Pregled bibliografske jedinice broj: 747605
Investigating Croatian Inflation through the Cointegration with Structural Break Approach
Investigating Croatian Inflation through the Cointegration with Structural Break Approach // Journal of Economic and Social Studies, 5 (2015), 1; 5-32 doi:: 10.14706/JEOC SS11517 (podatak o recenziji nije dostupan, članak, znanstveni)
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Naslov
Investigating Croatian Inflation through the Cointegration with Structural Break Approach
Autori
Malešević Perović, Lena
Izvornik
Journal of Economic and Social Studies (1986-8499) 5
(2015), 1;
5-32
Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni
Ključne riječi
Inflation; Croatia; Cointegration; Transition
Sažetak
This paper analyses the inflationary process in Croatia during the period 1992-2011, using a cointegration with structural break approach. Our results indicate that there is a long-run relationship between inflation, exchange rate, unit labour costs and money growth. Currency depreciation and unit labour costs are found to influence inflation positively, and money supply negatively. We argue that the latter occurs because exchange rate targeting policy in Croatia results in a situation where endogenous money moves in the direction opposite to the exchange rate, so as to keep the exchange rate fixed. We, furthermore provide some evidence that money supply need not mean risks to inflation in the presence of declining money velocity
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
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