Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/19641 
Erscheinungsjahr: 
2006
Schriftenreihe/Nr.: 
Discussion Paper Series 1 No. 2006,14
Verlag: 
Deutsche Bundesbank, Frankfurt a. M.
Zusammenfassung: 
In recent macroeconomic theory, relative price variability (RPV) generates the central distortions of inflation. This paper provides first evidence on the empirical relation between inflation and RPV in the euro area focusing on threshold effects of inflation. We find that expected inflation significantly increases RPV if inflation is either very low (below -1.38% p.a.) or very high (above 5.94% p.a.). In the intermediate regime, however, expected inflation has no distorting effects which supports price stability as an outcome of optimal monetary policy.
Schlagwörter: 
Inflation
Relative Price Variability
Panel Threshold Models
JEL: 
C23
E31
Dokumentart: 
Working Paper

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