scholarly journals Retail Market Structure and Consumer Prices in the Euro Area

2014 ◽  
Author(s):  
Emanuela Ciapanna ◽  
Concetta Rondinelli
Keyword(s):  
Market Structure ◽  
Euro Area ◽  
Retail Market ◽  
Consumer Prices

scholarly journals A First Assessment of Some Measures of Core Inflation for the Euro Area

2003 ◽  
Vol 4 (3) ◽  
pp. 269-306 ◽  
Author(s):  
Juan-Luis Vega ◽  
Mark A. Wynne
Keyword(s):  
Euro Area ◽  
Superior Performance ◽  
Significant Advance ◽  
The European Union ◽  
Policy Makers ◽  
Core Inflation ◽  
Consumer Prices ◽  
Trend Inflation ◽  
Alternative Measures ◽  
Core Measures

Abstract Core inflation plays an important role in the deliberations of monetary policy-makers. In this paper we evaluate a number of measures of core inflation constructed using euro-area data. In addition to the traditional exclusion-type core measures, we examine two newer ones, documenting their properties and evaluating their performance in terms of their ability to track underlying or trend inflation in real time. We focus on core measures derived from the Harmonized Index of Consumer Prices (HICP) as the European Central Bank has chosen to define its mandate for price stability in terms of this index, and because this is the only index of consumer prices that is compiled in a comparable manner across all members of the European Union. We document significant excess kurtosis in the cross-section distribution of price changes in the euro area, and show that several categories of prices are more volatile than those typically excluded from traditional measures of core inflation. Contrary to what one might expect, traditional measures of core inflation are not significantly less volatile than headline measures.We document the superior performance of alternative measures of core inflation in tracking trend inflation on average, but show that none of the various measures of core gave significant advance warning of the pickup in trend inflation at the beginning of 1999.

Food retail market structure and produce purchases in the United States

Agribusiness ◽  
2018 ◽  
Vol 34 (4) ◽  
pp. 756-770 ◽  
Author(s):  
Xiaowei Cai ◽  
Richard Volpe ◽  
Christiane Schroeter ◽  
Lisa Mancino
Keyword(s):  
United States ◽  
Market Structure ◽  
The United States ◽  
Retail Market ◽  
Food Retail

Spatial aspects of retail market structure beef pricing revisited

1993 ◽  
Vol 11 (2) ◽  
pp. 283-291 ◽  
Author(s):  
Richard J. Claycombe ◽  
Tamara E. Mahan
Keyword(s):  
Market Structure ◽  
Retail Market

The Fairy Tale of Low Inflation in the Euro Area

2018 ◽  
Vol 15 (1) ◽  
Author(s):  
Martin Hochstein
Keyword(s):  
Financial Markets ◽  
Euro Area ◽  
European Central Bank ◽  
Fairy Tale ◽  
Primary Objective ◽  
Price Stability ◽  
Medium Term ◽  
European Central ◽  
Consumer Prices ◽  
Downward Bias

Abstract There are strong indications that actual consumer inflation in the euro area is understated by official price measures. The exclusion of homeowner shelter costs and inadequate quality adjustments for certain basket items are among the reasons for a potential downward bias in Eurostat's Harmonised Index of Consumer Prices, which would have widespread ramifications not only for consumers but also for the broader economy and financial markets. By focusing on the HICP as a yardstick for its primary objective of medium-term price stability, the European Central Bank relies on a too narrowly defined and error-prone inflation concept.

scholarly journals Unconventional Monetary Policy, Fiscal Side Effects, and Euro Area (Im)balances

2019 ◽  
Vol 18 (1) ◽  
pp. 202-231 ◽  
Author(s):  
Michael Hachula ◽  
Michele Piffer ◽  
Malte Rieth
Keyword(s):  
Monetary Policy ◽  
Interest Rates ◽  
Euro Area ◽  
Public Expenditures ◽  
Inflation Expectations ◽  
Unconventional Monetary Policy ◽  
Vector Autoregressions ◽  
Public And Private ◽  
Consumer Prices ◽  
The Common

Abstract We study the macroeconomic effects of unconventional monetary policy in the euro area using structural vector autoregressions, identified with external instruments. The instruments are based on the common unexpected variation in euro area sovereign yields for different maturities on policy announcement days. We first show that expansionary monetary surprises are effective at lowering public and private interest rates and increasing economic activity, consumer prices, and inflation expectations. We then document that the shocks lead to a rise in primary public expenditures and a widening of internal trade balances.

Structure and Food Price Inflation

2017 ◽  
Vol 16 (1) ◽  
Author(s):  
Ilya Rahkovsky ◽  
Richard Volpe
Keyword(s):  
Market Structure ◽  
Price Index ◽  
Consumer Price Index ◽  
Market Concentration ◽  
Food Prices ◽  
Food Price ◽  
Retail Market ◽  
Food Markets ◽  
Price Inflation ◽  
Market Shares

AbstractWe pair Nielsen TDLinx data, 2004–2014, with Consumer Price Index data to investigate how changes in food retail market structure drive food price inflation. We find, in corroboration with much of the evidence to date, that market concentration is positively and significantly associated with higher food prices. We find the same to be true for store format concentration, or the homogeneity of food markets. As the market shares, or penetration, of supercenters, warehouse stores, limited assortment stores, and superettes increase at expense of traditional supermarkets, food price inflation decreases.

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