adjustment rule, under alternative inflation targets, in terms of output losses in a macroeconomic model, using European Union … credibility, and that a positive inflation target, as opposed to zero inflation, leads to higher and less volatile output. These … countries supports country-specific flexible inflation targeting …

This study examines whether central banks can combat inflation that is caused by rising energy prices. By using a high …

estimations, that the ECB has been either more averse to inflation above 2% ceiling or that the de facto inflation aim has been … considerably below 2%. Our results suggest further that an inflation aim of 2% combined with asymmetry is a plausible specification …

We tackle two questions in this paper: In the sovereign debt crisis, what moves the euro area inflation outlook and has … the firm anchoring of medium to long-term inflation expectations been touched? Deriving densities from a new data set on … options on the euro area harmonized index of consumer prices provides us with the full distribution of inflation expectations …

consistent with the official monetary policy. Second, we seek to shed light on the inflation process of these countries. To this … end, we carry out an estimation of an open economy Philips curve (PC). Our main finding is that inflation rates were not … monetary arrangements for price stability. The analysis of the conditional inflation variance obtained from GARCH estimation of …

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 …

This paper reports a two-stage analysis of inflation persistence using monthly data from 11 IT countries and, for … comparison, the US, a non IT country with a history of credible monetary policy. First, we estimate inflation persistence in a … inflation persistence. We use the sequences of estimated persistence measures from the first stage as dependent variables in the …

We tackle two questions in this paper: In the sovereign debt crisis, what moves the euro area inflation outlook and has … the firm anchoring of medium to long-term inflation expectations been touched? Deriving densities from a new data set on … options on the euro area harmonized index of consumer prices provides us with the full distribution of inflation expectations …

a rationale for the practice of inflation zone targeting. We show that the presence of either zone-quadratic preferences … or a zone-linear relationship between inflation and economic activity provides strong incentives to deviate from … structure and relative preference towards economic stability in determining the width of the implied targeted inflation zone …

The rise in inflation in 2021-22 sparked a growing literature and debate over the causes of the surge as well as the … near- and medium-term path for inflation. This review offers three key messages. First, the exceptional nature of shocks … resulting from the COVID-19 pandemic and geopolitical events drove the surge in inflation and the initial underestimation by …