explain the persistence of inflation. However, both of these theories are inconsistent with the micro data on prices. In this … difference between the GTE and its popular alternatives in terms of inflation persistence, a difference arises when it comes to …

This paper analyses the impact of asymmetric preferences with respect to inflation and output by policymakers on … for low inflation. Using data for four G7 economies, the paper shows that, except for Germany, nonlinear and asymmetric … monetary authority develops a greater precautionary demand for output expansions than for low inflation. This may generate a …

In this paper we present supporting evidence of the existence of heterogeneity in inflation dynamics across euro area … countries. Based on the estimation of New Phillips Curves for five major countries of the euro area, we find that there is … significant inertial (backward looking) behavior in inflation in four of them, while inflation in Germany has a dominant forward …

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 …