Sources of Inflation Persistence in the Euro Area:
In recent years, inflation in the euro area has failed to decelerate decisively while cyclical slack built up in the economy. Is this phenomenon more than a peculiarity in recent data? Is it related to structural policy settings? Econometric analysis conducted on two decades of quarterly data coveri...
Gespeichert in:
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| Weitere Verfasser: | , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2005
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| Schriftenreihe: | OECD Economics Department Working Papers
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | In recent years, inflation in the euro area has failed to decelerate decisively while cyclical slack built up in the economy. Is this phenomenon more than a peculiarity in recent data? Is it related to structural policy settings? Econometric analysis conducted on two decades of quarterly data covering 17 countries yields a yes on both counts. First, inflation is shown to respond significantly more weakly to cyclical slack in the euro area than in countries such as the United Kingdom, the United States or Canada. Secondly, this lack of responsiveness is found to be related in a statistically significant way to more rigid structural policy settings. The results pass a wide range of robustness checks. This Working Paper relates to the 2005 OECD Economic Survey of the euro area (www.oecd.org/eco/surveys/euroarea) |
| Beschreibung: | 1 Online-Ressource (31 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/854075872581 |
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| spelling | Cournède, Boris Verfasser aut Sources of Inflation Persistence in the Euro Area Boris Cournède, Alexandra Janovskaia and Paul van den Noord = Les causes de la persistance de l'inflation dans la zone euro / Boris Cournède, Alexandra Janovskaia et Paul van den Noord Les causes de la persistance de l'inflation dans la zone euro Paris OECD Publishing 2005 1 Online-Ressource (31 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers In recent years, inflation in the euro area has failed to decelerate decisively while cyclical slack built up in the economy. Is this phenomenon more than a peculiarity in recent data? Is it related to structural policy settings? Econometric analysis conducted on two decades of quarterly data covering 17 countries yields a yes on both counts. First, inflation is shown to respond significantly more weakly to cyclical slack in the euro area than in countries such as the United Kingdom, the United States or Canada. Secondly, this lack of responsiveness is found to be related in a statistically significant way to more rigid structural policy settings. The results pass a wide range of robustness checks. This Working Paper relates to the 2005 OECD Economic Survey of the euro area (www.oecd.org/eco/surveys/euroarea) Economics Euro Area Janovskaia, Alexandra ctb van den Noord, Paul ctb https://doi.org/10.1787/854075872581 Verlag kostenfrei Volltext |
| spellingShingle | Cournède, Boris Sources of Inflation Persistence in the Euro Area Economics Euro Area |
| title | Sources of Inflation Persistence in the Euro Area |
| title_alt | Les causes de la persistance de l'inflation dans la zone euro |
| title_auth | Sources of Inflation Persistence in the Euro Area |
| title_exact_search | Sources of Inflation Persistence in the Euro Area |
| title_exact_search_txtP | Sources of Inflation Persistence in the Euro Area |
| title_full | Sources of Inflation Persistence in the Euro Area Boris Cournède, Alexandra Janovskaia and Paul van den Noord = Les causes de la persistance de l'inflation dans la zone euro / Boris Cournède, Alexandra Janovskaia et Paul van den Noord |
| title_fullStr | Sources of Inflation Persistence in the Euro Area Boris Cournède, Alexandra Janovskaia and Paul van den Noord = Les causes de la persistance de l'inflation dans la zone euro / Boris Cournède, Alexandra Janovskaia et Paul van den Noord |
| title_full_unstemmed | Sources of Inflation Persistence in the Euro Area Boris Cournède, Alexandra Janovskaia and Paul van den Noord = Les causes de la persistance de l'inflation dans la zone euro / Boris Cournède, Alexandra Janovskaia et Paul van den Noord |
| title_short | Sources of Inflation Persistence in the Euro Area |
| title_sort | sources of inflation persistence in the euro area |
| topic | Economics Euro Area |
| topic_facet | Economics Euro Area |
| url | https://doi.org/10.1787/854075872581 |
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