on regional and country-level inflation and real activity. For this purpose a Global VAR (GVAR) model is estimated …

This paper investigates the inflation effects of oil price expectations shocks constructed as functional shocks, i … out to investigate second-round effects on inflation through the inflation expectations channel. These are found to be … shock decomposition exercise show that inflation and inflation expectations are primarily driven by changes in the curvature …

US inflation and real activity. Further, nonlinear local projections with high-frequency instrumental variable … identification indicate that gasoline price expectations propagate gasoline price shocks to inflation even when headline inflation …

This paper examines the impact of current account balances on energy, headline, and core inflation across developed and … find that an improvement in the current account consistently leads to lower inflation, with heterogeneous effects across … inflation components, even when controlling for monetary policy. Our analysis also explores regional differences and contrasts …

with simulations. Two examples based on European unemployment and inflation series are used to illustrate the virtue of the …