High versus low inflation: implications for price-level convergence

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dc.authorid0000-0003-1412-4488en_US
dc.contributor.authorYazgan, Ege
dc.contributor.authorYılmazkuday, Hakan
dc.date.accessioned2021-06-17T12:01:55Z
dc.date.available2021-06-17T12:01:55Z
dc.date.issued2016-11
dc.description.abstractThis paper investigates the relationship between the level of inflation and regional price-level convergence utilizing micro-level price data from Turkey during two clearly distinguishable periods of high and low inflation. The results indicate that higher persistence and slower convergence of price levels are evident during the low-inflation period, which corresponds to the inflation targeting (IT) regime. During the low-inflation IT regime, inflation convergence across regions appears to occur more quickly and may be responsible for the slower pace of convergence in price levels. Overall, IT in Turkey, which was successful in lowering and maintaining inflation at acceptable levels, also appears to be associated with faster convergence in inflation rates at the expense of slower convergence in price levels.en_US
dc.fullTextLevelFull Texten_US
dc.identifier.doi10.1007/s00181-015-0990-3
dc.identifier.issn0377-7332
dc.identifier.scopus2-s2.0-84938151313en_US
dc.identifier.urihttps://hdl.handle.net/11411/3836
dc.identifier.urihttps://doi.org/10.1007/s00181-015-0990-3
dc.identifier.wosWOS:000375562000017en_US
dc.identifier.wosqualityQ1en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.issue4en_US
dc.language.isoenen_US
dc.nationalInternationalen_US
dc.numberofauthors2en_US
dc.pages1527-1563en_US
dc.relation.ispartofEmpirical Economics, Forthcomingen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.titleHigh versus low inflation: implications for price-level convergence
dc.typeArticle
dc.volume50en_US

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