| Description |
1 online resource (40 pages) |
| Series |
IMF Staff Country Reports ; v. Country Report No. 15/184 |
|
IMF Staff Country Reports
|
| Contents |
Cover; CONTENTS; LOW INFLATION IN EUROPEAN INFLATION TARGETERS: CAUSES, SPILLOVERS, AND POLICY RESPONSES; A. Introduction; FIGURES; 1. Disinflation in Europe; B. Drivers of Low Inflation: Stylized Facts; 2. Decomposing Headline Inflation; 3. Real Sector Activity; 4. Nominal Effective Exchange Rates; C.A More Structured Approach; 5. Inflation Expectations; 6. System of Equations; 7. Decomposition of Contributions to Inflation; 8. First-Round and Second-Round Effects of External Factors; 9. Inflation Responses to External Shocks; 10. Inflation Responses to Inflation Expectation Shock; BOX |
|
1. Poland: Disaggregate Model to Assess Indirect and Second-Round EffectsD. The Policy Response to Inflation so Far; E. Policy Considerations; F. Conclusion; REFERENCES; APPENDICES; I. Data; II. Main Empirical Methodology and Results; III. Disentangling World Oil Supply and Demand Shocks |
| Summary |
This Selected Issues paper examines the causes and drivers of low inflation in European inflation targeting countries outside the euro area, focusing on the Czech Republic, Poland, Sweden, and Switzerland. It estimates the effects on inflation from the output gap and external factors, including oil price changes, nominal effective exchange rate (NEER) fluctuations, and euro area inflation spillovers. It is observed that external factors have been significant drivers of low inflation recently, though their contributions to inflation and the channels through which they operate vary across countr |
| Notes |
Print version record |
| Subject |
International Monetary Fund -- Czech Republic
|
|
International Monetary Fund |
|
Inflation -- Czech Republic
|
|
Economic policy
|
|
Czech Republic -- Economic policy.
|
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Czech Republic
|
| Form |
Electronic book
|
| ISBN |
151355316X |
|
9781513553160 |
|
