of inflation risks. The empirical application shows that trading off monetary and macroprudential policy reduces the … overall costs related to inflation and financial instability. This can be achieved by changing the preferences of the central … bank, lengthening the monetary policy horizon and by a more flexible inflation target. Estimation results of a probit model …

This paper examines robust estimators of core inflation for Belgian historical CPI data, and for euro area Harmonised … outperform the traditional core inflation measures found in the literature. However, as traditional measures, they lag rather … than lead observed inflation. This was particularly so in the 70s and the 80s when the oil price shocks had substantial …

prices thereafter. Notwithstanding clear evidence of forward-lookingness, inflation persistence is substantial in both …

We find that regional inflation dispersion has not markedly increased since the start of EMU, although it is somewhat … higher than in other monetary unions (US and Germany), and that the distribution of member states' rates of inflation around … the euro area HICP inflation rate is characterised by a few outliers. In addition, an analysis based on economic weights …

This paper assesses the performance of core inflation measures based on the structural VAR approach. Since core or … monetary inflation is not directly observable, we develop a monetary general equilibrium model that fits real aggregated … European data and use this model to generate time series for headline as well as core inflation. For five different schemes …

This paper assesses the performance of core inflation measures based on the structural VAR approach. Since core or … monetary inflation is not directly observable, we develop a monetary general equilibrium model that fits real aggregated … European data and use this model to generate time series for headline as well as core inflation. For five different schemes …