In this paper we propose a model for the dynamics of inflation in Italy. It is shown that both in the short and long run the inflation patterns cannot be explained by a single cause. Changes in monetary and credit markets, and in many sectors of the Italian economy suggest to split the sample period into two sub-samples and modelling inflation differently for each of the periods. Moreover, a robustness analysis rejects the hypothesis of a structural break associated with the institutional changes occurred in 1999, with the adhesion to the EMU and the adoption of the euro.

E. Bacchiocchi (2009). Modelling Italian inflation : 1970-2006. RIVISTA DI POLITICA ECONOMICA, 99(1/3), 65-110.

Modelling Italian inflation : 1970-2006

E. Bacchiocchi
2009

Abstract

In this paper we propose a model for the dynamics of inflation in Italy. It is shown that both in the short and long run the inflation patterns cannot be explained by a single cause. Changes in monetary and credit markets, and in many sectors of the Italian economy suggest to split the sample period into two sub-samples and modelling inflation differently for each of the periods. Moreover, a robustness analysis rejects the hypothesis of a structural break associated with the institutional changes occurred in 1999, with the adhesion to the EMU and the adoption of the euro.
2009
E. Bacchiocchi (2009). Modelling Italian inflation : 1970-2006. RIVISTA DI POLITICA ECONOMICA, 99(1/3), 65-110.
E. Bacchiocchi
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11585/787903
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