price stability as one of the pre-conditions for joining the Economic and Monetary Union (EMU) and adopting the euro. This … paper examines the distribution dynamics of inflation rates in ten EU members from CEE relative to the EMU accession … benchmark inflation over the period 1990-2009. In contrast to previous studies, we use nonparametric methods to test for …

related redistributive effects associated with relative price changes. The degree of the exchange rate pass-through to … domestic prices reveals its role as the external price shocks absorber especially in the situation when the leading path of … rate shifts induced by sudden external price shocks are associated with changes in the relative competitiveness among …

This paper develops a Bayesian VAR model to identify three structural shocks driving the European gas market: demand …, supply and inventory shocks. We document how gas price fluctuations have a heterogeneous pass-through to euro area prices … through to all components of euro area inflation - producer prices, wages and core inflation, which has implications for …

ratio means a large loss of gross domestic product (GDP) or employment for a given reduction in inflation. In order to … estimate the cost of adjustments in inflation rates by the sacrifice ratio, we apply, firstly, a structural vector … reduction in inflation of one percentage point. In some cases, these estimates deliver negative sacrifice ratios. …

ratio means a large loss of gross domestic product (GDP) or employment for a given reduction in inflation. In order to … estimate the cost of adjustments in inflation rates by the sacrifice ratio, we apply, firstly, a Structural Vector …

ratio means a large loss of gross domestic product (GDP) or employment for a given reduction in inflation. In order to … estimate the cost of adjustments in inflation rates by the sacrifice ratio, we apply, firstly, a structural vector … reduction in inflation of one percentage point. In some cases, these estimates deliver negative sacrifice ratios. …

ratio means a large loss of gross domestic product (GDP) or employment for a given reduction in inflation. In order to … estimate the cost of adjustments in inflation rates by the sacrifice ratio, we apply, firstly, a structural vector … reduction in inflation of one percentage point. In some cases, these estimates deliver negative sacrifice ratios. …

We document the presence of sizable distributional effects from unexpected price level movements in the Euro Area (EA … net winner of unexpected price level increases, with Italy, Greece, Portugal and Spain being the biggest beneficiaries …, and Belgium and Malta being the largest losers. Governments are net winners of inflation, while the household (HH) sector …

We document the presence of sizable distributional effects from unexpected price level movements in the Euro Area (EA … net winner of unexpected price level increases, with Italy, Greece, Portugal and Spain being the biggest beneficiaries …, and Belgium and Malta being the largest losers. Governments are net winners of inflation, while the household (HH) sector …

Competitiveness adjustment in struggling southern euro-area members requires persistently lower inflation than in major … trading partners, but low inflation worsens public debt sustainability. When average euro-area inflation undershoots the two … percent target, the conflict between intra-euro relative price adjustment and debt sustainability is more severe. In our …