estate, as well as the costs of public goods to develop alternative inflation measures in Germany since the introduction of … the euro. Real economic growth as well as median wage developments are reexamined in light of the alternative inflation …

Several empirical studies have suggested that the Bundesbank has pursued inflation targets rather than monetary targets …, the significance of this coefficient drops to 10 percent. By contrast, deviations of the inflation rate from the inflation …. This result holds regardless of whether the lagged or the currently expected inflation rate is employed. The results are …

Part III of the special Economic Policy Review volume on inflation targeting …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

imprint of the ECB’S policy makers differ, the ECB’s institutional framework ensures that current inflation will not evolve …

In this paper we present supporting evidence of the existence of heterogeneity in inflation dynamics across euro area … significant inertial (backward looking) behavior in inflation in four of them, while inflation in Germany has a dominant forward … looking component. We then present an optimizing agent model for the area emphasizing the heterogeneity in inflation …