Dynamics and factors of inflation convergence in the European union

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F18%3A10375939" target="_blank" >RIV/00216208:11230/18:10375939 - isvavai.cz</a>
Result on the web
<a href="https://doi.org/10.1016/j.jimonfin.2018.04.002" target="_blank" >https://doi.org/10.1016/j.jimonfin.2018.04.002</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.jimonfin.2018.04.002" target="_blank" >10.1016/j.jimonfin.2018.04.002</a>

Result language
angličtina
Original language name
Dynamics and factors of inflation convergence in the European union
Original language description
We analyze inflation convergence in the whole European Union (EU) over 1999-2017. We provide comprehensive evidence that the process of inflation convergence among the countries of the EU was not permanently disrupted during the global financial crisis, the European sovereign debt crisis, or the period of zero lower bound interest rates. Specifically, the convergence process did not noticeably weaken after the crisis and the occurrence of inflation convergence became more widespread compared to the pre-crisis years. Our results are robust with respect to the use of three inflation benchmarks (the cross-sectional average, the inflation target of the European Central Bank, and the Maastricht inflation criterion), structural breaks, and a core inflation measure. Our main findings imply that further enlargement of the euro area is feasible from the perspective of inflation convergence among EU countries.
Czech name
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Czech description
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Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50201 - Economic Theory

Publication year
2018
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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