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Sacrifice Ratios: Some lessons from EMU countries, 1960-2001

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  • Juncal Cunnado
  • Fernando PErez De Gracia

Abstract

This paper estimates the sacrifice ratios based on the Phillips curve. Using annual data, we estimate individual and common sacrifice ratios for EMU countries. In addition, we test whether the sacrifice ratio is stable for the whole period, which includes years of both high and low inflation rates, such as those observed after the European integration.

Suggested Citation

  • Juncal Cunnado & Fernando PErez De Gracia, 2003. "Sacrifice Ratios: Some lessons from EMU countries, 1960-2001," International Review of Applied Economics, Taylor & Francis Journals, vol. 17(3), pages 327-337.
    • Handle: RePEc:taf:irapec:v:17:y:2003:i:3:p:327-337
    DOI: 10.1080/0269217032000090513
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    2. Ansgar Belke & Tobias Böing, 2014. "Sacrifice Ratios for Euro Area Countries: New Evidence on the Costs of Price Stability," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 47(4), pages 455-471, December.

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