aktuellen Preisentwicklungen bei einer Reihe von Lebensmitteln haben indes nur geringe Auswirkungen auf die Inflation, und auch …

We analyse the adjustment of retail and services prices in a period of low inflation, using a set of individual price …

inflation series of the euro area CPI translates into the slow adjustment of euro area aggregate inflation. We first estimate a … dynamic factor model for 404 inflation sub-indices of the euro area CPI. This allows to decompose the dynamics of inflation … the overall variance of the 404 disaggregate inflation series, is the main driver of aggregate dynamics. In addition, the …

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 …

We develop a time-varying transition probabilities Markov Switching model in which inflation is characterised by two … regimes (high and low inflation). Using Bayesian techniques, we apply the model to the euro area, Germany, the US, the UK and … switches between inflation regimes. Thus money growth provides an important early warning indicator for risks to price …

inflation convergence using different approaches, namely panel unit root tests, cointegration tests and error-correction models …

In this paper we argue that future inflation in an economy depends on the way people perceive current inflation, their … inflation sentiment. We construct some simple measures of inflation sentiment which capture whether price acceleration is shared … by many components of the CPI basket. In a comparative analysis of the forecasting power of the different inflation …

This paper empirically compares sticky-price and sticky-information Phillips curves considering inflation dynamics in … moments of inflation. Under baseline calibrations, the two models perform similarly in almost all countries. Under estimated … unconditional moments of inflation dynamics better while sticky information is more successful in matching co-movement of inflation …