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Downward nominal wage rigidity and the long-run Philips Curve

Coenen, Günter - 2003

the determination of inflation and output in the euro area and the existence of a non-vertical long-run Phillips curve …

Persistent link: https://www.econbiz.de/10009635901

New Keynesian Phillips Curves

McAdam, Peter; Willman, Alpo - 2003

Using euro-area data, we re-examine the empirical success of New Keynesian Phillips Curves (NKPCs). The nature of our re-evaluation relies on the actual empirical underpinnings of such estimates: we find existing estimates un-robust and u0096 given that key parameters are generally calibrated...

Persistent link: https://www.econbiz.de/10009635912

Consumer inflation expectations in Poland

£yziak, Tomasz - 2003

Inflation expectations constitute a subject of particular contemporary interest to central banks, especially those … pursuing a monetary policy based on a strategy of direct inflation targeting. Macroeconomic theory indicates that the … to properties of inflation expectations. Qualitative data on inflation expectations, as obtained from surveys, can be …

Persistent link: https://www.econbiz.de/10009635882

15. CEIES-Seminar : Inflation in Europa u0097 Unterschiedliche Messkonzepte und deren Nutzer ; Berlin, 4. und 5. Oktober 2001

Europäische Kommission / Statistisches Amt - 2002

Persistent link: https://www.econbiz.de/10009637069

Bank mergers, competition and liquidity

Carletti, Elena; Hartmann, Philipp; Spagnolo, Giancarlo - 2003

We model the impact of bank mergers on loan competition, banks' reserve holdings and aggregate liquidity. Banks compete in a differentiated loan market, hold reserves against liquidity shocks, and refinance in the interbank market. A merger creates an internal money market that induces financial...

Persistent link: https://www.econbiz.de/10009635892

Bond market inflation expectations and longer-term trends in broad monetary growth and inflation in industrial countries, 1880 - 2001

Dewald, William G. - 2003

u0093Bond Market Inflation Expectation and Longer-term Trends in Broad Monetary Growth and Inflation in Industrial … in inflation that were matched by growth rates in M2 and nominal GDP but not real GDP in each country and cross …-country averages. Inflationary expectations as estimated by bond rates less real growth trends indicated little inflation expectation …

Persistent link: https://www.econbiz.de/10009635923

Inflation, factor substitution and growth

Klump, Rainer - 2003

Recent empirical studies on the inflation-growth-relationship underline that inflation has negative growth effects … influence of inflation on factor substitution. It turns out that already in a simple neoclassical monetary growth model this … potential positive effects of inflation along the convergence path. In a more general perspective the paper contributes to a …

Persistent link: https://www.econbiz.de/10009635886

Forecasting euro area inflation

Hubrich, Kirstin - 2003

Monitoring and forecasting price developments in the euro area is essential in the light of the second pillar of the ECBu0092s monetary policy strategy. This study analyses whether the forecasting accuracy of forecasting aggregate euro area inﬂation can be improved by aggregating forecasts of...

Persistent link: https://www.econbiz.de/10009635954

Inflation and relative price asymmetry

Ratfai, Attila - 2004

By placing store-level price data into bivariate Structural VAR models of inflation and relative price asymmetry, this … forecast error variance in inflation at the 12-month horizon. While the contemporaneous correlation between inflation and … relative price asymmetry is positive, idiosyncratic shocks lead to a substantial build-up in inflation only after two to five …

Persistent link: https://www.econbiz.de/10009636524

Equilibrium unemployment, job flows and inflation dynamics

Trigari, Antonella - 2004

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 …

Persistent link: https://www.econbiz.de/10009636527