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Record Nr. |
UNINA9910788339603321 |
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Autore |
Stavrev Emil |
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Titolo |
Forces Driving Inflation in the New EU10 Members / / Emil Stavrev |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2009 |
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ISBN |
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1-4623-9815-4 |
1-4527-8841-3 |
1-4518-7199-6 |
9786612842733 |
1-282-84273-0 |
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Descrizione fisica |
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1 online resource (18 p.) |
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Collana |
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Soggetti |
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Inflation (Finance) - Europe, Eastern |
Fiscal policy - Europe, Eastern |
Banks and Banking |
Foreign Exchange |
Inflation |
Macroeconomics |
Estimation |
Multiple or Simultaneous Equation Models: Models with Panel Data |
Price Level |
Deflation |
Economic Integration |
Energy: Demand and Supply |
Prices |
Interest Rates: Determination, Term Structure, and Effects |
Currency |
Foreign exchange |
Finance |
Nominal effective exchange rate |
Energy prices |
Exchange rate arrangements |
Real interest rates |
Financial services |
Interest rates |
Czech Republic |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Contents; I. Introduction; II. Related Literature; III. Inflation Dynamics in MNS: Background; Tables; 1. NMS and Euro Area: Energy and Food Intensity; Figures; 1. Euro Area: Contribution of Energy and Food to Headline Inflation; 2. NMS: Contribution of Energy and Food to Headline Inflation; IV. Methods and Data; A. Generalized Dynamic Factor Model; 3. NMS: Price level, Inflation, and Exchange Rate Regime; B. Modeling Common and Country-specific Components; C. Data Description; V. Discussion of the Results; A. GDFM Results; 4. Cumulative Share of Data Variance Explained by Common Factors |
5. NMS: Headline and One Common Factor InflationB. Determinants of Common and Country-specific Inflation; 2. NMS: Determinants of Common Component; VI. Concluding Remarks; 3. NMS: Determinants of Country-specific Component; References |
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Sommario/riassunto |
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The paper analyzes the forces driving inflation in the new EU10 member countries. A significant part of headline inflation in these countries is due to common factors, such as price level convergence and EU integration. However, idiosyncratic factors have also played a role in the inflation process. These factors are related to the country-specific financial conditions, pass-through from foreign prices, and demand-supply situation in each country, although administered price adjustments and increases of indirect taxes associated with EU accession are also likely to have played a role. |
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