The Maastricht inflation criterion : how unpleasant is purgatory? / / Ales Bulir and Jaromir Hurnik

• Autore: Bulir Ales
• Pubblicazione: Washington, D.C., : International Monetary Fund, IMF Institute, c2006
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (43 p.)
• Soggetto topico: Deflation (Finance) - European Union countries; Inflation (Finance) - European Union countries
• Soggetto geografico: European Union countries Economic conditions; European Union countries Economic policy
• Altri autori: HurnikJaromir
• Note generali: "June 2006."
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: ""Contents""; ""I. INTRODUCTION""; ""II. INFLATION IN THE EUROPEAN UNION""; ""III. HOW COSTLY CAN DISINFLATION BE AND WHY?""; ""IV. POLICY IMPLICATIONS""; ""V. CONCLUSIONS""; ""References""
• Sommario/riassunto: 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.
• Titolo autorizzato: The Maastricht Inflation Criterion
• ISBN: 1-4623-6695-3; 1-4527-0877-0; 1-283-51669-1; 9786613829146; 1-4519-0920-9
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910826088403321
• Lo trovi qui: Univ. Federico II
• Serie: IMF working paper ; ; WP/06/154.