Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/33233
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dc.date.accessioned2018-08-31T07:03:57Z-
dc.date.available2018-08-31T07:03:57Z-
dc.date.issued2013-
dc.identifier.citationMicallef, B., & Cyrus, L. (2013). Inflation differentials in a monetary union : the case of Malta. Central Bank of Malta WP/05/2013.en_GB
dc.identifier.urihttps://www.um.edu.mt/library/oar//handle/123456789/33233-
dc.description.abstractThe objective of this paper is to enhance the understanding of inflation dynamics in Malta and investigate the underlying sources of inflation differentials with the euro area. A country that registers persistently higher inflation than its main trading partners will suffer from a deterioration in its external price competitiveness, with subsequent losses in output and employment. This is even more relevant in the context of a monetary union, where asymmetric shocks cannot be corrected by changes in monetary or exchange rate policies but rather through structural policies and relative adjustments in prices and wages. Although some degree of price dispersion is a common feature of currency unions, inflation differentials in the euro area have been very persistent, with some countries systematically registering higher or lower inflation compared to the union‟s average, exacerbating the internal imbalances within the monetary union.en_GB
dc.language.isoenen_GB
dc.publisherCentral Bank of Maltaen_GB
dc.rightsinfo:eu-repo/semantics/openAccessen_GB
dc.subjectMonetary Unions -- Maltaen_GB
dc.subjectInflation (Finance) -- Maltaen_GB
dc.subjectEurozone -- Economic policyen_GB
dc.subjectPrice indexes -- Maltaen_GB
dc.titleInflation differentials in a monetary union : the case of Maltaen_GB
dc.typeworkingPaperen_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder.en_GB
dc.contributor.corpauthorCentral Bank of Maltaen_GB
dc.description.reviewedN/Aen_GB
dc.contributor.creatorMicallef, Brian-
dc.contributor.creatorCyrus, Laurent-
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