terms of the intended path for inflation while involving costs in terms of risks and side effects that need to be balanced …

negatively correlated with inflation and inflation variance across countries. But the cross-country approach has been criticised … economy, higher output and somewhat lower inflation. We also investigate the interaction between the central bank and the …

estate, as well as the costs of public goods to develop alternative inflation measures in Germany since the introduction of … the euro. Real economic growth as well as median wage developments are reexamined in light of the alternative inflation …

. In particular, the replacement of the Bundesbank, directly targeting German inflation, by a European Central Bank (ECB …) targeting European inflation will remove a major institutional support of wage restraint in Germany. The consequences of this … for EMU are worked out under two scenarios, that inflation expectations will be generated by ECB monetary policy and that …

1970s' United States would not have prevented the Great Inflation. We show that a standard policy counterfactual suggests … that the Bundesbank – which is near-universally credited for sparing West Germany the Great Inflation – would also not have … been able to prevent the Great Inflation in the United States. The sheer implausibility of this result sounds a cautionary …

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 …