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Did The Introduction Of The Euro Have An Impact On Inflation Uncertainty?—An Empirical Assessment

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  • Hartmann, Matthias
  • Herwartz, Helmut

Abstract

We compare inflation uncertainty in distinguished groups of economies. Results indicate that during the recent financial crisis the global inflation climate has become markedly more uncertain than previously. We document that in comparison to other economies, member states of the European Monetary Union are less exposed to inflation uncertainty. Three European Union members that are not part of the monetary union and five other OECD member economies serve as control groups. With regard to the quantification of inflation uncertainty, results are robust over a set of alternative estimates of the latent inflation risk processes.

Suggested Citation

  • Hartmann, Matthias & Herwartz, Helmut, 2014. "Did The Introduction Of The Euro Have An Impact On Inflation Uncertainty?—An Empirical Assessment," Macroeconomic Dynamics, Cambridge University Press, vol. 18(6), pages 1313-1325, September.
    • Handle: RePEc:cup:macdyn:v:18:y:2014:i:06:p:1313-1325_00
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    Cited by:

    1. Neil Lawton & Liam A. Gallagher, 2020. "The negative side of inflation targeting: revisiting inflation uncertainty in the EMU," Applied Economics, Taylor & Francis Journals, vol. 52(29), pages 3186-3203, June.
    2. Christian Grimme & Steffen Henzel & Elisabeth Wieland, 2014. "Inflation uncertainty revisited: a proposal for robust measurement," Empirical Economics, Springer, vol. 47(4), pages 1497-1523, December.
    3. Nima Nonejad, 2019. "Has the 2008 financial crisis and its aftermath changed the impact of inflation on inflation uncertainty in member states of the european monetary union?," Scottish Journal of Political Economy, Scottish Economic Society, vol. 66(2), pages 246-276, May.

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