This paper analyses the degree of inflation persistence in the EU15, the euro area and each of its member states using disaggregate price indices from the Harmonised Index of Consumer Prices. Our results reveal substantial heterogeneity across countries and indices. The overall results, based on...

This paper analyses the degree of inflation persistence in the EU15, the euro area and each of its member states using disaggregate price indices from the Harmonised Index of Consumer Prices. Our results reveal substantial heterogeneity across countries and indices. The overall results, based on...

In this paper, we show a simple correction for the aggregation effect when testing the relationship between income inequality and life expectancy using aggregated data. While there is evidence for a negative correlation between income inequality and a population’s average life expectancy, it...

The purpose of this article is to assess and explain the international role of the euro. Since 1999, the euro has become the second international reserve currency (well behind the dollar), but its record varies according to the function which is fulfilled. The article focuses on currency...

In this paper, we propose an econometric model that presents three advantages in relation to the Basu model: (1) it is robust to the aggregation problem; that is, we prove that the Basu model produces inconsistent estimations of conditional conservatism and that this problem is solved with our...

The purpose of this article is to assess and explain the international role of the euro. Since 1999, the euro has become the second international reserve currency (well behind the dollar), but its record varies according to the function which is fulfilled. The article focuses on currency...