sharp rise in inflation. Applied to Germany and the euro area, the model suggests that the surge in inflation has mainly … been caused by commodity price shocks and supply bottlenecks, rather than shortages in the labour market. Inflation … future inflation rates. However, this prediction is based on the assumption that there will be no commodity price shocks and …

When referring to the inflation trends over the last decade, economists speak of "puzzles": a “missing disinflation …” puzzle in the aftermath of the Great Recession, and a ”missing inflation” one in the years of recovery to nowadays. To this, a … literature through the development of a newly specified Phillips Curve model, in which the inflation-expectation component is …

the most important source of inflation variability in the euro area. This article shows that an empirically plausible …

model, covering a panel of EU countries, and derives the implied long-run inflation-unemployment tradeoff. Our results …

The recent spike in inflation, unprecedented in the history of the Economic and Monetary Union (EMU), has had major … effects of high inflation on fiscal accounts in the euro area. Relying on the wealth of expertise in the Eurosystem - within … overall positive effects of inflation on fiscal accounts. Indeed, the simulations point to adverse effects from the recent …

commodity prices ; inflation ; non-linearities ; pass-through …

of the New Keynesian Phillips Curve (NKPC) is that they fail to capture the extent of inflation inertia in the data. In …

This paper tests whether the proposition that globalisation has led to greater sensitivity of domestic inflation to the … power for domestic consumer price inflation in the euro area. Based on these findings, the prescription that central banks …

of the New Keynesian Phillips Curve (NKPC) is that they fail to capture the extent of inflation inertia in the data. In …