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 …

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 …

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 …

these trends requires targeting a significantly positive inflation target. Relative price trends shift the optimal inflation … account in the present paper may push up the optimal inflation targets further. The welfare costs associated with targeting … zero inflation turn out to be substantial and range between 2.1% and 4.5% of consumption in present-value terms …

these trends requires targeting a significantly positive inflation target. Relative price trends shift the optimal inflation … account in the present paper may push up the optimal inflation targets further. The welfare costs associated with targeting … zero inflation turn out to be substantial and range between 2.1% and 4.5% of consumption in present-value terms …

these trends requires targeting a significantly positive inflation target. Relative price trends shift the optimal in ation … account in the present paper may push up the optimal inflation targets further. The welfare costs associated with targeting … zero inflation turn out to be substantial and range between 2.1% and 4.5% of consumption in present-value terms …

these trends requires targeting a significantly positive inflation target. Relative price trends shift the optimal inflation … considerations not taken into account in the present paper may push up the optimal inflation targets further. The welfare costs … associated with targeting zero inflation turn out to be substantial and range between 2.1 and 4.5 per cent of consumption in …

. Der Harmonisierte Verbraucherpreisindex (HVPI) von Eurostat, auf den die EZB ihre Geldpolitik ausrichtet, berücksichtigt … officially measured inflation rates and highlights the weaknesses of the ECB’s envisioned approach. …