Artikel
Determinants of inflation in Europe: A dynamic panel analysis
This article offers an empirical analysis of determinants of inflation in 28 European economies that belonged to the transition group of countries in the end of the last century. We rely on dynamic panel methodology and find that economic and structural variables, including economic openness, unemployment, real wages, institutional effects, as well as external factors, such as prices of food and oil, determine the short-run inflationary dynamics in these countries. The obtained results also indicate that inflation rate is autoregressive in the observed period (2005-2015), confirming that contemporaneous inflation rate is determined by the entire history of these determinants. Our further investigation reveals long- term effects of the majority of these variables on price dynamics. Interestingly, distinction between the current EU and transition countries in the model does not lead to different conclusions.
- Sprache
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Englisch
- Erschienen in
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Journal: Financial Internet Quarterly ; ISSN: 2719-3454 ; Volume: 16 ; Year: 2020 ; Issue: 3 ; Pages: 51-79 ; Warsaw: Sciendo
- Klassifikation
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Wirtschaft
Price Level; Inflation; Deflation
Monetary Policy, Central Banking, and the Supply of Money and Credit: General
- Thema
-
determinants of inflation
transition countries
dynamic panel model
- Ereignis
-
Geistige Schöpfung
- (wer)
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Čaklovica, Lejla
Efendic, Adnan S.
- Ereignis
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Veröffentlichung
- (wer)
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Sciendo
- (wo)
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Warsaw
- (wann)
-
2020
- DOI
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doi:10.2478/fiqf-2020-0018
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Čaklovica, Lejla
- Efendic, Adnan S.
- Sciendo
Entstanden
- 2020
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