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dc.contributor.authorScheide, Joachimen_US
dc.contributor.authorTrabandt, Mathiasen_US
dc.date.accessioned2009-01-28T14:14:10Z-
dc.date.available2009-01-28T14:14:10Z-
dc.date.issued2000en_US
dc.identifier.urihttp://hdl.handle.net/10419/2532-
dc.description.abstractInflation is a monetary phenomenon. While this statement is widely accepted in terms of a long-run relationship, the quantity theory has been made operational also for the short-run dynamics of inflation by so-called Pstar models. An error correction model with quarterly data for the Euro Area is estimated to test whether the price gap has an impact on consumer price inflation. The response of the HICP is strongly positive. Other factors such as raw material prices and unit labor costs also have some explanatory power. The model is used for shock analysis and out-of-sample forecasts. All in all, the Pstar model can be a useful tool for predicting inflation also in Euroland.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesKiel Working Papers 1019-
dc.subject.jelE31en_US
dc.subject.jelC53en_US
dc.subject.jelC22en_US
dc.subject.ddc330-
dc.subject.keywordinflation processen_US
dc.subject.keywordforecasting-
dc.subject.keyworderror correction models-
dc.subject.stwInflationen_US
dc.subject.stwPrognoseverfahrenen_US
dc.subject.stwQuantitätstheorieen_US
dc.subject.stwP-Staren_US
dc.subject.stwSchätzungen_US
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen_US
dc.subject.stwEU-Staatenen_US
dc.titlePredicting inflation in Euroland : the Pstar approachen_US
dc.typeWorking Paperen_US
dc.identifier.ppn324653719en_US
dc.identifier.ppn324653719en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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