actually be welfare reducing if the trade union has an exogenously given preference against inflation. We reframe this …

actually be welfare reducing if the trade union has an exogenously given preference against inflation. We reframe this …

actually be welfare reducing if the trade union has an exogenously given preference against inflation. We reframe this …

actually be welfare reducing if the trade union has an exogenously given preference against inflation. We reframe this …

inflation and is shown to be Granger-causal for euro area inflation in an out-of-sample forecasting exercise. In part, this … contrast, the influence of Japanese and euro area excess liquidity on euro area inflation is more limited. …

-causes inflation in the euro area. Based on data from 1970 to 2006 and forecasting horizons of up to 12 quarters, there is surprisingly … power of money growth for inflation is substantially lower in more recent sample periods compared to the 1970s and 1980s …. This cautions against using money-based inflation models anchored in very long samples for policy advice. …

inflation and is shown to be Granger-causal for euro area inflation in an out-of-sample forecasting exercise. In part, this … contrast, the influence of Japanese and euro area excess liquidity on euro area inflation is more limited. -- Global excess … liquidity ; euro area ; inflation ; monetary policy ; interest rate channel ; forecasting accuracy. …

money in forecasting euro-area inflation. We compare the predictive performance within and among various classes of … contains relevant information for inflation in some model classes. Money-based New Keynesian DSGE models and VARs incorporating … in an all-out horserace. -- Information content of money ; inflation forecasting ; New Keynesian model ; DSGE model ; P …

We assess the bivariate relation between money growth and inflation in the euro area and the United States using hybrid … statistically unstable across time in both regions. The effect of money growth on inflation weakened notably after the 1980s before … maximum impact of money growth on inflation is increasing in the trend level of inflation. These results caution against …