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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/17905| Title: | The link of the monetary indicator to future inflation in the Euro Area - a simulation experiment |
| Keywords: | E51 E52 ddc:330 Monetary Targeting Inflation Targeting Euro Area Monetärer Indikator Inflation Prognoseverfahren Preisniveau Europäische Wirtschafts- und Währungsunion Simulation Theorie EU-Staaten |
| Issue Date: | 16-Oct-2013 |
| Publisher: | Kiel Institute for the World Economy (IfW) Kiel |
| Description: | We examine the indicator property of the monetary indicator for inflation. Using a P*-model, Svensson shows theoretically in a recent paper that the relationship between these two variables is rather tenuous. The present study employs empirical evidence on the relations in his model to quantify its dynamics for the euro area. Moreover, we extend Svensson?s analysis by considering different shocks and monetary regimes. It becomes apparent that the system exhibits complicated dynamics and that for most shocks and policy regimes the monetary indicator is not a leading indicator of dangers to price stability in the medium term. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/17905 |
| Other Identifiers: | http://hdl.handle.net/10419/17905 ppn:332494306 |
| Appears in Collections: | EconStor |
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