problem as insufficient demand, when it is actually a supply problem. We do this in a real model, in which inflation is not an …

We offer a novel methodology for assessing the quality of inflation reports. In contrast to the existing literature …, which mostly evaluates the formal quality of these reports, we evaluate their economic content by comparing inflation … coding of inflation reports to describe inflation factors communicated by central banks in real time. Regarding the latter …

This paper investigates various output gap measures in a simple inflation forecasting framework. Reflecting the … pressures, including a gap could improve the accuracy of autoregressive inflation forecasting. This assertion is tested in a …

While inflation differentials in a monetary union can be benign, reflecting a catch-up process, or an adjustment … domestic product and labor markets that amplify or make more persistent the impact of shocks on inflation. The paper examines … the determinants of inflation differentials in the euro area, with emphasis on the role of country specific labor and …

impact on unemployment in the short term, but that this effect rapidly disappears in the medium term in countries with … with more rigid labor market institutions. These effects are even larger for youth unemployment in the short term and long …-term unemployment in the medium term. Conversely, large upfront, or gradual but significant, comprehensive labor market policies have a …