accuracy for euro area real GDP growth and HICP inflation. We consider BVAR averaging, Bayesian factor augmented VARs (BFAVARs … optimally does not improve forecast accuracy; (e) all variants except the large BVAR tend to be well calibrated for inflation …

In this paper we analyse the short- and long-run relationship between employment growth, inflation and output growth in … growth, inflation and output growth with bidirectional causality between employment growth and inflation as well as output …

conclusions that arise from the model. In the new model, the level and the variability of inflation is higher than in the Calvo … model with no selection effect. Attempting to lower inflation's variability results in a significant increase output …'s variability, without changing inflation's variability much …

While the financial protection measures enacted by the ECB and the community of Eurozone members have calmed financial … markets, they have left the competitiveness problem of the Eurozone's southern countries and France unresolved. The paper … compares price inflation before the crisis with the necessary and actual price cuts that have taken place since the outbreak of …

interaction of the two elements leads to an inflation bias that is independent of the standard time-inconsistency bias. Secondly … correlated with unemployment, but not with inflation in the respective countries …

In this paper we propose an alternative explanation for the nature, sources and consequences of inflation rate … catching-up and inflation differentials and offer an interpretation of the nature of this interaction. Our discussion is in … inflation rates between Member States do not necessarily have to be an equilibrium phenomenon, even if the original shock comes …