We study the behavior of inflation rates among the 12 initial Euro countries in order to test whether and when the … this new procedure to Euro area inflation, we find strong and lasting evidence of convergence among the inflation rates … the occurrence of the single currency. After the 2008 crisis, Euro area inflation rates follow the ECB’s price stability …

inflation. Excess liquidity, rather than heading towards the market of consumer goods, could have moved towards the asset …

Using daily data stemming from inflation-indexed markets, we analyse the effects of numerous macroeconomic surprises on … inflation compensation data - the sum of inflation expectations, risk and liquidity premia - in the euro area between 2 January … 2004 and 31 December 2007. Our results suggest that when gauging short and medium-term inflation compensations, market …

should not affect agents' expectations of inflation in the long term. Our estimated structural VARs show that both long- and … short-term inflation expectations are sensitive to policy-related uncertainty shocks. While economic activity contracts …, long-term inflation expectations raise in response to such shocks. These results suggest that observed uncertainty about …

We introduce a new measure called Inflation-at-Risk (I@R) associated with (left and right) tail inflation risk. We … estimate I@R using survey-based density forecasts. We show that it contains information not covered by usual inflation risk … indicators which focus on inflation uncertainty and do not distinguish between the risks of low or high future inflation outcomes …

unemployment rate has increased and economic activity has been sluggish. Changes in the implicit inflation target, viewed as low … frequency movements of inflation, might possibly explain these developments. To highlight this issue, the present study … estimates the dynamics of the implicit inflation target in the euro zone over the period 1970Q1-2004Q4. Based on a small …

The "New Keynesian" Phillips Curve (NKPC) states that inflation has a purely forward-looking dynamics. In this paper …, we test whether European and US inflation dynamics can be described by this model. For this purpose, we estimate hybrid … and leads of inflation, in contrast to the prediction of the core model. Second, the fraction of backward-looking price …

assumption improves the fit of the inflation equation. Third, this assumption is necessary for getting an important reduction of …