Artículo de revista ; This article analyses the link between the changes in and the drivers of inflation in a broad … range of advanced economies, with special emphasis on those of the euro area. Inflation rates are seen to be highly … common monetary policy. Also, the comovement of inflation is found to be a phenomenon that tends to be more visible in the …

-heterogeneity on the response of aggregate inflation to exogenous shocks. We build up an otherwise standard DSGE model in which the … market we reproduce the main features of the distribution of firms in Spain. We then compare the inflation response to … predominate tend to deliver more muted inflation responses to exogenous shocks …

the Spanish economy. On the basis of these variables, composite indicators are calculated that proxy inflation … expectations, the degree of slack in the economy and other inflation pressures, domestic and external alike. On the information … analysed, the recent period of low inflation in the Spanish economy is estimated to have come about in a setting in which …

the relative prices of greenhouse gas-intensive goods and services, could not only push up CPI inflation but also affect … transitory effect on the level of inflation. This paper assesses empirically the effects of carbon pricing on inflation … that cap-and-trade schemes are associated with larger volatility in CPI headline inflation, while no significant effect is …

particular, standard local projections identify responses that include an effect due to the persistence of the shock, while … projections and moving average representations. In particular, the inclusion of leads of the shock in local projections allows to … proyecciones locales estándar identifi can respuestas que incluyen un efecto debido a la persistencia del shock, mientras que las …

in an economy with mostly variable-rate mortgages, an exogenous interest rate shock has larger effects on borrowers than …, differences are muted by wealth effects on labor supply and by the presence of savers. More persistent shocks, such as inflation … of collateral constraints, the optimal Taylor rule is less aggressive against inflation than in the standard sticky …

the country receiving the shock if it can conduct monetary policy independently. I also find that after country …-specific housing price shocks consumption does not only increase in the country where the shock takes place, there is an international …

tipo de shock que afecta a la economía y sus efectos sobre expectativas de política monetaria a diferentes horizontes … indicators. In the second stage, we use those indices to provide assessments of the type of aggregate shock hitting each country …