level, after controlling for inflation expectations, and whether it is concentrated among those firms that are more exposed …

Generalized Dynamic Factor Model to derive a set of core inflation indicators that, combining national with area-wide data, allow …-wide inflation once the information contained in area-wide data has been exploited, and whether it is useful, in order to track ECB …

in output and inflation are due to changes in potential output or to cyclical demand and cost shocks. We refer to this … ndings provide a partial explanation for the inflation of the seventies and the price stability of the nineties. 3. A … during and following periods of large changes in potential output the IP significantly affects the dynamics of inflation and …