Unraveling the Dynamics of Inflation Persistence: A Long-Memory Analysis of Headline Inflation Convergence and Divergence in European Economies

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F23%3A63567898" target="_blank" >RIV/70883521:28120/23:63567898 - isvavai.cz</a>

Výsledek na webu

<a href="https://ce.vizja.pl/en/download-pdf/volume/17/issue/4/id/728" target="_blank" >https://ce.vizja.pl/en/download-pdf/volume/17/issue/4/id/728</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.5709/ce.1897-9254.519" target="_blank" >10.5709/ce.1897-9254.519</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Unraveling the Dynamics of Inflation Persistence: A Long-Memory Analysis of Headline Inflation Convergence and Divergence in European Economies

Popis výsledku v původním jazyce

This comprehensive study delves into the Harmonised Consumer Price Index (HCPI) behavior across European economies from the early 2000s to the post-pandemic period. By analyzing the patterns of convergence and divergence in HCPI persistence, the study aims to uncover the common external and country-specific factors driving these dynamics. Utilizing the local Whittle estimation method, the research examines the long memory properties of headline inflation through monthly data from January 1996 to January 2023. The study expands upon existing knowledge of inflation persistence by exploring its changes and the various patterns of inflation persistence in Europe. The findings reveal significant differences in the persistence of inflation and the underlying factors behind it. As such, the study emphasizes the need for tailored policy approaches and a deeper understanding of inflation&apos;s true nature, expectation formation, price-setting behavior, and monetary policy in shaping inflation persistence. Given its important policy implications, this research is highly relevant to the European Central Bank (ECB) and national governments within the Eurozone.

Název v anglickém jazyce

Unraveling the Dynamics of Inflation Persistence: A Long-Memory Analysis of Headline Inflation Convergence and Divergence in European Economies

Popis výsledku anglicky

This comprehensive study delves into the Harmonised Consumer Price Index (HCPI) behavior across European economies from the early 2000s to the post-pandemic period. By analyzing the patterns of convergence and divergence in HCPI persistence, the study aims to uncover the common external and country-specific factors driving these dynamics. Utilizing the local Whittle estimation method, the research examines the long memory properties of headline inflation through monthly data from January 1996 to January 2023. The study expands upon existing knowledge of inflation persistence by exploring its changes and the various patterns of inflation persistence in Europe. The findings reveal significant differences in the persistence of inflation and the underlying factors behind it. As such, the study emphasizes the need for tailored policy approaches and a deeper understanding of inflation&apos;s true nature, expectation formation, price-setting behavior, and monetary policy in shaping inflation persistence. Given its important policy implications, this research is highly relevant to the European Central Bank (ECB) and national governments within the Eurozone.

Druh

J_SC - Článek v periodiku v databázi SCOPUS

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2023

Kód důvěrnosti údajů

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

Název periodika

Contemporary Economics

ISSN

2084-0845

e-ISSN

2300-8814

Svazek periodika

17

Číslo periodika v rámci svazku

4

Stát vydavatele periodika

PL - Polská republika

Počet stran výsledku

18

Strana od-do

406-423

Kód UT WoS článku

001130462800006

EID výsledku v databázi Scopus

2-s2.0-85180455039