. Previous literature has highlighted the role of an economy's "structure" - such as its inflation volatility, inflation rate …, forecasts predicting how a given exchange rate movement will impact inflation at a specific point in time should take into …

appreciates in response to an asymmetric negative demand shock at the zero lower bound (ZLB) and exacerbates the adverse … macroeconomic effects. This finding requires inflation expectations to adjust counterfactually large. When modeling inflation … at the ZLB. In sharp contrast to the full information model: (i) A negative demand shock concentrated in the home country …

idiosyncratic shocks. Even when prices are flexible and inflation can costlessly act as a shock absorber to restore fiscal …

shock identification, I find that monetary policy shocks of the US relative to the euro area account for 76 percent of the …

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 …

an even limited - flexibility of the nominal exchange rates. According to the theory of Optimal Currency Areas (OCA), in …