productivity trends for the consistency of the Maastricht convergence criteria an for the differences in nation inflation rates …Inflation has fallen dramatically in countries like Spain and Italy over the last decade, but the rate of increase in … that this discrepancy can be explained (at least in part) by trends in productivity; average labour productivity has grown …

In this paper we measure, at sectoral level, the sources of Spanish productivity growth, distinguishing among the roles … played by labor productivity, the degree of factor substitution and total factor productivity (Solow residual). In terms of … value added, total factor productivity growth in the manufacturing sector is higher than in services (2.4% and 1 …

Total Factor Productivity (TFP) accounts for a sizeable proportion of the income and growth differences across …

We test the Barro-Gordon model extended to allow for persistence in unemployment. First, we build an index of central … bank independence and measures of persistence, and then we compare them with inflation performance in OECD countries. Our … of inflation. …

Inflation-indexed bonds are fixed-income securities whose nominal cash flows are adjusted to an inflation index. In … countries where these securities exist, inflation expectations are sometimes estimated as the spread between the nominal yield … the same issuer. However, this indicator known as the break-even rate, may estimate inflation expectations with some …

Political Science on June 4th. It starts by asking what factors have been behind the remarkable retreat of inflation that has …

provincial inflation divergences and relative price shifts. Inflation differentials are found to be small (the range is less than …

orientation of macroeconomic policies - and of monetary policies in particular - to achieving lower inflation rates. This has led … to a move from low inflation to price stability in a number of countries and, in particular, in Spain. The purpose of … from achieving inflation rates which are low enough to be considered consistent with a situation of price stability. …

We use an integrated framework based on the CCAPM to jointly estimate ex-ante real interest rates, inflation risk … premia and agents' inflation expectation errors in four countries - France, Spain, UK and US - under three different …

This paper develops and estimates a game-theoretical model of inflation targeting where the central banker …