Verfügbarkeit: Disinflation in Spain

Disinflation in Spain: The Recent Experience

This paper investigates the causes of the recent disinflation in Spain. A standard Phillips curve model is used to disentangle the contributions of three possible shocks: an adverse demand shock that raises unemployment, a positive supply shock resulting from relative price adjustments or structural...

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1. Verfasser:	Sobczak, Nicolas (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Washington, D.C International Monetary Fund 1998
Schriftenreihe:	IMF Working Papers Working Paper No. 98/106
Online-Zugang:	UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers
Zusammenfassung:	This paper investigates the causes of the recent disinflation in Spain. A standard Phillips curve model is used to disentangle the contributions of three possible shocks: an adverse demand shock that raises unemployment, a positive supply shock resulting from relative price adjustments or structural improvements in the labor market, and a credibility shock that lowers inflationary expectations. The main element underlying Spain's recent disinflation appears to be a fall in inflation expectations, thanks to the country's commitment to participate in Economic and Monetary Union from the start, and policy actions geared to that end
Beschreibung:	1 Online-Ressource (30 p)
ISBN:	145185286X 9781451852868

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spelling	Sobczak, Nicolas Verfasser aut Disinflation in Spain The Recent Experience Sobczak, Nicolas Washington, D.C International Monetary Fund 1998 1 Online-Ressource (30 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 98/106 This paper investigates the causes of the recent disinflation in Spain. A standard Phillips curve model is used to disentangle the contributions of three possible shocks: an adverse demand shock that raises unemployment, a positive supply shock resulting from relative price adjustments or structural improvements in the labor market, and a credibility shock that lowers inflationary expectations. The main element underlying Spain's recent disinflation appears to be a fall in inflation expectations, thanks to the country's commitment to participate in Economic and Monetary Union from the start, and policy actions geared to that end Online-Ausg http://elibrary.imf.org/view/IMF001/01770-9781451852868/01770-9781451852868/01770-9781451852868.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Sobczak, Nicolas Disinflation in Spain The Recent Experience
title	Disinflation in Spain The Recent Experience
title_auth	Disinflation in Spain The Recent Experience
title_exact_search	Disinflation in Spain The Recent Experience
title_exact_search_txtP	Disinflation in Spain The Recent Experience
title_full	Disinflation in Spain The Recent Experience Sobczak, Nicolas
title_fullStr	Disinflation in Spain The Recent Experience Sobczak, Nicolas
title_full_unstemmed	Disinflation in Spain The Recent Experience Sobczak, Nicolas
title_short	Disinflation in Spain
title_sort	disinflation in spain the recent experience
title_sub	The Recent Experience
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