macroeconomic factors that drive markets (growth and inflation in the euro area and the US respectively and global risk appetite …

approaches to inflation. In this paper we explore some of the key contributions to the macroeconomic literature which appeared … assimilated it into their macroeconomic models. The gradual emergence of stagflation and the progressive breakdown of the Phillips … attacked the Phillips Curve but their criticisms sought to modify, not nullify. The idea that inflation and unemployment were …

This paper shows that inflation in industrialized countries is largely a global phenomenon. First, inflations of (22 … associated to Global Inflation is not only due to the trend components of inflation (up from 1960 to 1980 and down thereafter …) but also to fluctuations at business cycle frequencies. Second, Global Inflation is, consistently with standard models of …