Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/17843
Authors: 
Hammermann, Felix
Year of Publication: 
2007
Series/Report no.: 
Kiel Working Paper 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

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