Galí, Jordi; Gertler, Mark; López-Salido, J David - C.E.P.R. Discussion Papers - 2001
as a tool to compare the characteristics of European inflation dynamics with those observed in the U.S. We also analyse … the factors underlying inflation inertia by examining the cyclical behaviour of marginal costs, as well as that of its two … substantial, but in line with survey evidence and US estimates, (c)\ inflation dynamics in the Euro area appear to have a stronger …