Inflation Smoothing and the Modest Effect of VAT in Germany

Inflation Smoothing and the Modest Effect of VAT in Germany
Increases in German core inflation following the 2007 VAT hike were smaller than expected, leading to speculation about delayed inflationary effects. This paper argues to the contrary that price increases in advance of the VAT hike explain the small increase upon implementation. We find that core inflation rose by 0.36 percentage point in the... READ MORE...

Publication date: July 2008
ISBN 9781451870336
$18.00

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