This paper decomposes the time-varying effect of exogenous exchange rate shocks on euro area countries inflation into … quarters of the past six years, especially in turning point periods. Our main results indicate that headline inflation in euro … inflation this increasing sensitivity is solely reliant on a sustained surge in the degree of comovement, for energy inflation …

, subsequently, we didn't see the inflation they predicted. We show that these puzzles disappear in a Vector Autoregressive model … much of the inflation dynamics in the 2012-2014 euro area missing inflation episode. Consequently, economists and models … that excessively focused on the global nature of inflation were liable to miss the contribution of deflationary domestic …

and food price shocks on a given set of countries. Secondly, we assess the importance of inflation linkages among … exist among regions. In addition, a considerable part of the observed headline inflation rises is attributable to foreign …

This paper shows that inflation in industrialized countries is largely a global phenomenon. First, the inflation rates … variance share that is associated with Global Inflation is not only due to the trend components of inflation (up from 1960 to …. The co-movement of inflation comes largely from common shocks. Global Inflation is a function of real developments at …

We study the convergence properties of inflation rates among the countries of the European Monetary Union over the … and multivariate unit root tests on inflation differentials, arguing that the power of the tests is considerably increased … hypothesis over the period 1980-1997. We then investigate whether the second sub-sample is characterized by stable inflation …

This paper shows that inflation in industrialized countries is largely a global phenomenon. First, inflations of (22 … associated to Global Inflation is not only due to the trend components of inflation (up from 1960 to 1980 and down thereafter …) but also to fluctuations at business cycle frequencies. Second, Global Inflation is, consistently with standard models of …

and food price shocks on a given set of countries. Secondly, we assess the importance of inflation linkages among … exist among regions. In addition, a considerable part of the observed headline inflation rises is attributable to foreign …

This paper tests whether the proposition that globalisation has led to greater sensitivity of domestic inflation to the … for domestic consumer price inflation in the euro area. Based on these findings, the prescription that central banks …