Can the aging process affect inflation? The prolonged decline of fertility and mortality rates induces a persistent … downward pressure on the natural interest rate. If this development is not internalized by the monetary policy rule, inflation … inflation found in the data for the euro area. In this model, continuing to follow the same rule makes inflation to be on a …

below the ECB’s inflation target. Therefore, a readjustment of the infl ation target seems unjustified. Furthermore, as the … ECB can expect inflation to return to its target, it possibly can accelerate tapering its unconventional monetary policy …

financial variables in the monetary policy rule can bring macroeconomic benefits in terms of lower volatility of inflation and … implied volatilities of inflation and output. Second, the usefulness of the augmented monetary policy rule is the most …

heterogeneous in their economic development, including their inflation rates. This paper combines a New Keynesian model and a neural … weighted average of the inflation rates within the European Monetary Union (EMU) or reacted more strongly to the inflation rate … classify historical EMU data. Our findings suggest disproportional emphasis on the inflation rates experienced by southern EMU …

heterogeneous in their economic development, including their inflation rates. This paper combines a New Keynesian model and a neural … weighted average of the inflation rates within the European Monetary Union (EMU) or reacted more strongly to the inflation rate … generally classify historical EMU data, and to determine the exact weight on the inflation rate of EMU members in each quarter …