The synchronized disinflation across Europe since end-2011 raises the question of whether non-euro area EU countries … are affected by the undershooting of the euro area inflation target. To shed light on this issue, we estimate an open …-economy, New Keynsian Phillips curve, in which we control for imported inflation. Regression results suggest that falling food and …

weaker linkages bewteen inflation and real credit growth within Europe. While the euro area is the dominant source of … countries with the advanced Europe countries. The results show strong co-movements in output growth and interest rates but … small but notable impact of CESEE countries on the rest of the Europe. …

inflation, unemployment, government deficit, and GDP growth into a single indicator. In contrast to other indexes, the EPI does …

This Selected Issues paper for South Africa presents a quantitative analysis of inflation dynamics in the country. The … inflation. Exposed to exchange rate and other shocks, the model confirms that a delayed policy response to inflation shocks … leads to persistently higher inflation rates and, subsequently, to a sharp real contraction of the economy. …

inflation-unemployment process. The results provide some evidence in favor of the Lucas critique by showing that the short …-run unemployment-inflation trade-off tends to improve in countries that are successful in providing low and stable inflation. …

relates average unemployment to average wage inflation; the curve is virtually vertical for high inflation rates but becomes …, at low inflation. Fourth, when inflation decreases, volatility of unemployment increases whereas the volatility of … inflation decreases: this implies a long-run trade-off also between the volatility of unemployment and that of wage inflation. …