This article presents an indirect approach to investigate the possible existence of measurement error bias in the harmonized index of consumer prices for the UK and Italy. Our empirical results show that there is no significant evidence of a bias for the UK or for Italy piror to the introduction of the Euro. Since January 2002, however, the inflation rate in Italy has been underestimated by at least 6 percentage points.
Marini, G., Piergallini, A., Scaramozzino, P. (2007). Inflation bias after the Euro: evidence from the UK and Italy. APPLIED ECONOMICS, 39(4), 461-470 [10.1080/00036840500438962].
Inflation bias after the Euro: evidence from the UK and Italy
MARINI, GIANCARLO;PIERGALLINI, ALESSANDRO;SCARAMOZZINO, PASQUALE
2007-01-01
Abstract
This article presents an indirect approach to investigate the possible existence of measurement error bias in the harmonized index of consumer prices for the UK and Italy. Our empirical results show that there is no significant evidence of a bias for the UK or for Italy piror to the introduction of the Euro. Since January 2002, however, the inflation rate in Italy has been underestimated by at least 6 percentage points.File in questo prodotto:
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