europäische Aktien- und Anleihemärkte sowie Euro-Währungskurse seit 1999, als die EZB die Verantwortung für eine gemeinsame und …

Inflation differentials in the Euro area are mainly due to a sustained divergence of wage developments across the Euro … inflation using unit labour cost (ULC) growth and applying PANIC (Bai and Ng, 2004) and cluster procedures (Hobijn and Franses …, 2000, Busetti et al., 2006) to Euro area countries as well as US States, US Census Regions and German Länder. Euro area …

This paper compares relative unit labour cost developments in the countries of the euro-area since the beginning of the … United States of America and Germany. To this end, unit labour cost indices for the US states and census regions from 1977 to …

regimes (high and low inflation). Using Bayesian techniques, we apply the model to the euro area, Germany, the US, the UK and …We develop a time-varying transition probabilities Markov Switching model in which inflation is characterised by two … switches between inflation regimes. Thus money growth provides an important early warning indicator for risks to price …