Show simple item record

dc.contributor.authorGajewski, Paweł
dc.description.abstractThis paper investigates patterns of regional inflation persistence in Poland, a representative CEE country. We first argue that the CEE perspective is relevant in the context of this study due to the recent transitions, incomplete processes of forming forward-looking inflation expectations and pronounced spatial inequalities. Using individual and panel regressions on disaggregate data we provide evidence of the aggregation bias and marked differences in inflation persistence across product categories. Furthermore, we show that cross-regional differences in inflation persistence remain, even after controlling for the product category. While we generally confirm the earlier finding of Vaona and Ascari (2012) that more backward regions exhibit higher CPI inflation persistence, we also show that the picture is more nuanced at the product category level.pl_PL
dc.publisherFaculty of Economics and Sociologypl_PL
dc.relation.ispartofseriesLodz Economics Working Papers;5
dc.rightsUznanie autorstwa-Użycie niekomercyjne-Bez utworów zależnych 3.0 Polska*
dc.subjectRegional economic dynamicspl_PL
dc.subjectinflation persistencepl_PL
dc.titlePatterns of regional inflation persistence in a CEE country. The case of Polandpl_PL
dc.typeWorking Paperpl_PL
dc.contributor.authorAffiliationUniversity of Lodz, Faculty of Economics and Sociologypl_PL
dc.referencesAltissimo, F., Mojon, B., & Zafaroni, P. (2007). Fast Micro and Slow Macro: Can Aggregation Explain the Persistence of Inflation? ECB Working Papers no. 729. European Central Bank. Frankfurt.pl_PL
dc.referencesArestis, P., & Mouratidis, K. (2005). Credibility of monetary policy in four accession countries: A Markov regime-switching approach. International Journal of Finance & Economics, 10(1), 81-89. doi:10.1002/ijfe.260pl_PL
dc.referencesAscari, G., & Sbordone, A. M. (2014). The Macroeconomics of Trend Inflation. Journal of Economic Literature, 52(3), 679-739. doi:10.1257/jel.52.3.679pl_PL
dc.referencesBabecky, J., Coricelli, F., & Horvath, R. (2009). Assessing Inflation Persistence: Micro Evidence on an Inflation Targeting Economy. Finance a Uver-Czech Journal of Economics and Finance, 59(2), 102-127.pl_PL
dc.referencesBanerjee, B., & Jesenko, M. (2015). Economic Growth and Regional Disparities in Slovenia. Regional Studies, 49(10), 1722-1745. doi:10.1080/00343404.2013.879981pl_PL
dc.referencesBaranowski, P., & Gajewski, P. (2016). Credible enough? Forward guidance and perceived National Bank of Poland's policy rule. Applied Economics Letters, 23(2), 89-92. doi:10.1080/13504851.2015.1051651pl_PL
dc.referencesBarsky, R., House, C. L., & Kimball, M. (2003). Do Flexible Durable Goods Prices Undermine Sticky Price Models? Retrieved frompl_PL
dc.referencesBaxa, J., Plasil, M., & Vasicek, B. (2015). Changes in inflation dynamics under inflation targeting? Evidence from Central European countries. Economic Modelling, 44, 116-130. doi:10.1016/j.econmod.2014.10.028pl_PL
dc.referencesBenigno, P., & Lopez-Salido, J. D. (2006). Inflation persistence and optimal monetary policy in the Euro area. Journal of Money Credit and Banking, 38(3), 587-614. doi:10.1353/mcb.2006.0038pl_PL
dc.referencesBils, M., & Klenow, P. J. (2004). Some evidence on the importance of sticky prices. Journal of political economy, 112(5), 947-985.pl_PL
dc.referencesCalvo, G. A. (1983). Staggered Prices in a Utility-Maximizing Framework. Journal of Monetary Economics, 12(3), 383-398. doi:Doi 10.1016/0304-3932(83)90060-0pl_PL
dc.referencesCarlos, M. (2004). Inflation persistence: facts or artefacts? Working Paper Series.pl_PL
dc.referencesCecchetti, S. G., & Debelle, G. (2006). Has the inflation process changed? Economic Policy(46), 311-352.pl_PL
dc.referencesCecchetti, S. G., Mark, N. C., & Sonora, R. J. (2002). Price index convergence among United States cities. International Economic Review, 43(4), 1081-1099.pl_PL
dc.referencesClark, T. E. (2006). Disaggregate evidence on the persistence of consumer price inflation. Journal of Applied Econometrics, 21(5), 563-587. doi:10.1002/jae.859pl_PL
dc.referencesDokic, I., Frohlich, Z., & Bakaric, I. R. (2016). The impact of the economic crisis on regional disparities in Croatia. Cambridge Journal of Regions Economy and Society, 9(1), 179-195. doi:10.1093/cjres/rsv030pl_PL
dc.referencesErceg, C., & Levin, A. (2006). Optimal monetary policy with durable consumption goods. Journal of Monetary Economics, 53(7), 1341-1359. doi:10.1016/j.jmoneco.2005.05.005pl_PL
dc.referencesFranta, M., Saxa, B., & Smidkova, K. (2010). The Role of Inflation Persistence in the Inflation Process in the New EU Member States. Finance a Uver-Czech Journal of Economics and Finance, 60(6), 480-500.pl_PL
dc.referencesFuhrer, L. J., & Moore, G. (1995). Inflation Persistence. Quarterly Journal of Economics, 110(1), 127-159.pl_PL
dc.referencesGajewski, P., & Tchorek, G. (2017). What drives export performance of firms in Eastern and Western Poland? Lodz Economics Working Papers, 1/2017.pl_PL
dc.referencesSargent, T. J. (1999). The conquest of American inflation: Princeton University Press.pl_PL
dc.referencesSmetkowski, M. (2013). Regional Disparities in Central and Eastern European Countries: Trends, Drivers and Prospects. Europe-Asia Studies, 65(8), 1529-1554. doi:10.1080/09668136.2013.833038pl_PL
dc.referencesSousa, R., & Yetman, J. (2016). Inflation expectations and monetary policy.pl_PL
dc.referencesSteinsson, J. (2003). Optimal monetary policy in an economy with inflation persistence. Journal of Monetary Economics, 50(7), 1425-1456. doi:10.1016/j.jmoneco.2003.08.008pl_PL
dc.referencesStock, J. H., & Watson, M. W. (2007). Why has US inflation become harder to forecast? Journal of Money Credit and Banking, 39(1), 3-33. doi:10.1111/j.1538-4616.2007.00014.xpl_PL
dc.referencesTaylor, J. B. (1980). Aggregate dynamics and staggered contracts. Journal of political economy, 88(1), 1-23.pl_PL
dc.referencesVaona, A., & Ascari, G. (2012). Regional Inflation Persistence: Evidence from Italy. Regional Studies, 46(4), 509-523. doi:10.1080/00343404.2010.505913pl_PL

Files in this item


This item appears in the following Collection(s)

Show simple item record

Uznanie autorstwa-Użycie niekomercyjne-Bez utworów zależnych 3.0 Polska
Except where otherwise noted, this item's license is described as Uznanie autorstwa-Użycie niekomercyjne-Bez utworów zależnych 3.0 Polska