Our paper studies the relationship between money growth and consumer price inflation in the euro area using wavelet … analysis. Wavelet analysis allows to account for variations in the money growth-inflation relationship both across the … frequency spectrum and across time. We find evidence of strong comovements between money growth and inflation at low frequencies …

fiscal stance and inflation using crosscountry data from 1965 to 1999. In a first step, we contrast the monetary … that the low-frequency relationship between the fiscal stance and inflation is low during periods of an independent central … illustrate the mechanisms through which fiscal actions affect inflation in the long run. The findings from the DSGE model suggest …

We estimate the low-frequency relationship between fiscal deficits and inflation and pay special attention to its … suggest that the low-frequency relationship between fiscal deficits and inflation is strongly related to the conduct of … monetary policy and its interaction with fiscal policy after World War II. -- Time-Varying VAR ; Inflation ; Public Deficits …

Did the decline in inflation rates from 2012 to 2015 and the low levels of market-based inflation expectations lead to … de-anchored inflation dynamics in the euro area? This paper is the first time-varying event study to investigate the … reaction of inflation-linked swap (ILS) rates - a market-based measure of inflation expectations - to macroeconomic surprises …

We tackle two questions in this paper: In the sovereign debt crisis, what moves the euro area inflation outlook and has … the firm anchoring of medium to long-term inflation expectations been touched? Deriving densities from a new data set on … options on the euro area harmonized index of consumer prices provides us with the full distribution of inflation expectations …

We assess the effects of financial shocks on inflation, and to what extent financial shocks can account for the … shocks through sign restrictions. Our main finding is that expansionary financial shocks temporarily lower inflation. This … during the latest financial crisis. We then explore the transmission channels of financial shocks relevant for inflation, and …