Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/226285
Authors: 
Israel, Karl-Friedrich
Schnabl, Gunther
Year of Publication: 
2020
Series/Report no.: 
CESifo Working Paper No. 8583
Abstract: 
Since the 1980s inflationary pressures seem to materialize overproportionately outside of the sectors of consumer goods and services. We combine the Harmonized Index of Consumer Prices with indices for asset prices, such as stocks and real estate, as well as the costs of public goods to develop alternative inflation measures in Germany since the introduction of the euro. Real economic growth as well as median wage developments are reexamined in light of the alternative inflation estimates. Both turn out to be negative over the past decade in the most pessimistic scenarios.
Subjects: 
inflation
harmonized index of consumer prices
hidden inflation
assets prices
costs of public goods
inflation targeting
monetary policy
real wages
real economic growth
Germany
JEL: 
E31
E52
E58
O11
Document Type: 
Working Paper

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