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

We explain why the macroeconomic effects of shocks to inflation of the same size, but opposite sign, are not … necessarily symmetric. All in all, the costs of deflation and disinflation tend to exceed those of inflation due to the presence … borrowing limits. When these constraints are binding, they can prevent monetary policy from closing the inflation gap, labor …

responses of output and inflation to monetary policy shocks between the two periods. The estimation of a DSGE model with several … economy as the result of a decrease in the degree of nominal rigidities and a shift in monetary policy towards inflation …

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 …

wage, unemployment and inflation. This is done by considering a two-stage strategic interaction between a central bank (CB …

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 …

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 …

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 …