inflation pressure at the end of the sample. Excess liquidity models turnout to outperform the autoregressive benchmark, as they …

inflation channels, that is, liquidity fuels housing market developments. …

predicting euro area inflation. Excess liquidity is measured as the difference between the actual money stock and its fundamental … inflation, if the forecasting equations are based on measures of excess liquidity. …

This paper examines the forecasting performance of a broad monetary aggregate (M3) in predicting euro area inflation … even in the period of the financial and economic crisis. Monetary indicators are useful to predict inflation at the longer … money and inflation, central banks should implement exit strategies from the current policy path, as soon as the financial …

countryspecific measures, particularly since the start of EMU, and is useful to predict country-specific inflation. However, it … generally does not encompass country-specific money overhang measures as predictors of inflation. Hence, aggregate money … ; money overhang ; inflation forecast …

Although euro area-wide inflation was from 1999 to 2005 almost right, i.e., "close to balance, but below 2%," and … emerges at country level is more scattered. Inside a monetary union, inflation divergences could be destabilizing and an … excessive dispersion could be a problem, thus the scattered performance of the single members in terms of HICP inflation and …