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- W1981066964 abstract "The paper addresses some of the macroeconomic implications of the simultaneous pursuit of the goals of nominal and real convergence in the presence of a fast and sustained catch-up process. It is argued that when pursued simultaneously, nominal and real convergence may give rise to conflicting policy targets for the new EU members and acceding countries. The reason is that a fast catch-up process within a rigid macroeconomic framework is very likely to be accompanied by catch-up inflation, which is an equilibrium feature of this process. The paper proposes a simple accounting framework which is used to simulate the likely range of the expected catch-up inflation in the new EU members and acceding countries and discusses some of the related policy implications." @default.
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- W1981066964 date "2006-12-01" @default.
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- W1981066964 title "Catch-up inflation and nominal convergence: The balancing act for new EU entrants" @default.
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- W1981066964 doi "https://doi.org/10.1016/j.ecosys.2006.07.008" @default.
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