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| Title: | | Nonmonetary Determinants of Inflation in Romania: A Decomposition  |
| 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: | | Publikationen von Forscherinnen und Forschern des IfW Kieler Arbeitspapiere, IfW
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