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An aggregation exercise is proposed that aims at investigating whether the fast average adjustment of the disaggregate inflation series of the euro area CPI translates into the slow adjustment of euro area aggregate inflation. We first estimate a dynamic factor model for 404 inflation...
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concludes with an empirical application to consumer price inflation in Germany, France and Italy, and re-examines the extent to …
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concludes with an empirical application to consumer price inflation in Germany, France and Italy, and re-examines the extent to …
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