We analyze the determinants of the inflation trends in ten Southeast European (SEE) countries. Global cost …-related factors and euro area (EA) inflation developments play an important role in explaining inflation dynamics in SEE countries … exchange to euro area market appear to be susceptible to inflation spillovers from the euro area. Moreover, nominal effective …

This paper builds up a simple New Keynesian model and revisits the relationship between unemployment and in ation in … beyond the tradeoff between the first moments of unemployment and infl ation provided by the short-run Phillips curve. Higher … volatility in ifln ation raises unemployment at low-frequency. Increased volatility in infl ation makes nominal wages more …

new theoretical issues emerging under NIR policies? This article builds a model to show that (i) money injections can … keep the nominal interest rate as low as possible by purchasing government bonds with money; and (iii) the conventional …

We develop a N-sector business cycle network model a la Long and Plosser (1983), featuring heterogenous money demand a … la Bewley (1980) and Lucas (1980). Despite incomplete markets and a well-defined distribution of real money balances … endogenous distribution of money demand on cross-sector allocations of commodities. (ii) Despite flexible prices, money is …

unemployment and maximum employment approaches; and the unfilled vacancies perspective. Furthermore, we provide and discuss …

a disequilibrium macroeconomic model where agents' expectations on future capital gains affect aggregate demand. Agents …