caa a22 4500 38639587X CHVBK 20180307112138.0 cr unu---uuuuu 161130s1989 xx s 000 0 eng 10.1017/S0770451800029584 doi S0770451800029584 pii (NATIONALLICENCE)cambridge-10.1017/S0770451800029584 Price Inertia and Nominal Aggregate Demand in Major European Countries [Elektronische Daten] In this paper we report new evidence on the importance of price level inertia in the four major European countries: Germany, Prance, Italy and the United Kingdom. We focus on the sensitivity of the results to different proxies for aggregate demand and different measures of equilibrium (or trend output). Overall, our results confirm the findings of related studies, and show that price level inertia is present to a significant degree in Europe. In addition, monetary aggregates appear to be a poor proxy for aggregate demand because of systematic movements in velocity. Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 1989 130 nationallicence 310 nationallicence 130 nationallicence 310 nationallicence Bordes Christian Université de Limoges and Banque de France Driscoll Michael Middlesex Polytechnic, London Strauss-kahn Marc-Olivier Banque de France Recherches Economiques De Louvain / Louvain Economic Review Cambridge University Press 55/2(1989), 103-128 0770-4518 55:2<103 1989 55 LER https://doi.org/10.1017/S0770451800029584 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1017/S0770451800029584 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Bordes Christian Université de Limoges and Banque de France NATIONALLICENCE 700 1- Driscoll Michael Middlesex Polytechnic, London NATIONALLICENCE 700 1- Strauss-kahn Marc-Olivier Banque de France NATIONALLICENCE 773 0- Recherches Economiques De Louvain / Louvain Economic Review Cambridge University Press 55/2(1989), 103-128 0770-4518 55:2<103 1989 55 LER CC0 http://creativecommons.org/publicdomain/zero/1.0 nationallicence SWISSBIB 216295300 BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-cambridge