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 …

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 …

We study the impact of the COVID-19 pandemic on euro area inflation and how it compares to the experiences of other …-output linkages, affecting both trade and inflation; (2) inflation can be higher under sector-specific labor shortages relative to a … domestic aggregate demand shocks in explaining euro area inflation over 2020-21; and (4) international trade did not respond to …

The recent spike in inflation, unprecedented in the history of the Economic and Monetary Union (EMU), has had major … effects of high inflation on fiscal accounts in the euro area. Relying on the wealth of expertise in the Eurosystem - within … overall positive effects of inflation on fiscal accounts. Indeed, the simulations point to adverse effects from the recent …

commodity prices ; inflation ; non-linearities ; pass-through …

stability has been fostered by improved monetary policy and by associated changes in the behaviour of inflation, which has …

In this paper, we use a SVAR model in order to study the asymmetry of growth and inflation developments in the acceding … growth or inflation divergence, rather than the distinct way in which acceding countries react to euro area shocks. But … responsible for inflation asymmetry. Hence, a low asymmetry in terms of growth does not necessarily imply a low asymmetry in terms …

This paper tests whether the proposition that globalisation has led to greater sensitivity of domestic inflation to the … power for domestic consumer price inflation in the euro area. Based on these findings, the prescription that central banks …

In this paper, we use a SVAR model in order to study the asymmetry of growth and inflation developments in the acceding … growth or inflation divergence, rather than the distinct way in which acceding countries react to euro area shocks. But … responsible for inflation asymmetry. Hence, a low asymmetry in terms of growth does not necessarily imply a low asymmetry in terms …