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Central Bank Independence, Centralization of Wage Bargaining, Inflation and Unemployment: Theory and Evidence
Cukierman, A.; Lippi, F. - Banca d'Italia - 1998
wage, unemployment and inflation. This is done by considering a two-stage strategic interaction between a central bank (CB …
Persistent link: https://www.econbiz.de/10005640916
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The Seasonality of the Italian Cost-of-Living Index
Cubadda, G.; Sabbatini, R. - Banca d'Italia - 1997
promptly identifying turning points in inflation. The focus of this paper is the so-called "cost-of-living" index, the most … used measure of Italian inflation. Our aim is to identify and test a model of its seasonal component, which is important in …
Persistent link: https://www.econbiz.de/10005486712
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Performance pay and shifts in macroeconomic correlations
Nucci, Francesco; Riggi, Marianna - Banca d'Italia - 2011
A coincidence in time between the volatility break associated with the "Great Moderation" and large changes in the pattern of conditional and unconditional correlations between output, hours and labor productivity was detected by Gal� and Gambetti (2009). We provide a novel explanation for...
Persistent link: https://www.econbiz.de/10009019260
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Capital destruction, jobless recoveries, and the discipline device role of unemployment
Riggi, Marianna - Banca d'Italia - 2012
I consider an economy growing along the balanced growth path that is hit by an adverse shock to its capital accumulation process. The model integrates efficiency wages due to imperfect monitoring of the quality of labour in a search and matching framework with methods of dynamic general...
Persistent link: https://www.econbiz.de/10011099655
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Potential Output, Output Gap, and Inflation in Italy in the Long Term (1861-2010): An Econometric Analysis
Baffigi, Alberto; Bontempi, Maria Elena; Golinelli, Roberto - Banca d'Italia - 2013
the Phillips curve's ability to explain inflation dynamics over a wide variety of circumstances, over the 150 years of the … country's history. In Italy, the relation linking inflation with the cyclical situation in the economy emerged only after …
Persistent link: https://www.econbiz.de/10011105101
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Prices of residential property in Italy: constructing a new indicator
Muzzicato, Salvatore; Sabbatini, Roberto; Zollino, Francesco - Banca d'Italia - 2008
approach, which apparently results in about a quarter point of additional inflation each year since 2000. …
Persistent link: https://www.econbiz.de/10005467324
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A core inflation index for the euro area
Cristadoro, Riccardo; Forni, Mario; Reichlin, Lucrezia; … - Banca d'Italia - 2001
This paper proposes an index of core inflation for the euro area which exploits information from a large panel of time … component of national inflation and disregarding the idiosyncratic one, we clean inflation from measurement error, discrepancies …
Persistent link: https://www.econbiz.de/10005113620
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Down the non-linear road from oil to consumer energy prices: no much asymmetry along the way
Venditti, Fabrizio - Banca d'Italia - 2010
In the past decade changes in oil prices have played a significant role in shaping inflation dynamics in the US and in …
Persistent link: https://www.econbiz.de/10008626023
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Excess money growth and inflation dynamics
Roffia, Barbara; Zaghini, Andrea - Banca d'Italia - 2008
The paper analyzes the short-run impact of periods of strong monetary growth on inflation dynamics for 15 …
Persistent link: https://www.econbiz.de/10005770764