In this paper we report results on inflation persistence using 79 inflation series covering the EU countries, the euro … area and the US for five different inflation variables. The picture that emerges is one of moderate inflation persistence … across the board. In particular we find euro area inflation persistence to be broadly in line with US inflation persistence …

Inflation in the euro area has been falling since mid-2013, turned negative at the end of 2014 and remained below … by means of sign restrictions, to inflation and economic activity. Shocks to oil supply do not tell the full story about … contractionary. A country analysis confirms that the negative effects of oil supply and monetary policy shocks on inflation was …

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 in the euro area. Compared …

striking negative correlation between the evolution of the long-run coefficient on inflation in the monetary rule and the … evolution of the persistence and predictability of inflation relative to a trend component. Using a standard sticky-price model …, we show that a more aggressive policy stance towards inflation causes a decline in inflation predictability, providing a …

Following Fuhrer and Moore (1995), several authors have proposed alternative mechanisms to 'hardwire' inflation … European Monetary Union, of inflation-targeting countries, and of the new Swiss monetary policy regime, I show that, in the …), the parameters encoding the 'intrinsic' component of inflation persistence are not invariant across monetary policy …

find a higher average forecast accuracy of models that incorporate information on inflation expectations from the ECB’s SPF … inflation expectations are typically not large but significant in some periods. Both short- and long-term expectations provide … (not always for the countries). The analysis is undertaken for headline inflation and inflation excluding energy and food …

changes in inflation and the output gap. On this basis, we assess the trade-off between economic stabilization and debt …

non-atomistic unions. It is shown that concentrated labor markets call for more aggressive inflation stabilization. This …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

banks given their specific institutional, economic and financial environment. We take the case of the Bank of Russia in … for inflation and for real economic development …