for future inflation for the cross section of New EU Member States. This paper provides stylized facts on monetary versus … non-monetary (economic and fiscal) determinants of inflation in these countries as well as formal econometric evidence on … predicting inflation at longer (3-year) horizons. …

on output and, in particular, also on inflation in the euro area under alternative settings for monetary policy. We … that this over-proportionality is stronger for the fiscal multiplier on inflation than on output. We relate this finding to …

This paper provides a comprehensive empirical analysis of the role of discretionary fiscal policy for inflation … is difficult to find robust evidence of the fiscal policy stance or impulse impacting directly on inflation differentials …. We do find, however, support for an indirect effect of discretionary fiscal policy on inflation differentials working …

indicators in predicting euro area HICP inflation out-of-sample over the period first quarter 1999 till third quarter 2006 … ability of money-based forecasts relative to a simple random walk benchmark model was high at medium-term forecasting horizons …

This paper reviews the existing empirical evidence on the short-term impact on prices of fiscal variables and assesses … Commission and the OECD models. Overall, a broad consensus appears on the impact on prices of changes in individual government … limited impact on prices in the first year while, in contrast, changes in indirect taxes and employers' social security …

creating inflation). Finally, I show that the highest welfare level is achieved when counterfeiting is costly, or when the …

. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets. We analyze the effects on inflation … determinants of inflation (such as fiscal policy, the business cycle, and openness to international trade), and the endogeneity of … systematically and robustly associated with lower inflation. The exact form of the monetary target matters somewhat (especially for …

monetary and credit aggregates are very often selected among the top predictors of inflation, with their predictive power … and credit variables in forecasting inflation, even if their information content is diluted in a much broader pool of …