Repositorio de producción científica de la Universidad de Sevilla

Is 2% the optimal inflation rate for the Euro Area?

 

Búsqueda avanzada
 
Opened Access Is 2% the optimal inflation rate for the Euro Area?
Citas

Estadísticas
Icon
Exportar a
Autor: Caraballo, M. Ángeles
Efthimiadis,Tilemahos
Departamento: Universidad de Sevilla. Departamento de Economía e Historia Económica
Fecha: 2012
Publicado en: International Economics and Economic Policy, 9 (3-4), 235-243.
Tipo de documento: Artículo
Resumen: According to the relevant literatu re, monetary policy implications concerning the optimal inflation rate can be derived by examining the relationship between inflation and the Relative Price Variability (RPV). This paper studies this issue for selected Euro Area (EA) countries, using monthly data for the Harmonized Index of Consumer Prices. In particular, semi-parametric estimations are employed so as to find the accurate form of the inflation-RPV relationship. The results indicate that this relationship exhibits a U-shape functional profile. Furthermore, the optimal inflation rates for the EA, France, Germany and Spain are also calculated. For all countries and the EA, we find that although the European Central Bank ’ s “ below but close to 2 % ” inflation target is optimal for the EA average, it is not the optimum inflation rate for the individual counties.
Cita: Caraballo, M.Á. y Efthimiadis, i. (2012). Is 2% the optimal inflation rate for the Euro Area?. International Economics and Economic Policy, 9 (3-4), 235-243.
Tamaño: 348.1Kb
Formato: PDF

URI: https://hdl.handle.net/11441/71969

DOI: 10.1007/s10368-012-0212-9

Ver versión del editor

Salvo que se indique lo contrario, los contenidos de esta obra estan sujetos a la licencia de Creative Commons: 

Este registro aparece en las siguientes colecciones