04015oam 22010334 450 991078869980332120230828235657.01-4623-6695-31-4527-0877-01-283-51669-197866138291461-4519-0920-9(CKB)3360000000443840(EBL)3014486(SSID)ssj0000939909(PQKBManifestationID)11489726(PQKBTitleCode)TC0000939909(PQKBWorkID)10946528(PQKB)10430907(OCoLC)694141167(MiAaPQ)EBC3014486(IMF)WPIEE2006154(EXLCZ)99336000000044384020020129d2006 uf 0engur|n|---|||||txtccrThe Maastricht Inflation Criterion : How Unpleasant Is Purgatory? /Ales Bulir, Jaromír HurníkWashington, D.C. :International Monetary Fund,2006.1 online resource (43 p.)IMF Working Papers"June 2006."1-4518-6414-0 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. INFLATION IN THE EUROPEAN UNION""; ""III. HOW COSTLY CAN DISINFLATION BE AND WHY?""; ""IV. POLICY IMPLICATIONS""; ""V. CONCLUSIONS""; ""References""The Maastricht inflation criterion, designed in the early 1990s to bring "high-inflation" EU countries in line with "low-inflation" countries prior to the introduction of the euro, poses challenges for both new EU member countries and the European Central Bank. While the criterion has positively influenced the public stance toward low inflation, it has biased the choice of the disinflation strategy toward short-run, fiat measures-rather than adopting structural reforms with longer-term benefits-with unpleasant consequences for the efficiency of the eurozone transmission mechanism. The criterion is also unnecessarily tight for new member countries as it mainly reflects cyclical developments.IMF Working Papers; Working Paper ;No. 2006/154Deflation (Finance)European Union countriesInflation (Finance)European Union countriesForeign ExchangeimfInflationimfMacroeconomicsimfProduction and Operations ManagementimfPrice LevelimfDeflationimfMacroeconomics: ProductionimfInstitutions and the MacroeconomyimfCurrencyimfForeign exchangeimfDisinflationimfOutput gapimfExchange ratesimfStructural reformsimfPricesimfProductionimfEconomic theoryimfEuropean Union countriesEconomic conditionsEuropean Union countriesEconomic policyHungaryimfDeflation (Finance)Inflation (Finance)Foreign ExchangeInflationMacroeconomicsProduction and Operations ManagementPrice LevelDeflationMacroeconomics: ProductionInstitutions and the MacroeconomyCurrencyForeign exchangeDisinflationOutput gapExchange ratesStructural reformsPricesProductionEconomic theoryBulir Ales862712Hurník Jaromír1464143IMF Institute.International Monetary Fund.DcWaIMFBOOK9910788699803321The Maastricht Inflation Criterion3673706UNINA