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 …

and inflation (short and long-term) on the other hand. Combining both data sets, factor analysis delivers (1) an … international stock market factor, (2) a common European uncertainty factor and (3) an US-inflation uncertainty factor. -- monetary …

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 …

imposing rational expectations, direct measures, ie OECD forecasts, are used to proxy economic agents' inflation expectations … Classical and Hybrid Phillips curves. We interpret our results as indicating that the European inflation process is not purely … forwardlooking, so that inflation cannot instantaneously adjust to new information. Consequently, even allowing for possible non …

This article analyses agents’ perception of the period of low inflation in recent years, in the context of a model in … to be drawn between which portion of the low inflation phenomenon might be due to temporary factors and which might be … considered permanent. The results of the analysis for the euro area suggest that agents perceive the inflation rate’s recent …

economic agents' inflation expectations. Real marginal costs are proxied by three different measures. The results suggest that … OECD inflation forecasts perform relatively well as a proxy for inflation expectations in the euro area, since under this … approach the European inflation process can be modeled using the forward-looking New Keynesian Phillips curve. However …