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


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dc.creator Caraballo, M. Ángeles es
dc.creator Efthimiadis,Tilemahos es 2018-04-05T11:41:47Z 2018-04-05T11:41:47Z 2012
dc.identifier.citation 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.
dc.identifier.issn 1612-4804 (Print) es
dc.identifier.issn 1612-4812 (Online) es
dc.description.abstract 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. es
dc.description.sponsorship Junta de Andalucía SEJ-4546 es
dc.format application/pdf es
dc.language.iso eng es
dc.publisher Springer Verlag es
dc.relation.ispartof International Economics and Economic Policy, 9 (3-4), 235-243.
dc.rights.uri *
dc.subject Monetary policy es
dc.subject Relative price variability es
dc.subject Inflation es
dc.subject ECB es
dc.title Is 2% the optimal inflation rate for the Euro Area? es
dc.type info:eu-repo/semantics/article es
dc.type.version info:eu-repo/semantics/acceptedVersion es
dc.rights.accessrights info:eu-repo/semantics/openAccess es
dc.contributor.affiliation Universidad de Sevilla. Departamento de Economía e Historia Económica es
dc.relation.projectID SEJ-4546 es
dc.relation.publisherversion es
dc.identifier.doi 10.1007/s10368-012-0212-9 es
idus.format.extent 9 es
dc.journaltitle International Economics and Economic Policy es
dc.publication.volumen 9 es
dc.publication.issue 3-4 es
dc.publication.initialPage 235 es
dc.publication.endPage 243 es
dc.identifier.sisius 20578501 es
dc.contributor.funder Junta de Andalucía
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