situation poses to price stability. We propose to regard the central banker as a risk manager who aims to contain inflation … forecast the risks of worldwide deflation for horizons of up to two years. Although recently fears of worldwide deflation have … increased, we find that, as of September 2002, with the exception of Japan there is no evidence of substantial deflation risks …

This paper analyses the determinants of inflation differentials and price levels across the euro area countries …. Dynamic panel estimations for the period 1999-2006 show that inflation differentials are primarily determined by cyclical … positions and inflation persistence. The persistence in inflation differentials appears to be partly explained by administered …

This paper studies euro changeover-related inflation using disaggregated price level data. The difference … segments. Changeover-related inflation was higher for products that were relatively cheaper than the euro area average …

This paper analyses the determinants of inflation differentials and price levels across the euro area countries …. Dynamic panel estimations for the period 1999-2006 show that inflation differentials are primarily determined by cyclical … positions and inflation persistence. The persistence in inflation differentials appears to be partly explained by administered …

is derived from policy-makers’ preferences about inflation outcomes, we first show that downside risks to price stability … in the risk balance throughout our evaluation period because of the implied amplification of deflation risks. We then … future inflation can provide insurance against the materialisation of such upside risks. …

the Generalized Dynamic Factor model to develop a set of core inflation indicators that, combining national data with area …

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of … the model to account for the joint dynamics of output and inflation rely on its ability to explain the dynamics in the …

This paper uses disaggregated CPI time series to show that a break in the mean of French inflation occurred in the mid … mean break, both aggregate and sectoral inflation persistence are stable and low, with the unit root lying far in the tail … price changes (at the firm level) appears positively related with inflation persistence (at the aggregate level). …