This paper studies the importance of money for inflation in the euro area. An inflation …

For the first time in the literature, this paper uses survey-based measures of inflation expectations to examine the … relationship between inflation and relative price variability (RPV). Using quarterly consumer price index data for 74 consumption … expected and unexpected inflation on RPV. Both headline and core inflation measures are used. The results show a statistically …

inflation are co-breaking. We argue that the step-like development of inflation is in line with shocks and monetary policy that …% inflation was accomplished by introducing an inflation targeting regime. …

of consumers' inflation expectations. First, we select some relevant keywords to identify tweets related to prices and … expectations thereof. Second, we build a set of daily measures of inflation expectations on the selected tweets combining the …-based inflation expectations.Our new indicators provide additional information beyond the market-based expectations, the professional …

This paper studies the importance of money for inflation in the euro area. An inflation equation is derived from a … small model that combines the supply and demand for money with a Phillips curve and the assumption that inflation … expectations develop adaptively. The model's solution attributes an impact on inflation not to actual money growth but to its core …

bankers to explain their monetary policy decisions in detail and for them to publish inflation forecasts. This leads to the … question of how central bank transparency is entangled with price stability and inflation volatility. A plethora of studies … transparency leads to lower inflation, others concluded that openness of central banks results in higher prices. Conversely, there …

In a recent paper, Atkeson and Kehoe (2004) demonstrated the lack of a robust empirical relationship between inflation … relationship by allowing for inflation and growth to have a nonlinear specification dependent on inflation levels. In particular …, we allow for the possibility that high inflation is negatively correlated with growth, while a positive relationship …

We develop a theoretical model that features a business cycle-dependent relation between out- put, price inflation and … inflation expectations, augmenting the model by Svensson (1997) with a nonlinear Phillips curve that reflects the rationale … pronounced convex relationship between inflation and the output gap, meaning that the coefficient in the Phillips curve on the …

We address this question by examining the conditional dynamics of inflation and output growth in response to markup … shocks for 14 industrialized countries. Markup shocks create a trade-off between output gap and inflation stabilization … purposes, and the theory predicts that conditional on such shocks output growth should be more volatile than inflation in …

Inflation expectations play a key role in determining future economic outcomes. The associated uncertainty provides a … direct gauge of how well-anchored the inflation expectations are. We construct a model-based measure of inflation … expectations uncertainty by augmenting a standard unobserved components model of inflation with information from noisy and possibly …