root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors … descriptive statistics. Subsequently, we set out the possible mismatches between price level convergence and inflation rates … factors on observed inflation rates first in an accounting framework and then by relying on panel estimations. Our estimation …

potential output. A positive deviation of inflation from its trend of 1% is estimated to have triggered approximately a 1 …

-maker to adopt inflation targeting over a strict exchange rate targeting regime. Full credibility is not a precondition, but …We show that the credibility gain from permanently committing to a fixed exchange rate by joining the European Monetary … full credibility. Using a DSGE model, this paper shows that when the central bank enjoys only limited credibility a pegged …

monetary policy regimes towards inflation targeting, expected monetary policy has become more important as a determinant of …

the inflation target and to communicate information about the output target and supply shocks with perceived ambiguity. In …

Ten years of inflation targeting worldwide provide valuable lessons. Inflation targeters (ITers) have been very … successful in meeting their inflation targets (ITs). Industrial output sacrifice during inflation stabilization and industrial … output volatility has frequently been lowered after IT adoption. ITers have consistently reduced inflation forecast errors …