Euro area inflation: aggregation bias and convergence
Abstract: Monetary policy of the European Monetary Union targets aggregate euro area inflation. Concerns are growing that a focus on aggregate inflation may cause national inflation rates to diverge. While different explanations for diverging aggregate euro area inflation have been brought forward, the very impact of aggregation on divergence has, however, not been studied. We find a striking difference in convergence depending on the level of aggregation. While aggregate national inflation rates are diverging, disaggregate inflation rates are converging. We find that aggregation appears to bias evidence towards non-convergence. Our results are consistent with prominent theoretical and empirical evidence on aggregation bias
- Standort
-
Deutsche Nationalbibliothek Frankfurt am Main
- Umfang
-
Online-Ressource
- Sprache
-
Englisch
- Anmerkungen
-
Postprint
begutachtet (peer reviewed)
In: Review of World Economics ; 146 (2010) 2 ; 339-357
- Klassifikation
-
Wirtschaft
- DOI
-
10.1007/s10290-010-0053-y
- URN
-
urn:nbn:de:0168-ssoar-243270
- Rechteinformation
-
Open Access unbekannt; Open Access; Der Zugriff auf das Objekt ist unbeschränkt möglich.
- Letzte Aktualisierung
-
25.03.2025, 13:51 MEZ
Datenpartner
Deutsche Nationalbibliothek. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Beteiligte
Entstanden
- 2010
Ähnliche Objekte (12)
Euro area inflation: aggregation bias and convergence
Inflation convergence after the introduction of the Euro
Inflation convergence after the introduction of the Euro
The euro and prices: Changeover-related inflation and price convergence in the euro area
Inflation asymmetry, menu costs and aggregation bias - A further case for state dependent pricing
Inflation Bias after the Euro: Evidence from the UK and Italy
Inflation Bias after the Euro: Evidence from the UK and Italy
The tragedy of the commons and inflation bias in the euro area
The tragedy of the commons and inflation bias in the euro area
Regional inflation convergence in Turkey
Partisan bias in inflation expectations
Partisan Bias in Inflation Expectations
Euro area inflation: aggregation bias and convergence
Inflation convergence after the introduction of the Euro
Inflation convergence after the introduction of the Euro
The euro and prices: Changeover-related inflation and price convergence in the euro area
Inflation asymmetry, menu costs and aggregation bias - A further case for state dependent pricing
Inflation Bias after the Euro: Evidence from the UK and Italy
Inflation Bias after the Euro: Evidence from the UK and Italy
The tragedy of the commons and inflation bias in the euro area
The tragedy of the commons and inflation bias in the euro area
Regional inflation convergence in Turkey
Partisan bias in inflation expectations
Partisan Bias in Inflation Expectations
Euro area inflation: aggregation bias and convergence
Inflation convergence after the introduction of the Euro
Inflation convergence after the introduction of the Euro
The euro and prices: Changeover-related inflation and price convergence in the euro area
Inflation asymmetry, menu costs and aggregation bias - A further case for state dependent pricing
Inflation Bias after the Euro: Evidence from the UK and Italy
Inflation Bias after the Euro: Evidence from the UK and Italy
The tragedy of the commons and inflation bias in the euro area
The tragedy of the commons and inflation bias in the euro area
Regional inflation convergence in Turkey
Partisan bias in inflation expectations