In this paper we explore the link between the intensity of product market competition and inflation rates across EU … countries and sectors. We consider long-term averages of inflation rates in order to remove the cyclical behavior of inflation … product market competition, as proxied by the level of mark-up in particular, is an important driver of inflation …

inflation and the extent of real wage rigidity but that these effects depend on the definition of reference norms (e.g. how …

inflation and the extent of real wage rigidity but that these effects depend on the definition of reference norms (e.g. how …

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 …

The response of US inflation to the high levels of spare capacity during the Great Recession of 2007-09 was rather muted … inflation, and either the closing of this gap or non-linearities in the Phillips curve could lead to a sudden pick-up in … inflation. We revisit these issues by estimating Phillips curves over 1992Q1 to 2015Q1. Our main findings suggest that a Phillips …

This paper asks whether a textbook Phillips curve can explain the behavior of core inflation in the euro area. A … critical feature of the analysis is that we measure core inflation with the weighted median of industry inflation rates, which … is less volatile than the common measure of inflation excluding food and energy prices. We find that fluctuations in core …

wage and price dynamics. Recent empirical implementations stress the idea that these models link inflation to the behavior … declining inflation and labor shares in Euro area. In this paper, we show that with realistic parameters, the canonical Calvo …

impact of EU structural funds on employment drawing on a panel dataset of 130 European NUTS regions over the time period 1999 … structural funds for an extended time horizon and examine the robustness of our results by comparing different dynamic panel …

which induce smooth inflation also dampen the adjustment of wages in response to shocks. In the search and matching … Phillips curve is that inflation is not only driven by an output gap but also by an employment gap - a feature usually …

This paper reviews recent approaches to modeling the labour market and assesses their implications for inflation … volatile inflation. Models with wage stickiness and right-to-manage bargaining or with firm-specific labour emerge as the most …