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

affect medium-term inflation, the primary objective of monetary policy. Using panel local projections for 48 advanced and … inflation in the near term, especially in EMEs. But over the medium term, the impact across the various price indices tends to …

explores implications for growth, innovation, inflation, financial markets, fiscal policy, and several socio-economic outcomes …, adjustment in energy markets, increased inflation variability, financial markets stress, intensified innovation, increased …

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 …

Time series estimates of inflation persistence incur an upward bias if shifts in the inflation target of the central … bank remain unaccounted for. Using a structural time series approach we measure different sorts of inflation persistence … allowing for an unobserved time-varying inflation target. Unobserved components are identified using Kalman filtering and …

In most OECD countries, we cannot reject up to three breaks in the mean of inflation: one break in the late 1960's … phenomena. We also show that ignoring breaks in the mean of inflation clearly lead to overrate inflation persistence in standard … bi-variate models of inflation. The response of inflation to shocks in these models is markedly faster with breaks than …

In this paper we explore the link between the intensity of product market competition and inflation rates across EU … countries and sectors. We consider long-term averages of inflation rates in order to remove the cyclical behavior of inflation … product market competition, as proxied by the level of mark-up in particular, is an important driver of inflation …

This paper uses disaggregated CPI time series to show that a break in the mean of French inflation occurred in the mid … mean break, both aggregate and sectoral inflation persistence are stable and low, with the unit root lying far in the tail … price changes (at the firm level) appears positively related with inflation persistence (at the aggregate level) …

This paper studies the short run correlation of inflation and money growth. We study whether a model of learning does … better or worse than a model of rational expectations, and we focus our study on countries of high inflation. We take the …

This paper studies the role of inflation in the determination of financial asset prices. We estimate an Intertemporal … Capital Asset Pricing Model à la Merton (1973), with inflation as an independent source of risk, for France and Germany. Our … the convergence process towards the single currency might have affected the role of inflation in the pricing of financial …