-oil import price shocks to euro area inflation at different stages of distribution (import prices, producer prices and consumer … large fraction of the variance in all price indices. They seem to have contributed largely to inflation in the euro area …

perspective, for both individual countries and the euro area as a whole. Analysis firstly involves the estimation of PTM effects … higher than one half. The results from illustrative simulations suggest that the increase in euro-area inflation during the …

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 …

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 …

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 …

In order to explain the joint fluctuations of output, inflation and the labor market, this paper first develops a … application of the minimum distance estimation. The estimated model can explain the cyclical behavior of employment, hours per … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of …

In the paper we propose a new methodological approach to core in- flation estimation, based on a frequency domain … principal components estimator, suited to estimate systems of fractionally cointegrated processes. The proposed core inflation … measure is the scaled common persistent factor in inflation and excess nominal money growth and bears the interpretation of …

Equilibrium correction models of the price level are often used to model inflation. Such models assume that the long …