inflation and is shown to be Granger-causal for euro area inflation in an out-of-sample forecasting exercise. In part, this … contrast, the influence of Japanese and euro area excess liquidity on euro area inflation is more limited. …

weaker linkages bewteen inflation and real credit growth within Europe. While the euro area is the dominant source of …

This paper discusses comovement between inflation and output in the euro area. The strength of the comovement may not … frequency, the output and core inflation comovement is high and stable, and that inflation lags the cycle in output with roughly … half of its variance. The strong relationship of output and inflation hints at the importance of demand shocks for the euro …

The welfare state was created after 1950 with counterproductive mechanisms and this caused high inflation and high …

purchase bonds, including euro area government bonds. The purchases are intended to anchor the rate of inflation and inflation … development of inflation in the euro area and outlines the main reasons for the recent decline in prices. It also discusses the …