High Inflation in the Baltics: Disentangling Inflation Dynamics and Its Impact on Competitiveness

Medientyp: E-Book

Titel: High Inflation in the Baltics: Disentangling Inflation Dynamics and Its Impact on Competitiveness

Beteiligte: Fan, Alice [Verfasser:in]; Hu, Bingjie [Sonstige Person, Familie und Körperschaft]; Naik, Sadhna [Sonstige Person, Familie und Körperschaft]; Noumon, Neree [Sonstige Person, Familie und Körperschaft]; Primus, Keyra [Sonstige Person, Familie und Körperschaft]

Erschienen: Washington, D.C: International Monetary Fund, 2024

Umfang: 1 Online-Ressource (35 pages)

Sprache: Englisch

DOI: 10.5089/9798400270826.001

Identifikator:

Schlagwörter: Macroeconomics ; Economics: General ; Inflation ; Labor ; Production and Operations Management ; Employment ; Unemployment ; Wages ; Intergenerational Income Distribution ; Aggregate Human Capital ; Aggregate Labor Productivity ; Price Level ; Deflation ; Comparative or Joint Analysis of Fiscal and Monetary Policy ; Stabilization ; Treasury Policy ; Wages, Compensation, and Labor Costs: General ; Macroeconomics: Production ; Demand and Supply of Labor: General ; Fiscal Policy ; Economic & financial crises & disasters ; Economics of specific sectors ; Labour; income economics ; Prices ; [...]

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Beschreibung: This paper identifies and quantifies the drivers of inflation dynamics in the three Baltic economies and assesses the effectiveness of fiscal policy in fighting inflation. It also analyzes the macroeconomic impact of inflation on competitiveness by focusing on the relationship between wages and productivity in the tradeable sector. The results reveal that inflation in the Baltics is largely driven by global factors, but domestic demand matters as well, suggesting that fiscal policy can play a role in containing inflation. Also, there is robust evidence of a long-run (cointegration) relationship between (real) wages in the tradeable (manufacturing) sector and productivity in the Baltics with short-term deviations self-correcting in Estonia and Lithuania only

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