variables over and above their effects on inflation may no longer be valid in models that consider frictions in financial … output stabilization, while both strict inflation targeting and a standard rule are less effective. The gains are amplified …

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 …

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 …

much sharper rise in inflation than measured by the official price indices, whose quality was called into question. In this … determinants. Since these data do not rely on official inflation statistics, they provide an independent check for the latter. We … official inflation statistics. We do not find evidence in support of this hypothesis. …

transmission channels by which the purchases can be expected to affect economic activity and inflation. Then we assess the effects …