Arbeitspapier
High versus Low Inflation: Implications for Price-Level Convergence
This paper investigates the relationship between the level of inflation and regional price-level convergence utilizing micro-level price data from Turkey during two clearly distinguishable periods of high and low inflation. The results indicate that higher persistence and slower convergence of price levels are evident during the low-inflation period, which corresponds to the inflation targeting (IT) regime. During the low-inflation IT regime, inflation convergence across regions appears to occur more quickly and may be responsible for the slower pace of convergence in price levels. Overall, IT in Turkey, which was successful in lowering and maintaining inflation at acceptable levels, also appears to be associated with faster convergence in inflation rates at the expense of slower convergence in price levels.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 1412
- Klassifikation
-
Wirtschaft
Price Level; Inflation; Deflation
Open Economy Macroeconomics
- Thema
-
Price Convergence
Inflation Convergence
Micro-level Prices
Turkey
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Yazgan, M. Ege
Yilmazkuday, Hakan
- Ereignis
-
Veröffentlichung
- (wer)
-
Koç University-TÜSİAD Economic Research Forum (ERF)
- (wo)
-
Istanbul
- (wann)
-
2014
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Yazgan, M. Ege
- Yilmazkuday, Hakan
- Koç University-TÜSİAD Economic Research Forum (ERF)
Entstanden
- 2014
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