Dynamics and factors of inflation convergence in the European union

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

Dynamics and factors of inflation convergence in the European union

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Dynamics and factors of inflation convergence in the European union

Popis výsledku anglicky

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.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2018

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Journal of International Money and Finance

ISSN

0261-5606

e-ISSN

—

Svazek periodika

86

Číslo periodika v rámci svazku

September

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

19

Strana od-do

93-111

Kód UT WoS článku

000434095400005

EID výsledku v databázi Scopus

2-s2.0-85046769426