BIBLIOTECA MANUEL BELGRANO - Facultad de Ciencias Económicas - UNC

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Inflation and relative price variability in the euro area : evidence from a panel threshold model / Dieter Nautz, Juliane Scharff.

Por: Colaborador(es): Tipo de material: TextoTextoSeries Discussion paper (Deutsche Bundesbank). Series 1: economic studies ; ; no. 14/2006Detalles de publicación: Frankfurt am Main : Deutsche Bundesbank, 2006Descripción: 45 pISBN:
  • 3865581439
Tema(s): Clasificación CDD:
  • 21 332.41094
Recursos en línea: Resumen: In recent macroeconomic theory, relative price variability (RPV) generates the central distortions of inflation. This paper provides first evidence on the empirical relation between inflation and RPV in the euro area focusing on threshold effects of inflation. We find that expected inflation significantly increases RPV if inflation is either very low (below -1.38% p.a.) or very high (above 5.94% p.a.). In the intermediate regime, however, expected inflation has no distorting effects which supports price stability as an outcome of optimal monetary policy.
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Documento Documento Biblioteca Manuel Belgrano F 332.41094 N 20933 (Navegar estantería(Abre debajo)) Disponible 20933 F

Bibliografía: p. 25-27.

In recent macroeconomic theory, relative price variability (RPV) generates the central distortions of inflation. This paper provides first evidence on the empirical relation between inflation and RPV in the euro area focusing on threshold effects of inflation. We find that expected inflation significantly increases RPV if inflation is either very low (below -1.38% p.a.) or very high (above 5.94% p.a.). In the intermediate regime, however, expected inflation has no distorting effects which supports price stability as an outcome of optimal monetary policy.

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