Skip to main content
Article thumbnail
Location of Repository

Characteristics of inflation in Greece: mean spillover effects among CPI components

By Nicholas Apergis

Abstract

The objective of this paper is to investigate the behaviour of various CPI components in terms of their spillover behaviour. This is the first study analyzing the causal relationship between CPI components in Greece. The empirical analysis uses data on different components of the Consumer Price Index (CPI) with 1995 as the base year (1995=100). Data covers the period 1981 to 2009. Our results indicated the primary price movements are transmitted from the energy price indices, i.e. the electricity price index, the energy price index and the fuels and gas price index, while a secondary role also comes from the food and vegetables price index along with the services price index. In terms of causality, the evidence indicates that there is a unidirectional transmission of energy prices disturbance to the remaining CPI components, while innovations (shocks) to the remaining CPI components did not have any significant effect on all indices

Topics: HC Economic History and Conditions
Publisher: Hellenic Observatory, London School of Economics and Political Science
Year: 2011
OAI identifier: oai:eprints.lse.ac.uk:32597
Provided by: LSE Research Online

Suggested articles

Citations

  1. (2008). A new role for the church? Reassessing the place of religion in the Greek public sphere, doi
  2. (2007). Anti-Americanism in Greece: reactions to the 11-S,
  3. (2007). Anti-Americanism in Greece: reactions to the 11-S, Afghanistan and Iraq,
  4. (2008). Antigone “Deae ex Machina”: migrant women, care work and women’s employment in Greece, doi
  5. (2009). Between Enlargement-led Europeanisation and Balkan Exceptionalism: an appraisal of Bulgaria’s and Romania’s entry into the European Union, doi
  6. (2011). Characteristics of inflation in Greece: mean spillover effects among CPI components,
  7. (2010). Distributional implications of tax evasion in Greece, doi
  8. (2005). Does product market competition reduce inflation? Evidence from EU countries and sectors, Working Paper
  9. (2007). Economic Policy in EMU: Community Framework, National Strategies and Greece,
  10. (2010). Effects of Migration on Sending Countries: lessons from
  11. (2010). Effects of Migration on Sending Countries: lessons from Bulgaria,
  12. (2004). Effects of temporal aggregation and systematic sampling on model dynamics and causal inference, Working Paper,
  13. (2009). EU Energy Policy and Regional Co-operation in South-East Europe: managing energy security through diversification of supply?,
  14. (2007). Filippaios Fragkiskos and Phillips Paul, An ‘eclectic’ investigation of tourism multinationals’ activities: Evidence from the Hotels and Hospitality Sector in Greece, doi
  15. (1974). From Pragmatism to Idealism to Failure: Britain in the Cyprus crisis of
  16. (2007). Greece’s new Balkan Economic Relations: policy shifts but no structural change,
  17. (2007). Growing Together? – Prospects for Economic Convergence and Reunification in Cyprus,
  18. (2007). Institutions and the Implementation of EU Public Policy in Greece: the case of public procurement, doi
  19. (2009). Local sustainable development and spatial cohesion in the post-transition Balkans: policy issues and some theory,
  20. (2009). Making Citizenship Education Work: European and Greek perspectives,
  21. (2009). Mass Media and the Europeanization of Greek-Turkish Relations: discourse transformation in the Greek press 1997-2003,
  22. (2008). Modernization and Centre-Left Dilemmas in Greece: the Revenge of the Underdogs,
  23. (2009). Oil price pass-through into inflation’, doi
  24. (2010). Panagopoulos, Yannis, and Vlamis, Prodromos, Symmetric or Asymmetric Interest Rate Adjustments? Evidence from Greece, doi
  25. (2010). Panagopoulos, Yannis, and Vlamis, Prodromos, Symmetric or Asymmetric Interest Rate Adjustments? Evidence from Greece, Bulgaria and Slovenia, doi
  26. (2007). Patterns of spatial association and their persistence across socio-economic indicators: the case of the Greek regions, doi
  27. (2009). Political Discrimination in the Aftermath of Violence: the case of the Greek riots,
  28. (2010). Privatization in the name of ‘Europe’. Analyzing the telecoms privatization in Greece from a ‘discursive institutionalist’ perspective,
  29. (2008). Public Spending Patterns:The Regional Allocation of Public Investment in Greece by Political Period, doi
  30. (2008). Quo Vadis Southeast Europe? EU Accession, Regional Cooperation and the need for a Balkan Development Strategy,
  31. (2008). Religious Freedom and Minority Rights in Greece: the case of the Muslim minority in western Thrace,
  32. (2010). Rethinking Public Financial Management and Budgeting in Greece: time to reboot?,
  33. (2007). Social Capital and Public Policy in Greece, doi
  34. (2010). Student Status and Academic Performance: an approach of the quality determinants of university studies in Greece, doi
  35. Subsidising Europe’s Industry: is Greece the exception?,
  36. (2008). Taxation and Capital Structure: evidence from a transition economy, doi
  37. (2009). Ten Years of EMU: convergence, divergence and new policy priorities, doi
  38. (2010). The domestic Balassa-Samuelson effect of inflation, Working Paper, Hellenic Observatory, London School of Economics,
  39. (2008). The Emergence of Regional Policy in Bulgaria: regional problems, EU influences and domestic constraints, doi
  40. (1995). The Greek Paradox of Falling Competitiveness and Weak Institutions
  41. (2008). The politics of differentiated integration: the case of the Balkans,
  42. (2010). The Record of Gender Policies in Greece 1980-2010: legal form and economic substance,
  43. (2008). The security dimensions of a Cyprus solution,
  44. (2010). Transition Strategies and Labour Market Integration of Greek University Graduates,
  45. (2010). Vacillations around a Pension Reform Trajectory: time for a change?,
  46. (2008). Varieties of Capitalism’ and the Greek case: explaining the constraints on domestic reform?,
  47. (2009). Vassilis and Antoniades, Andreas Reform That! Greece’s failing reform technology: beyond ‘vested interests’ and ‘political exchange’, doi
  48. (2010). When Foreign Direct Investment is Good for Development: Bulgaria’s accession, industrial restructuring and regional FDI,
  49. (2007). Why has core inflation remained so muted in the face of the oil shock?’, doi

To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.