patterns in economic activity and inflation following oil price shocks in the euro area. In the normal regime, oil price shocks … followed by sizeable and sustained macroeconomic fluctuations, with inflation and economic activity moving in the same … direction as the oil price. The responses of inflation expectations and wage growth point to second-round effects as a potential …

through to all components of euro area inflation - producer prices, wages and core inflation, which has implications for …

growth regime. Since the great financial crisis inflation developments have posed major puzzles to economists as inflation … paper analyses whether the wage-price pass-through may have contributed to these inflation puzzles. Applying the Threshold … or diminish the puzzle of the missing disinflation of the past two recessions suggesting that inflation should be …

higher wage flexibility would help ease the impact on real output at the expense of wider fluctuations in inflation. Finally …

adverse contributions of both shocks to HICP inflation and GDP in the first half of the sample than in the second, which …