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- W3124202498 abstract "This contribution compares and contrasts Emerging Asia with Emerging Europe – the CESEE region to be specific – in terms of their inflation dynamics. The idea is to single out factors which are similar as well as factors which are different. To start with, the inflation performance of the CESEE region has been remarkable. In the context of economic stabilisation, taking place in the late 1990s and early 2000s, the region was characterized by a strong disinflation process, mainly driven by a few countries, for instance Romania. Inflation subsequently returned and picked up in the period from 2006 to 2008, but since then inflation rates have been rather modest. Overall, Emerging Asia has exhibited fairly similar inflation patterns, yet its crisis response seems to have been rather different. Whereas inflation rates in Emerging Europe stayed at very low levels or declined even further, inflation rates in Emerging Asia returned to elevated pre-crisis levels relatively soon (Chart 1 a + b). A possible explanation is the sovereign debt crisis in some Euro Area countries, which prevented growth in the CESEE region from recovering as quickly as it did elsewhere. Due to the strong economic linkages between the Euro Area and CESEE there were several negative spill-overs to the CESEE region, with negative economic sentiment triggering severe setbacks in demand." @default.
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- W3124202498 date "2013-01-01" @default.
- W3124202498 modified "2023-09-26" @default.
- W3124202498 title "The impact of external shocks on inflation dynamics in CESEE" @default.
- W3124202498 hasPublicationYear "2013" @default.
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