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 …

equilibrium values having explanatory power for subsequent consumer price inflation …

and at the beginning of a quarter, on various conditional frequencies of adjustment, inflation and its variability …

We propose a new core inflation measure for the Euro area which places the emphasis on the more lasting, i …. Unlike headline inflation, our baseline core inflation measure is highly correlated with ECB monetary policy decisions, which …

In most OECD countries, we cannot reject up to three breaks in the mean of inflation: one break in the late 1960’s … phenomena. We also show that ignoring breaks in the mean of inflation clearly lead to overrate inflation persistence in standard … bi-variate models of inflation. The response of inflation to shocks in these models is markedly faster with breaks than …

equilibrium values having explanatory power for subsequent consumer price inflation. …

Time series estimates of inflation persistence incur an upward bias if shifts in the inflation target of the central … bank remain unaccounted for. Using a structural time series approach we measure different sorts of inflation persistence … allowing for an unobserved time-varying inflation target. Unobserved components are identified using Kalman filtering and …