of the New Keynesian Phillips Curve (NKPC) is that they fail to capture the extent of inflation inertia in the data. In …

of the New Keynesian Phillips Curve (NKPC) is that they fail to capture the extent of inflation inertia in the data. In …

degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation … fluctuations. Our results point primarily towards disturbances in the bargaining process as a significant contributor to inflation … important for monetary policy. -- Labor Market ; wage rigidity ; bargaining ; Bayesian estimation …

degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation … fluctuations. Our results point primarily towards disturbances in the bargaining process as a significant contributor to inflation … important for monetary policy. -- Labor Market ; wage rigidity ; bargaining ; Bayesian estimation …

degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation … fluctuations. Our results point primarily towards disturbances in the bargaining process as a significant contributor to inflation …

degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation … fluctuations. Our results point primarily towards disturbances in the bargaining process as a significant contributor to inflation …

stabilizes inflation and output. The estimation of this model, which comprises forward-looking versions of the IS and the … this simple model matches the dynamic properties of the output gap, inflation and the interest rate in EMU quite accurately …. We also perform several exercises that show the response of output, inflation and interest rates to different kinds of …

This paper analyses the response of inflation in the euro area to five macroeconomic shocks through the use of results … a TFP shock, generate marked inflation persistence. In contrast, an indirect tax and an oil price shock appear much less … persistent and a social security shock generates less inflation persistence in the majority of the countries (although some weak …