component of national inflation and disregarding the idiosyncratic one, we clean inflation from measurement error, discrepancies …This paper proposes an index of core inflation for the euro area which exploits information from a large panel of time …

Since 2013 the inflation rate in the euro area has fallen steadily, reaching all-time lows at the end of 2014. Market …-based measures of inflation expectations (such as inflation swaps) have also declined to extremely low levels, which suggests … increasing concern about the credibility of the ECB in maintaining price stability. Inflation releases have often surprised …

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

The empirical literature on the transmission of monetary policy to inflation in Italy has stressed the importance of … the exchange rate and, to some extent, of the demand channel; recently, the roles of inflation expectations and the fiscal … situation have been emphasized. This paper uses vector auto-regression to address this issue. The results suggest that inflation …

Even low levels of trend inflation substantially affect the dynamics of a basic new Keynesian DSGE model when monetary … policy is conducted by a contemporaneous Taylor rule. Positive trend inflation shrinks the determinacy region. Neither the … Taylor principle, which requires the inflation coefficient to be greater than one, nor the generalized Taylor principle …

previous findings, the monetary policymaker has no incentive to adopt highly inflation-averse policies: too strong a reaction … to price shocks increases both inflation and output volatility; (3) partial transparency seems to enhance somewhat … welfare (but fully transparent policies do not); (4) a higher degree of transparency calls for stronger inflation aversion. …

This paper analyses the macroeconomic effects of a protracted period of low and falling inflation rates when monetary … terms (debt-deflation channel). In this scenario, even cost-push shocks that in normal circumstances would reduce inflation …