Pregled bibliografske jedinice broj: 688954
Modeling Inflation in Croatia
Modeling Inflation in Croatia // The 24th International Symposium on Money, Banking and Finance
Rennes, Francuska, 2007. (predavanje, međunarodna recenzija, neobjavljeni rad, znanstveni)
CROSBI ID: 688954 Za ispravke kontaktirajte CROSBI podršku putem web obrasca
Naslov
Modeling Inflation in Croatia
Autori
Broz, Tanja ; Vizek, Maruška
Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, neobjavljeni rad, znanstveni
Skup
The 24th International Symposium on Money, Banking and Finance
Mjesto i datum
Rennes, Francuska, 14.06.2007. - 15.06.2007
Vrsta sudjelovanja
Predavanje
Vrsta recenzije
Međunarodna recenzija
Ključne riječi
cointegration; Croatia; general-to-specific; inflation modeling
Sažetak
This paper constructs a quarterly inflation model for Croatia, using the generalto- specific approach to model inflation dynamics. A two-step procedure is followed. First, we conduct a long-run sectoral analysis of inflation sources, yielding long-run determinants of inflation: markup, excess money, nominal effective exchange rate, and the output gap. Second, we estimate an equilibrium error correction model of inflation, deploying, among other variables of interest, the long-run solutions derived in the first step. The derived model of inflation suggests that inflation inertia and Croatian trading partners’ inflation are most important for explaining the short-run behavior of inflation. Apart from these two variables, markup, excess money, output gap, nominal exchange rate, and broad money also contribute to inflation changes in the short run.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
