ingredient to model. In fact, I found that the estimated premium is a very powerful predictor of inflation. It overcomes, in … ; Euro Area External Finance Premium ; Financial Accelerator ; Bayesian Estimation ; Inflation …

component explains much less of the variation in sectoral regional inflation rates and exhibits much less volatility than … and Sectoral Inflation ; Common Factor Models …

ingredient to model. In fact, I found that the estimated premium is a very powerful predictor of inflation. It overcomes, in …

This paper presents evidence on the lag between monetary policy actions and the response of inflation in the euro area … regime thereafter. Results based on alternative definitions of inflation persistence support these findings, although, they … suggest that a drop in German inflation persistence and a shift in the mean of inflation - particularly in Italy and France …

inflation and output play an important role. In this paper we illustrate how modern sticky-price dynamic stochastic general … distribution of the forecast, as well as various inflation risk measures that have been proposed in the literature. Finally, the …

forces. On the one side deviations from zero inflation allow the policy maker to smooth inefficient employment fluctuations … inflation targeting. Overall we find that the Ramsey planner deviates from full price stability and that an optimal rule targets … inflation the real economic activity alongside inflation. -- Optimal monetary policy ; labour market unionization ; threat …

& Monetary Union (EMU). The model includes both nominal and real frictions that have proven to be important in matching business …