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http://hdl.handle.net/10419/19641
  

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dc.contributor.authorScharff, Julianeen_US
dc.contributor.authorNautz, Dieteren_US
dc.date.accessioned2009-01-28T16:01:40Z-
dc.date.available2009-01-28T16:01:40Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/19641-
dc.description.abstractIn 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.en_US
dc.language.isoengen_US
dc.relation.ispartofseriesDiscussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2006,14en_US
dc.subject.jelC23en_US
dc.subject.jelE31en_US
dc.subject.ddc330en_US
dc.subject.keywordInflationen_US
dc.subject.keywordRelative Price Variabilityen_US
dc.subject.keywordPanel Threshold Modelsen_US
dc.subject.stwInflationen_US
dc.subject.stwRelativer Preisen_US
dc.subject.stwSoziale Kostenen_US
dc.subject.stwSch├Ątzungen_US
dc.subject.stwDeutschlanden_US
dc.titleInflation and relative price variability in the euro area: evidence from a panel threshold modelen_US
dc.typeWorking Paperen_US
dc.identifier.ppn510394256en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:bubdp1:4250-
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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