This paper studies the role of global factors in causing common movements in consumer price inflation, with particular … collected from national and international sources. Global factors explain a large share of the variance of national inflation …

cross-country differences in the mismatch of perceived and actual inflation in the aftermath of the cash changeover are …

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 …

prices with respect to the euro area: productivity growth and increased trade openness. Productivity growth can have a … productivity growth a positive one on price level convergence with respect to the euro area …

This paper studies how disasters affect consumer price inflation, one of the main remaining gaps in our understanding … type of disasters, particularly when considering inflation sub-indices. Storms increase food price inflation in the near … term, although the effect dissipates within a year. Floods also typically have a short-run impact on inflation. Earthquakes …

Does an inflation conservative central bank agrave; la Rogoff (1985) remain desirable in a setting with endogenous … spending. The optimal inflation rate internalizing this distortion is positive, but lack of monetary commitment robustly … generates too much inflation. A conservative monetary authority thus remains desirable. Exclusive focus on inflation by the …

All else equal, higher wages translate into higher inflation. More rigid wages imply a weaker response of inflation to …

macroeconomic forecasts. We produce real time out-of-sample forecasts for inflation, the unemployment rate and the interest rate … predictions for the three variables. In particular for inflation the TV-VAR outperforms, in terms of mean square forecast error … also shown to hold over the most recent period in which it has been hard to forecast inflation …

Estimates of the welfare costs of inflation based on Bailey (1956) are typically computed using aggregate money demand … models. Yet, the behavior of money demand may vary across sectors. Thus, the impact on welfare of inflation regime shifts may … Great Inflation to the present regime of low and stable inflation. For this purpose, we estimate different functional …