Arbeitspapier
Real convergence, price level convergence and inflation in Europe
This paper provides a comprehensive review of the factors that can cause price levels to diverge and which are at the root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors influencing market and nonmarket-based service, house and goods prices, and we summarise some stylised facts emerging from descriptive statistics. Subsequently, we set out the possible mismatches between price level convergence and inflation rates. Having described in detail the underlying economic factors, we proceed to demonstrate the relative importance of these factors on observed inflation rates first in an accounting framework and then by relying on panel estimations.
- Language
-
Englisch
- Bibliographic citation
-
Series: Bruegel Working Paper ; No. 2007/02
- Classification
-
Wirtschaft
Interest Rates: Determination, Term Structure, and Effects
Monetary Policy, Central Banking, and the Supply of Money and Credit: General
Monetary Policy
Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Economywide Country Studies: Europe
- Subject
-
price level
inflation
Balassa-Samuelson
tradables
house prices
regulated prices
Europe
transition
Preisniveau
Inflation
Balassa-Samuelson Effekt
EU-Staaten
- Event
-
Geistige Schöpfung
- (who)
-
Égert, Balázs
- Event
-
Veröffentlichung
- (who)
-
Bruegel
- (where)
-
Brussels
- (when)
-
2007
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Égert, Balázs
- Bruegel
Time of origin
- 2007
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