Positive long-run inflation non-super-neutrality in the Euro area

Andrea Vaona

No 20/2015, Working Papers from University of Verona, Department of Economics

Abstract: By means of structural VARs we investigate the long-run nexus between inflation and output in the Eurozone under different identification schemes and model specifications. The Eurozone is an interesting case study due to its very low inflation rate and to the official adherence of its monetary authority to the classical dichotomy. We find a strong positive long-run connection between inflation and output, supporting recent theoretical models arguing that this might exist at low long-run inflation rates.

Keywords: long-run; non-vertical Phillips curve; empirical evidence (search for similar items in EconPapers)
JEL-codes: E31 E40 E50 J64 (search for similar items in EconPapers)
Date: 2015-04
New Economics Papers: this item is included in nep-cba, nep-eec, nep-mac and nep-mon
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://dse.univr.it/home/workingpapers/wp2015n20.pdf First version (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ver:wpaper:20/2015

Access Statistics for this paper

More papers in Working Papers from University of Verona, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Michael Reiter ().