04234oam 22011294 450 991095902290332120250426110502.0978661382914697814623669581462366953978145270877514527087709781283516693128351669197814519092031451909209(CKB)3360000000443840(EBL)3014486(SSID)ssj0000939909(PQKBManifestationID)11489726(PQKBTitleCode)TC0000939909(PQKBWorkID)10946528(PQKB)10430907(OCoLC)694141167(IMF)WPIEE2006154(MiAaPQ)EBC3014486(IMF)WPIEA2006154WPIEA2006154(EXLCZ)99336000000044384020020129d2006 uf 0engur|n|---|||||txtccrThe Maastricht Inflation Criterion : How Unpleasant Is Purgatory? /Ales Bulir, Jaromír Hurník1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (43 p.)IMF Working Papers"June 2006."9781451864144 1451864140 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 countriesCurrencyimfDeflationimfDisinflationimfEconomic theoryimfExchange ratesimfForeign ExchangeimfForeign exchangeimfInflationimfInstitutions and the MacroeconomyimfMacroeconomicsimfMacroeconomics: ProductionimfOutput gapimfPrice LevelimfPricesimfProduction and Operations ManagementimfProductionimfStructural reformsimfEuropean Union countriesEconomic conditionsEuropean Union countriesEconomic policyHungaryimfDeflation (Finance)Inflation (Finance)CurrencyDeflationDisinflationEconomic theoryExchange ratesForeign ExchangeForeign exchangeInflationInstitutions and the MacroeconomyMacroeconomicsMacroeconomics: ProductionOutput gapPrice LevelPricesProduction and Operations ManagementProductionStructural reformsBulir Ales862712Hurník Jaromír1816215IMF Institute.International Monetary Fund.DcWaIMFBOOK9910959022903321The Maastricht Inflation Criterion4372012UNINA