In this paper we present supporting evidence of the existence of heterogeneity in inflation dynamics across euro area … significant inertial (backward looking) behavior in inflation in four of them, while inflation in Germany has a dominant forward … looking component. We then present an optimizing agent model for the area emphasizing the heterogeneity in inflation …

indicate substantial improvements in inflation and unemployment. Amongst the founding states, Ireland has idiosyncratically …

real gross domestic product (RGDP), which, in the optimum currency area (OCA) theory, supposes that countries with higher … optimum currency crisis (OCC) model is affected by mobility factors, as the defined theory has not been perfectly realised in …. This study analysed the application of the Eurozone in the light of the OCA of Mundel's theory.Social implications: The OCA …

on the extent to which domestic inflation and interest rate surprises contribute to short-run volatility in G3 exchange … rates. We set out a simple model of the implications of different monetary regimes for the response of inflation, interest … rates, and exchange rates to inflation surprises. We then develop an operational measure of central bank transparency, and …

broke the golden rule of a monetary union: commitment to a common inflation rate. As a result, the country faces a trilemma …

broke the golden rule of a monetary union: commitment to a common inflation rate. As a result, the country faces a trilemma …