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Title:Nonmonetary Determinants of Inflation in Romania: A Decomposition PDF Logo
Authors:Hammermann, Felix
Issue Date:2007
Series/Report no.:Kieler Arbeitspapiere 1322
Abstract:Why is inflation, 15 years after transition started, still considerably higher in Romania than in the eight EU member states (EU-8) that joined in May 2004? Panel estimation based on ten central and eastern European countries allows us to decompose the inflation differential between Romania and the EU-8. The decomposition suggests that neither the revenue, nor the balance of payments, nor the financial stability motive are driving inflation; rather structural differences are at play. The employment motive, together with indicators reflecting the prolonged structural change, explain most of the inflation gap vis-?-vis the EU-8.
Subjects:inflation
panel data
transition economics
JEL:E58
Document Type:Working Paper
Appears in Collections:Kieler Arbeitspapiere, IfW
Publikationen von Forscherinnen und Forschern des IfW

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