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Beyond the Salassa-Samuelson Effect in Some New Member States of the European Union
García-Solanes, José - 2013
(NMS) and six advanced EU-15 economies. It is found that the second stage of the hypothesis, which relates relative sector … tradable goods. In the EU-15, the explanatory factor is segmentation between national markets of tradables, caused by …
Persistent link: https://www.econbiz.de/10012754035
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Catching-Up, Inflation Differentials and Credit Booms in a Heterogeneous Monetary Union : Some Implications for Emu and New EU Member States
MacDonald, Ronald - 2013
In this paper we propose an alternative explanation for the nature, sources and consequences of inflation rate differentials in a monetary union, such as EMU. To achieve this, we build on the new neoclassical synthesis (NNS) framework, recently advanced by Goodfriend (2002) and Goodfriend and...
Persistent link: https://www.econbiz.de/10012754168