Current HICP measurement practices produce an upward bias of about one-ninth of a percentage point in German inflation due to changing consumption being disregarded and the preliminary data being used in the compilation of expenditure weights. The statistical uncertainty produced by these...

The COVID-19 crisis had a major impact on the measurement of inflation around the world, as price observation in shops became impossible and some markets completely closed down. This article looks at the measures taken during the crisis in 2020 to ensure the continued compilation of the European...

Current HICP measurement practices produce an upward bias of about one-ninth of a percentage point in German inflation due to changing consumption being disregarded and the preliminary data being used in the compilation of expenditure weights. The statistical uncertainty produced by these...

We introduce a Divisia monetary aggregate for the euro area that accounts for the heterogeneity across member countries both, in terms of interest rates and the decomposition of monetary assets. In most of the euro area countries, the difference between the growth rates of the country-specific...

We present the structure and properties of an aggregate model for the European Union, consisting of 34 equations estimated on annual data aggregated over the twelve-member EU, ranging from 1960 to 1997. Estimation was performed by a two-stage procedure taking into account the possible presence...

We present the structure and properties of an aggregate model for the European Union, consisting of 34 equations estimated on annual data aggregated over the twelve-member EU, ranging from 1960 to 1997. Estimation was performed by a two-stage procedure taking into account the possible presence...

While there has been some debate over the usefulness of monetary aggregates, there has been surprisingly little discussion of the actual implications for liquidity. In this paper, we provide an approximation of the liquidity development in six Euro area countries from 2003 to 2012. We show that...