EURO AREA INFLATION AND ECB POLICY IN A GLOBAL ENVIRONMENT
| Affiliation auteurs | !!!! Error affiliation !!!! |
| Titre | EURO AREA INFLATION AND ECB POLICY IN A GLOBAL ENVIRONMENT |
| Type de publication | Journal Article |
| Year of Publication | 2016 |
| Auteurs | Blot C, Creel J, Hubert P, Labondance F, Ragot X |
| Journal | POLITICA ECONOMICA |
| Volume | 32 |
| Pagination | 538-552 |
| Date Published | DEC |
| Type of Article | Article |
| ISSN | 1120-9496 |
| Mots-clés | domestic inflation, euro area, global factors, Inflation, principal component analysis |
| Résumé | This paper contributes to the literature investigating the role of global factors in determining Euro area inflation, using a wide list of potential candidates to measure global factors. We show that roughly 50 percent of inflation is explained by global factors; and that the ECB has an impact on the domestic part of inflation. This calls for adjusting the definition of the ECB target to the domestic-driven indicator of inflation which we develop. |
| DOI | 10.1429/85010 |