, 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 …

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 …

) with a special focus on persistence of real wages, wage and price inflation. The analysis is conducted within a structural … model, as well as the cointegrating properties of the estimated system. Overall, in the long run, wage and price inflation …

estimates for inflation forecasting both in the short term (one-quarter and one-year ahead) and the medium term (two-year and … measure appears superior to all others in all respects. - Output gap ; real-time data ; euro area ; inflation forecasts ; real …

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

We investigate co-movements and heterogeneity in inflation dynamics of different regions within and across euro area … countries using a novel disaggregate dataset to improve the understanding of inflation differentials in the European Monetary … Union. We employ a model where regional inflation dynamics are explained by common euro area and country specific factors as …

We compare supermarket price setting in the US and the euro area and assess its impact on food inflation. We introduce … flexibility of supermarket inflation in the US relative to the euro area. We argue that the driving force behind both factors is … by a mildly state-dependent price-setting model, and they jointly explain over a third of the difference in food-inflation …

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 …