Philadelphia surveys have a large marginal impact on the nowcast of both inflation variables and real variables and this effect is …

We quantify spillovers of inflation expectations between the United States (US) and Euro Area (EA) based on break …-even inflation (BEI) rates. In contrast to previous studies, we model US and EA BEI rates jointly in a structural vector … autoregressive (SVAR) model. The SVAR approach allows to identify US and EA specific inflation expectations shocks. By modeling the …

The response of US inflation to the high levels of spare capacity during the Great Recession of 2007-09 was rather … inflation, and either the closing of this gap or non-linearities in the Phillips curve could lead to a sudden pick-up in … inflation. We revisit these issues by estimating Phillips curves over 1992Q1 to 2015Q1. Our main findings suggest that a …

Inflation in the euro area has been falling since mid-2013, turned negative at the end of 2014 and remained below … by means of sign restrictions, to inflation and economic activity. Shocks to oil supply do not tell the full story about … contractionary. A country analysis confirms that the negative effects of oil supply and monetary policy shocks on inflation was …

changes in inflation on fiscal policy. We find evidence of non-linear short-term effects of HICP inflation on the primary … an inflation turning point - beyond which its short-term (contemporaneous) impact on the primary balance starts being … the whole sample of euro area countries in 2022 (EA-19). Using an alternative measure of "inflation surprise" (available …

inflation and the extent of real wage rigidity but that these effects depend on the definition of reference norms (e.g. how … leadership (i.e. asymmetries in reference norms). -- Inflation Persistence ; Real Wage Rigidity ; Staggered Contracts ; Wage …

We introduce a dynamic panel threshold model to shed new light on the impact of inflation on long-term economic growth … industrialized countries, our results confirm the inflation targets of about 2% set by many central banks. For non …-industrialized countries, we estimate that inflation hampers growth if it exceeds 17%. Below this threshold, however, the impact of inflation …

, our main result suggests that spillovers of inflation expectations increase during times of macroeconomic stress. We … discussion about a weakening of inflation control by national central banks and speaks in favor of internationally coordinated …

inflation are co-breaking. We argue that the step-like development of inflation is in line with shocks and monetary policy that …% inflation was accomplished by introducing an inflation targeting regime. …