Inflationsdifferenzen im Euroraum - Zur Rolle des Balassa-Samuelson-Effeks
In: List Forum Band 32
The convergence of the rates of inflation, achieved during the period of qualification for the 3rd stage of the Economic and Monetary Union (EMU) has most likely come to an end or, even more, seems to be reversing since the common monetary area had been established. The infation rates of single economies within the Euro area deviate significantly from the ECB's reference rate, therefore, considerable inflation rate differentials can be observed in the EMU. Our paper analyses this divergence by applying the Balassa - Samuelson approach. In this framework inflation rate differentials between countires primarily depend on both diverging price level developments in the tradable good's sector and variations in the intrasectoral differentials of productivity growth. We focus on testing the empirical evidence of the Balassa - Samuelson approach for the Euro area.(Original text only available in german language)
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