Inflation convergence: Cefta and European union - panel method estimation
نویسندگان
چکیده
منابع مشابه
Inflation Convergence Within the European Union: A Panel Data Analysis
This paper investigates the question of whether there exists evidence in support of inflation convergence within the European Union. The analysis also focuses on whether the Exchange Rate Mechanism (ERM) helped to accelerate inflation convergence in its member countries. The results of this paper are supportive of convergence. The countries which continuously participated in the narrow ERM band...
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Using a GARCH model we provide evidence that higher inflation uncertainty leads to higher inflation in the new European Union (EU) member states and candidate countries only prior to EU accession. During EU accession and entry inflation uncertainty has no effect on mean inflation. This result supports the consideration of policy regime shifts in assessing the nominal uncertainty-average inflati...
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Cross sectional estimation of convergence regressions is known to be hazardous if there is convergence towards heterogeneous steady state values. In this paper, Monte Carlo methods are used to investigate the implications of this parameter heterogeneity problem. The cross sectional and pooled OLS estimators are compared with a panel estimator which is unaffected by heterogeneity. If there is he...
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ژورنال
عنوان ژورنال: Politická ekonomie
سال: 2003
ISSN: 0032-3233,2336-8225
DOI: 10.18267/j.polek.400