What is the effect of climate policies on inflation and economic activity? Answering this question is critical for …

expansionary policies, global inflation has been present since 2021. The change in the macroeconomic environment has led to a … that is why inflation was lower in the USA compared to the euro area. All announcements for 2023 point to the continuation …

könnten. Die Autoren des Zeitgesprächs sehen diese Gefahr nicht. Vielmehr könne ein gemäßigter Anstieg der Inflation sogar … raised the question whether such a role of the ECB must lead to higher rates of inflation. Under current recessive … macroeconomic conditions in the eurozone, the ECB’s expansionary monetary policy will not lead to higher inflation. On the contrary …

gefühlte Inflation im Euroraum bei 4,5 %, während die offiziell gemessene Inflationsrate 1 % betrug. Das könnte daran liegen … the officially measured inflation rates. For example, according to survey results, perceived inflation in the first … quarter of 2021 in the euro area was 4.5 %, while the officially measured inflation rate was 1 %. This could be due to the …

, notwithstanding that inflation in some countries tends to converge towards the euro area level. Overa11, inflation persistence has …

We develop a theoretical model that features a business cycle-dependent relation between out- put, price inflation and … inflation expectations, augmenting the model by Svensson (1997) with a nonlinear Phillips curve that reflects the rationale … pronounced convex relationship between inflation and the output gap, meaning that the coefficient in the Phillips curve on the …

Headline inflation in the euro area jumped to more than three percent in the summer after years of relatively low … inflation rates well below the target of close to but below two percent set by the ECB until July 2021. One of the main reasons … for the rise in inflation is the increase in energy prices since the beginning of 2021. However, there are further …

After 2012, inflation has been unexpectedly low across much of the developed world and economists speak of a “missing … inflation” puzzle, namely inflation was expected to be higher on the back of an ongoing recovery. This paper investigates the … causes and consequences of low inflation in the euro area after 2012 and analyses whether monetary policy has been successful …

In this paper we use a unique dataset to study how awareness of the formulation of the ECB’s inflation aim, defined as … "below, but close to, 2%", shapes the inflation expectations of a representative set of Italian firms. In particular, we show … that in the period under consideration such awareness raises firms’ inflation expectations by about 25 basis points at all …

Part of the present inflation is caused by the breakdown of globalization, in particular supply chains, part is caused … the past and in the presence. This paper attributes inflation decisively to the overwhelming money creation by the …