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Persistent link: https://www.econbiz.de/10003571988
This paper decomposes the time-varying effect of exogenous exchange rate shocks on euro area countries in ation into … quarters of the past six years, especially in turning point periods. Our main results indicate that headline in ation in euro … across euro area countries. …
Persistent link: https://www.econbiz.de/10012181317
This paper decomposes the time-varying effect of exogenous exchange rate shocks on euro area countries inflation into … over the past six years – especially in turning points periods. Our main results indicate that headline inflation in euro … to the euro/USD account for over 50% of the nominal euro/USD exchange rate fluctuations in more than 1/3 of the quarters …
Persistent link: https://www.econbiz.de/10012861123
This paper decomposes the time-varying effect of exogenous exchange rate shocks on euro area countries inflation into … quarters of the past six years, especially in turning point periods. Our main results indicate that headline inflation in euro … inflation this increasing sensitivity is solely reliant on a sustained surge in the degree of comovement, for energy inflation …
Persistent link: https://www.econbiz.de/10012838756
Persistent link: https://www.econbiz.de/10013352658
in the Euro Area. In both cases, using higher-moment restrictions significantly sharpens identification. After a shock to …, the real economy and the labor market of the Euro Area contract appreciably, returns on German government bonds fall …
Persistent link: https://www.econbiz.de/10014335939
Persistent link: https://www.econbiz.de/10013543004
Persistent link: https://www.econbiz.de/10012511223
We document the importance of import prices and domestic profits as a counterpart to the recent increase in euro area … inflation. Through a novel consumption deflator decomposition, we show that import prices account for 40 percent of the average … convergence of inflation to target over the next two years. Monetary policy will thus need to remain restrictive to anchor …
Persistent link: https://www.econbiz.de/10014353730
pragmatic question in this context is: Did delegating monetary policy to the ECB increase stress in the individual euro area … countries? An SVAR analysis reveals that monetary stress has declined more in the euro area than in the euro areas’ doppelganger … euro becoming a dominant currency. …
Persistent link: https://www.econbiz.de/10012301359