author: Mr.Yasser Abdih
Publisher: International Monetary Fund
ISBN: 1484372565
Category : Business & Economics
Languages : en
Pages : 25
Get Book Here
Book Description
Despite closing output gaps and tightening labor markets, inflation has remained low in the euro area. Based on an augmented Phillips Curve framework, we find that this phenomenon—sometimes attributed to low global inflation—has been primarily caused by a remarkable persistence of inflation, keeping it low despite the reduction in slack. This feature is shown to be specific to the euro area (in comparison with the United States). Monetary policy needs to stay accommodative to help guide inflation back to target.
Author: Maritta Paloviita
Publisher:
ISBN: 9789524621601
Category : Inflation (Finance)
Languages : en
Pages : 24
Get Book Here
Book Description
Tiivistelmä: Euroalueen inflaatiodynamiikka ja odotusten merkitys : lisätuloksia.
Author: Jordi Galí
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 50
Get Book Here
Book Description
We provide evidence on the fit of the New Phillips Curve (NPQ for the Euro area over the period 1970-1998, and use it as a tool to compare the characteristics of European inflation dynamics with those observed in the U.S. We also analyze the factors underlying inflation inertia by examining the cyclical behavior of marginal costs, as well as that of its two main components, namely, labor productivity and real wages. Some of the findings can be summarized as follows: (a) the NPC fits Euro area data very well, possibly better than U.S. data, (b) the degree of price stickiness implied by the estimates is substantial, but in line with survey evidence and U.S. estimates, (c) inflation dynamics in the Euro area appear to have a stronger forward- looking component (i.e., less inertia) than in the U.S., (d) labor market frictions, as manifested in the behavior of the wage markup, appear to have played a key role in shaping the behavior of marginal costs and, consequently, inflation in Europe.
Author: Anke Weber
Publisher:
ISBN:
Category :
Languages : en
Pages : 56
Get Book Here
Book Description
This paper is the first attempt to investigate the performance of different learning rules in fitting survey data of household and expert inflation expectations in five core European economies (France, Germany, Italy, Netherlands and Spain). Overall it is found that constant gain learning performs well in out-of-sample forecasting. It is also shown that households in high inflation countries are using higher best fitting constant gain parameters than those in low inflation countries. They are hence able to pick up structural changes faster. Professional forecasters update their information sets more frequently than households. Furthermore, household expectations in the Euro Area have not converged to the inflation goal of the ECB, which is to keep inflation below to but close to 2% in the medium run. This contrasts the findings for professional experts, which seem to be more inclined to incorporate the implications of monetary union for the convergence in inflation rates into their expectations.
Author: Vizhdan Boranova
Publisher: International Monetary Fund
ISBN: 1513521276
Category : Business & Economics
Languages : en
Pages : 40
Get Book Here
Book Description
Wages have been rising faster than productivity in many European countries for the past few years, yet signs of underlying consumer price pressures remain limited. To shed light on this puzzle, this paper examines the historical link between wage growth and inflation in Europe and factors that influence the strength of the passthrough from labor costs to prices. Historically, wage growth has led to higher inflation, but the impact has weakened since 2009. Empirical analysis suggests that the passthrough from wage growth to inflation is significantly lower in periods of subdued inflation and inflation expectations, greater competitive pressures, and robust corporate profitability. Thus the recent pickup in wage growth is likely to have a more muted impact on inflation than in the past.