This paper shows that inflation in industrialized countries is largely a global phenomenon. First, inflations of (22 … associated to Global Inflation is not only due to the trend components of inflation (up from 1960 to 1980 and down thereafter …) but also to fluctuations at business cycle frequencies. Second, Global Inflation is, consistently with standard models of …

-term interest rates to the Bank of England’s inflation report andto macroeconomic announcements. Due to the quarterly frequency at …, the more timehas elapsed since the latest release of an inflation report, market volatility shouldincrease, the price …

non-atomistic unions. It is shown that concentrated labor markets call for more aggressive inflation stabilization. This …

This paper addresses the estimation of Phillips curve equations for the euro area while employing less stringent … assumptions on the functional correspondence between price inflation, inflation expectations and marginal costs. Expectations are … not assumed to be an unbiased predictor of actual inflation and instead derived from the European Commission’s Consumer …

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a … application of the minimum distance estimation. The estimated model can explain the cyclical behavior of employment, hours per … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

qualitative and quantitative information on subsequent inflation. The usefulness of monetary analysis is contrasted to weaknesses … in modeling monetary policy and inflation with respectively short-term interest rates and real activity measures. The … analysis sheds light on the recent change in inflation volatility and persistence as well as on the Phillips curve flattening …

situation poses to price stability. We propose to regard the central banker as a risk manager who aims to contain inflation …

the Generalized Dynamic Factor model to develop a set of core inflation indicators that, combining national data with area …