To gauge the breadth of current inflation and prospects for inflation returning to target, we consider disaggregated measures of CPI infl ation to evaluate trends and then consider diff erent scenarios for the realisation for wages and prices.

This paper examines the real return that households in large euro area countries achieved with their financial portfolios since the onset of the euro. A newly compiled dataset shows that, contrary to widespread belief, overall real returns did not decline in the low interest environment. Indeed...

Global factors are becoming increasingly important as a cause of international capital flows. It is nearly impossible for some countries to protect themselves from outside influences on their financial markets. This paper investigates the extent to which various global factors such as stock...

Event studies represent an increasingly popular method to evaluate the welfare effects of economic policy decisions. The basic idea is that stock market reactions to the announcement of policy decisions contain superior information about the welfare effects of these decisions. This paper...