, inflation and unemployment, we detect a wrong sign in the response of inflation to contractionary monetary policy shocks … 1999-2019, when the Federal Funds Rate and the Euro-Dollar exchange rate are added to the VAR model inflation shows … significant unemployment inflation trade-off emerges. These conclusions are confirmed by using industrial production instead of …

-Wouters model and its forecasts of real GDP growth and inflation are compared with those from two extensions. The first adds … extensions improve the density forecasts of real GDP and inflation and their joint forecasts up to an eight-quarter horizon. We … find that adding financial frictions leads to a deterioration in the forecasts, with the exception of longer-term inflation …

Inflation in the euro area has been falling since mid-2013, turned negative at the end of 2014 and remained below … by means of sign restrictions, to inflation and economic activity. Shocks to oil supply do not tell the full story about … contractionary. A country analysis confirms that the negative effects of oil supply and monetary policy shocks on inflation was …

and inflation dynamics in Europe. Specifically, we include in our specification two separate energy markets (oil and … natural gas) and two target macroeconomic variables, measuring inflation expectations and the realized headline inflation. Our … results demonstrate that, during the last year, inflation in the Euro area is more affected from energy price shocks …

Against the difficult background of analysing aggregated data in this paper core inflation in the euro area is … misleading indicator for monetary policy in the euro area. We furthermore compare our core inflation measure to the wide … coincident indicator of HICP inflation. Assessing the robustness of our core inflation measure we carefully conclude that it …

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 …

We investigate the sources of macroeconomic (output and inflation) variability in selected European countries within … currently members of the European Monetary Union and non-members. As for inflation, on the contrary, regional factors are more …

This chapter aims at assessing the long-run determinants and the short-run dynamics of inflation in each country … cointegrating VAR approach, which allows for a structural long-run analysis of inflation determinants along with an accurate … inflation differ in the countries belonging to the Euro Area, but also that cost-push factors have a considerable role in …

This study adopts the long-run structural VAR approach to analyse the determinants of inflation in the Euro Area … economy over the period 1985:1-2003:2. Theoretical relationships link inflation to markup and output gap, respectively. The … short-run dynamic properties of inflation are investigated using a structural VECM. Inflation is explained by a mixture of …