Euro area inflation in the era of COVID‐19: A permanent or a transitory phenomenon?
Author
Abstract
Suggested Citation
DOI: 10.1111/manc.12470
Download full text from publisher
References listed on IDEAS
- Jesús Clemente & María Dolores Gadea & Antonio Montañés & Marcelo Reyes, 2017.
"Structural Breaks, Inflation and Interest Rates: Evidence from the G7 Countries,"
Econometrics, MDPI, vol. 5(1), pages 1-17, February.
- Jesus Clemente & Antonio Montañes & Marcelo Reyes, 2004. "Structural Breaks, Inflation and Interest Rates: Evidence for the G7 countries," Econometrics 0401005, University Library of Munich, Germany.
- Lilas Demmou & Sara Calligaris & Guido Franco & Dennis Dlugosch & Müge Adalet McGowan & Sahra Sakha, 2021. "Insolvency and debt overhang following the COVID-19 outbreak: Assessment of risks and policy responses," OECD Economics Department Working Papers 1651, OECD Publishing.
- Dimitris Papanikolaou & Lawrence D W Schmidt, 2022.
"Working Remotely and the Supply-Side Impact of COVID-19 [The unprecedented stock market reaction to COVID-19],"
The Review of Asset Pricing Studies, Society for Financial Studies, vol. 12(1), pages 53-111.
- Dimitris Papanikolaou & Lawrence D.W. Schmidt, 2020. "Working Remotely and the Supply-side Impact of Covid-19," NBER Working Papers 27330, National Bureau of Economic Research, Inc.
- Winkelried, Diego, 2018.
"Unit roots, flexible trends, and the Prebisch-Singer hypothesis,"
Journal of Development Economics, Elsevier, vol. 132(C), pages 1-17.
- Winkelried, Diego, 2015. "Unit Roots, Flexible Trends and the Prebisch-Singer Hypothesis," Working Papers 2015-007, Banco Central de Reserva del Perú.
- Luis Alberiko Gil‐Alana & Rangan Gupta, 2019.
"Persistence, Mean Reversion and Nonlinearities in Inflation Rates of Developed and Developing Countries Using Over One Century of Data,"
Manchester School, University of Manchester, vol. 87(1), pages 24-36, January.
- Luis A. Gil-Alana & Rangan Gupta, 2017. "Persistence, Mean Reversion and Nonlinearities in Inflation Rates of Developed and Developing Countries Using Over One Century of Data," Working Papers 201713, University of Pretoria, Department of Economics.
- Bai, Jushan, 1997.
"Estimating Multiple Breaks One at a Time,"
Econometric Theory, Cambridge University Press, vol. 13(3), pages 315-352, June.
- Jushan Bai, 1995. "Estimating Multiple Breaks One at a Time," Working papers 95-18, Massachusetts Institute of Technology (MIT), Department of Economics.
- Perron, Pierre, 1989.
"The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis,"
Econometrica, Econometric Society, vol. 57(6), pages 1361-1401, November.
- Perron, P, 1988. "The Great Crash, The Oil Price Shock And The Unit Root Hypothesis," Papers 338, Princeton, Department of Economics - Econometric Research Program.
- Rubene, Ieva & Koester, Gerrit, 2021. "Recent dynamics in energy inflation: the role of base effects and taxes," Economic Bulletin Boxes, European Central Bank, vol. 3.
- Elliott, Graham & Rothenberg, Thomas J & Stock, James H, 1996.
"Efficient Tests for an Autoregressive Unit Root,"
Econometrica, Econometric Society, vol. 64(4), pages 813-836, July.
- Graham Elliott & Thomas J. Rothenberg & James H. Stock, 1992. "Efficient Tests for an Autoregressive Unit Root," NBER Technical Working Papers 0130, National Bureau of Economic Research, Inc.
- Tom Doan, "undated". "GLSDETREND: RATS procedure to perform local to unity GLS detrending," Statistical Software Components RTS00077, Boston College Department of Economics.
- Tom Doan, "undated". "ERSTEST: RATS procedure to perform Elliott-Rothenberg-Stock unit root tests," Statistical Software Components RTS00066, Boston College Department of Economics.
- Paresh Kumar Narayan & Stephan Popp, 2010.
"A new unit root test with two structural breaks in level and slope at unknown time,"
Journal of Applied Statistics, Taylor & Francis Journals, vol. 37(9), pages 1425-1438.
- Narayan, Paresh & Popp, Stephan, 2009. "A new unit root test with two structural breaks in level and slope at unknown time," Working Papers eco_2009_11, Deakin University, Department of Economics.
- David Baqaee & Emmanuel Farhi, 2022.
"Supply and Demand in Disaggregated Keynesian Economies with an Application to the COVID-19 Crisis,"
American Economic Review, American Economic Association, vol. 112(5), pages 1397-1436, May.
- David Baqaee & Emmanuel Farhi, 2020. "Supply and Demand in Disaggregated Keynesian Economies with an Application to the Covid-19 Crisis," NBER Working Papers 27152, National Bureau of Economic Research, Inc.
- Farhi, Emmanuel & Baqaee, David Rezza, 2020. "Supply and Demand in Disaggregated Keynesian Economies with an Application to the Covid-19 Crisis," CEPR Discussion Papers 14743, C.E.P.R. Discussion Papers.
- Armantier, Olivier & Koşar, Gizem & Pomerantz, Rachel & Skandalis, Daphné & Smith, Kyle & Topa, Giorgio & van der Klaauw, Wilbert, 2021.
"How economic crises affect inflation beliefs: Evidence from the Covid-19 pandemic,"
Journal of Economic Behavior & Organization, Elsevier, vol. 189(C), pages 443-469.
- Olivier Armantier & Gizem Koşar & Rachel Pomerantz & Daphne Skandalis & Kyle Smith & Giorgio Topa & Wilbert Van der Klaauw, 2020. "How Economic Crises Affect Inflation Beliefs: Evidence from the COVID-19 Pandemic," Staff Reports 949, Federal Reserve Bank of New York.
- Oya Celasun & Mr. Niels-Jakob H Hansen & Ms. Aiko Mineshima & Mariano Spector & Jing Zhou, 2022. "Supply Bottlenecks: Where, Why, How Much, and What Next?," IMF Working Papers 2022/031, International Monetary Fund.
- Junsoo Lee & Mark C. Strazicich, 2003. "Minimum Lagrange Multiplier Unit Root Test with Two Structural Breaks," The Review of Economics and Statistics, MIT Press, vol. 85(4), pages 1082-1089, November.
- Faberman, R. Jason & Mueller, Andreas I. & Şahin, Ayşegül, 2022.
"Has the Willingness to Work Fallen during the Covid Pandemic?,"
Labour Economics, Elsevier, vol. 79(C).
- Faberman, R.Jason & Mueller, Andreas I. & Sahin, Aysegul, 2022. "Has the Willingness to Work Fallen during the Covid Pandemic?," CEPR Discussion Papers 17043, C.E.P.R. Discussion Papers.
- R. Jason Faberman & Andreas I. Mueller & Ayşegül Şahin, 2022. "Has the Willingness to Work Fallen during the Covid Pandemic?," NBER Working Papers 29784, National Bureau of Economic Research, Inc.
- Faberman, Jason & Mueller, Andreas I. & Sahin, Aysegül, 2022. "Has the Willingness to Work Fallen during the COVID Pandemic?," IZA Discussion Papers 15086, Institute of Labor Economics (IZA).
- Belkhouja, Mustapha & Mootamri, Imene, 2016. "Long memory and structural change in the G7 inflation dynamics," Economic Modelling, Elsevier, vol. 54(C), pages 450-462.
- Dias, Daniel A. & Marques, Carlos Robalo, 2010.
"Using mean reversion as a measure of persistence,"
Economic Modelling, Elsevier, vol. 27(1), pages 262-273, January.
- Robalo Marques, Carlos & Dias, Daniel, 2005. "Using mean reversion as a measure of persistence," Working Paper Series 450, European Central Bank.
- Daniel Dias, 2005. "Using Mean Reversion as a Measure of Persistence," Working Papers w200503, Banco de Portugal, Economics and Research Department.
- Chen, Shyh-Wei & Hsu, Chi-Sheng, 2016. "Threshold, smooth transition and mean reversion in inflation: New evidence from European countries," Economic Modelling, Elsevier, vol. 53(C), pages 23-36.
- Laurence Ball & Daniel Leigh & Prachi Mishra, 2022. "Understanding US Inflation during the COVID-19 Era," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 53(2 (Fall)), pages 1-80.
- Koester, Gerrit & Rubene, Ieva & Gonçalves, Eduardo & Nordeman, Jakob, 2021. "Recent developments in pipeline pressures for non-energy industrial goods inflation in the euro area," Economic Bulletin Boxes, European Central Bank, vol. 5.
- O’Brien, Derry & Dumoncel, Clémence & Gonçalves, Eduardo, 2021. "The role of demand and supply factors in HICP inflation during the COVID-19 pandemic – a disaggregated perspective," Economic Bulletin Articles, European Central Bank, vol. 1.
- Guglielmo Maria Caporale & Juan Infante & Luis Gil-Alana & Raquel Ayestaran, 2023.
"Inflation persistence in Europe: The effects of the Covid-19 pandemic and of the Russia-Ukraine war,"
Economics Bulletin, AccessEcon, vol. 43(1), pages 137-145.
- Guglielmo Maria Caporale & Juan Infante & Luis A. Gil-Alana & Raquel Ayestaran, 2022. "Inflation Persistence in Europe: The Effects of the Covid-19 Pandemic and of the Russia-Ukraine War," CESifo Working Paper Series 10071, CESifo.
- Bonam, Dennis & Smădu, Andra, 2021. "The long-run effects of pandemics on inflation: Will this time be different?," Economics Letters, Elsevier, vol. 208(C).
- Corvoisier, Sandrine & Mojon, Benoît, 2005. "Breaks in the mean of inflation: how they happen and what to do with them," Working Paper Series 451, European Central Bank.
- García-Cintado, Alejandro & Romero-Ávila, Diego & Usabiaga, Carlos, 2015. "Can the hysteresis hypothesis in Spanish regional unemployment be beaten? New evidence from unit root tests with breaks," Economic Modelling, Elsevier, vol. 47(C), pages 244-252.
- Paresh Kumar Narayan & Stephan Popp, 2013.
"Size and power properties of structural break unit root tests,"
Applied Economics, Taylor & Francis Journals, vol. 45(6), pages 721-728, February.
- Narayan, Paresh Kumar & Popp, Stephan, 2011. "Size and power properties of structural break unit root tests," Working Papers fe_2011_07, Deakin University, Department of Economics.
- Chikako Baba & Mr. Jaewoo Lee, 2022. "Second-Round Effects of Oil Price Shocks -- Implications for Europe’s Inflation Outlook," IMF Working Papers 2022/173, International Monetary Fund.
- Eichenbaum, Martin & Rebelo, Sérgio & Trabandt, Mathias, 2022. "Epidemics in the Neoclassical and New-Keynesian Models," CEPR Discussion Papers 14903, C.E.P.R. Discussion Papers.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Emanuele Russo & Neil Foster-McGregor, 2022. "Characterizing growth instability: new evidence on unit roots and structural breaks in countries’ long run trajectories," Journal of Evolutionary Economics, Springer, vol. 32(2), pages 713-756, April.
- Russo, Emanuele & Foster-McGregor, Neil & Verspagen, Bart, 2019.
"Characterizing growth instability: new evidence on unit roots and structural breaks in long run time series,"
MERIT Working Papers
2019-026, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
- Emanuele Russo & Neil Foster-McGregor & Bart Verpagen, 2019. "Characterizing growth instability: new evidence on unit roots and structural breaks in long run time series," LEM Papers Series 2019/29, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
- Zulquar Nain & Bandi Kamaiah, 2020. "Uncertainty and Effectiveness of Monetary Policy: A Bayesian Markov Switching-VAR Analysis," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 9(special i), pages 237-265.
- Gozgor, Giray, 2016. "Are shocks to renewable energy consumption permanent or transitory? An empirical investigation for Brazil, China, and India," Renewable and Sustainable Energy Reviews, Elsevier, vol. 66(C), pages 913-919.
- John D. Levendis, 2018. "Time Series Econometrics," Springer Texts in Business and Economics, Springer, number 978-3-319-98282-3, June.
- El-Shazly, Alaa, 2016. "Structural breaks and monetary dynamics: A time series analysis," Economic Modelling, Elsevier, vol. 53(C), pages 133-143.
- Tang, Chor Foon & Tan, Bee Wah & Ozturk, Ilhan, 2016. "Energy consumption and economic growth in Vietnam," Renewable and Sustainable Energy Reviews, Elsevier, vol. 54(C), pages 1506-1514.
- Iman Cheratian & Saleh Goltabar & Luis A. Gil-Alaña, 2023. "The unemployment hysteresis by territory, gender, and age groups in Iran," SN Business & Economics, Springer, vol. 3(2), pages 1-18, February.
- Ma, Wei & Li, Haiqi, 2016. "Time-varying saving–investment relationship and the Feldstein–Horioka puzzle," Economic Modelling, Elsevier, vol. 53(C), pages 166-178.
- Adewuyi, Adeolu O. & Wahab, Bashir A. & Adeboye, Olusegun S., 2020. "Stationarity of prices of precious and industrial metals using recent unit root methods: Implications for markets’ efficiency," Resources Policy, Elsevier, vol. 65(C).
- García-Cintado, Alejandro & Romero-Ávila, Diego & Usabiaga, Carlos, 2015. "Can the hysteresis hypothesis in Spanish regional unemployment be beaten? New evidence from unit root tests with breaks," Economic Modelling, Elsevier, vol. 47(C), pages 244-252.
- Mishra, Vinod & Smyth, Russell, 2014.
"Convergence in energy consumption per capita among ASEAN countries,"
Energy Policy, Elsevier, vol. 73(C), pages 180-185.
- Vinod Mishra & Russell Smyth, 2014. "Convergence in energy consumption per capita among ASEAN countries," Monash Economics Working Papers 22-14, Monash University, Department of Economics.
- Chen, Shyh-Wei & Xie, Zixiong, 2017. "Asymmetric adjustment and smooth breaks in dividend yields: Evidence from international stock markets," International Review of Economics & Finance, Elsevier, vol. 48(C), pages 339-354.
- Dakpogan, Arnaud & Smit, Eon, 2018. "The effect of electricity losses on GDP in Benin," MPRA Paper 89545, University Library of Munich, Germany.
- Mehmet Erdoğmuş, 2023. "Do Shocks Permanently Affect Ecological Balance Per Capita in Brazil, South Africa, and New Zealand?," EKOIST Journal of Econometrics and Statistics, Istanbul University, Faculty of Economics, vol. 0(39), pages 147-160, December.
- Canepa, Alessandra, 2024. "Inflation dynamics and persistence: The importance of the uncertainty channel," The North American Journal of Economics and Finance, Elsevier, vol. 72(C).
- Winkelried, Diego, 2021.
"Unit roots in real primary commodity prices? A meta-analysis of the Grilli and Yang data set,"
Journal of Commodity Markets, Elsevier, vol. 23(C).
- Winkelried, Diego, 2017. "Unit roots in real primary commodity prices? A meta-analysis of the Grilli and Yang data set," Working Papers 2017-013, Banco Central de Reserva del Perú.
- Belbute, José Manuel, 2013.
"Is the Euro-Area core price index really more persistent than the food and energy price indexes?,"
Research in Economics, Elsevier, vol. 67(4), pages 307-315.
- José Manuel Belbute, 2010. "Is the Euro-Area Core Price Index Really More Persistent than the Food and Energy Price Indexes?," Economics Working Papers 3_2010, University of Évora, Department of Economics (Portugal).
- José Manuel Madeira Belbute, 2011. "Is the Euro-Area Core Price Index Really More Persistent than the Food and Energy Price Indexes?," CEFAGE-UE Working Papers 2011_14, University of Evora, CEFAGE-UE (Portugal).
- Chang, Ming-Jen & Su, Che-Yi, 2015. "Does real interest rate parity really hold? New evidence from G7 countries," Economic Modelling, Elsevier, vol. 47(C), pages 299-306.
- Chen, Shyh-Wei & Hsu, Chi-Sheng, 2016. "Threshold, smooth transition and mean reversion in inflation: New evidence from European countries," Economic Modelling, Elsevier, vol. 53(C), pages 23-36.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:manchs:v:92:y:2024:i:3:p:231-245. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/semanuk.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.