This study analyses the impact of economic catching-up on annual inflation rates in the European Union with a special … Balassa-Samuelson effect is not an important driver of inflation rates. By contrast, we find that the initial price level and … regulated prices strongly affect inflation outcomes in a nonlinear manner and that the extension of Engel's Law may hold during …

We study the effects of globalisation on the slope of the New Keynesian Phillips curve for CPI inflation, based on a … generally has a significant positive effect on inflation, but that this effect decreases as integration in the global economy …

We study the effects of professionals’ survey-based inflation expectations on inflation for a large number of 36 OECD … economies, using dynamic cross-country panel estimation of New-Keynesian Phillips curves. We find that inflation expectations … have a significantly positive effect on inflation. We also find that the effect of inflation expectations on inflation is …

Inflation dynamics have been difficult to explain over the last decade. This paper explores if a more comprehensive … treatment of globalization can help. CPI inflation has become more synchronized around the world since the 2008 crisis, but core … and wage inflation have become less synchronized. Global factors (including commodity prices, world slack, exchange rates …

Can the aging process affect inflation? The prolonged decline of fertility and mortality rates induces a persistent … downward pressure on the natural interest rate. If this development is not internalized by the monetary policy rule, inflation … inflation found in the data for the euro area. In this model, continuing to follow the same rule makes inflation to be on a …

aggregate demand still can cause significant inflation. …