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 …

The paper estimates inflation persistence in Greece from 1975 to 2003, a period of high variation in inflation and … coefficient (RC) modelling, are employed to estimate inflation persistence. The empirical results from all the procedures suggest … that inflation persistence was high during the inflationary period and the first six years of the disinflationary period …

situation poses to price stability. We propose to regard the central banker as a risk manager who aims to contain inflation …

2006. It turns out that real-time estimates of the output gap are characterised by a high degree of uncertainty, much … higher than that resulting from model and estimation uncertainty only. In particular, the evidence indicates that both the … magnitude and the sign of the real-time estimates of the euro area output gap are very uncertain. The uncertainty is mostly due …

This paper proposes a methodology to nowcast and forecast inflation using data with sampling frequency higher than … accurate estimates of inflation for the current and followings months. In particular, this paper uses the Weekly Oil Bulletin …