Why Did Southeastern European Countries Experience Low Inflation Rates in the Beginning of This Century?

Hiroyuki Yamada and Gerwin Bell

European Journal of Comparative Economics, 2012, vol. 9, issue 2, 229-246

Abstract: In the last decade, the inflation rates of Southeastern European (SEE) countries - Albania, Bosnia and Herzegovina, Croatia, Macedonia, Montenegro, and Serbia - have been more comparable to those in the euro area than to those in otherwise similar emerging economies; the only exception is Serbia. These low inflation rates can only partly be explained by initial price levels. In addition, the exchange rate regime is of paramount importance. Our analysis also explores additional differences between SEE and other regions

Keywords: inflation; price convergence; exchange rate regime; Southeastern Europe (search for similar items in EconPapers)
JEL-codes: E31 F15 F3 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:liu:liucej:v:9:y:2012:i:2:p:229-246

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