dollar shock, generalised impulse response function shocks and a global shock to risk aversion. Our results show that the way … depends crucially on the nature of the shock. This result is noteworthy given the apparent divergence in competitiveness …

depending on the underlying shock driving them. The pass-through is stronger and more persistent when gas prices are driven by … through to all components of euro area inflation - producer prices, wages and core inflation, which has implications for …

This paper assesses the impact of weather shocks on inflation components in the four largest euro area economies. We … combine high-frequency weather data with monthly data on inflation and output growth within a set of Bayesian Vector … Autoregressions which explicitly considers the seasonal dependence of the shock. Results suggest the presence of significant country …

We measure the heterogeneous welfare effects of the recent inflation surge across households in the Euro Area. A simple … framework illustrating the numerous channels of the transmission mechanism of surprise inflation to household welfare guides our …; (ii) this inflation episode resembles an age-dependent tax, with the elderly losing up to 20%, and roughly half of the 25 …

generating the pre-crisis productivity slowdown, while starting from the Great Recession a shock to liquidity demand is …This paper analyses the endogeneity of euro area total factor productivity and its role in business cycle amplification … by estimating a medium-scale DSGE model with endogenous productivity mechanism on euro area data. In this framework …