inflation targeting. For each rule we distinguish between cases with zero weight on the unemployment gap and a negative response … inflation. Responding to unemployment reduces cross-country differences within the monetary union and the differences in …

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 …

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of … the model to account for the joint dynamics of output and inflation rely on its ability to explain the dynamics in the …

This paper analyses the determinants of inflation differentials and price levels across the euro area countries …. Dynamic panel estimations for the period 1999-2006 show that inflation differentials are primarily determined by cyclical … positions and inflation persistence. The persistence in inflation differentials appears to be partly explained by administered …

important determinants of inflation over the sample. We then forecast core inflation 12 quarters ahead and present its … manner, the convergence towards a sustainable path of inflation. …

inflation facts. Using a Dynamic Stochastic General Equilibrium model with Markov-switching policy rules, we identify three …

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 …

policy is not constrained by the ZLB. The neutral rate - the level of the policy rate consistent with stable inflation and …