The Dynamics of European Inflation Expectations PDF Download
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Author: Jörg Döpke
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Jörg Döpke
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Peter J. N. Sinclair
Publisher: Routledge
ISBN: 1135179778
Category : Business & Economics
Languages : en
Pages : 402
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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: 9783865580931
Category :
Languages : en
Pages : 46
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Author: Maritta Paloviita
Publisher:
ISBN: 9789524624732
Category :
Languages : en
Pages : 61
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Author: Maritta Paloviita
Publisher:
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 100
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Book Description
Tiivistelmä.
Author: Mr.Yasser Abdih
Publisher: International Monetary Fund
ISBN: 1484372565
Category : Business & Economics
Languages : en
Pages : 25
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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
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Book Description
Tiivistelmä: Euroalueen inflaatiodynamiikka ja odotusten merkitys : lisätuloksia.
Author: Anke Weber
Publisher:
ISBN:
Category :
Languages : en
Pages : 56
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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
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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.
Author: Juan Angel Garcia
Publisher: International Monetary Fund
ISBN: 1484363019
Category : Business & Economics
Languages : en
Pages : 59
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Book Description
Do euro area inflation expectations remain well-anchored? This paper finds that the protracted period of low (and below-target) inflation in the euro area since 2013 has weakened their anchoring. Testing their sensitivity to inflation and macroeconomic news, this paper expands existing results in two key dimensions. First, by analyzing all available (advanced) inflation releases. Second, the reactions of expectations are investigated at daily, time-varying and intraday frequency regressions to add robustness to our conclusions. Results point to a significant impact of inflation news over recent years that had not been observed before in the euro area.
