Launch of the HICP

John Astin ()

Chapter Chapter 5 in Measuring EU Inflation, 2021, pp 79-91 from Springer

Abstract: Abstract The HICPs were designed as a tool for the Maastricht criterion on entering the Economic and Monetary Union (EMU). So at the start of the harmonization project the most important use of the HICPs was in the application of the criterion of convergence for price stability in the context of the preparations for Stage 3 of EMU (the launch of the euro in electronic form). In line with this, the harmonization work during this early period focussed on measures to remove or reduce significant long-term effects (“non-comparabilities”), as these were most likely to distort the assessments of sustainable price stability.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-68806-6_5

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DOI: 10.1007/978-3-030-68806-6_5

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