is derived from policy-makers' preferences about inflation outcomes, we first show that downside risks to price stability … future inflation can provide insurance against the materialisation of such upside risks. …

patterns in economic activity and inflation following oil price shocks in the euro area. In the normal regime, oil price shocks … followed by sizeable and sustained macroeconomic fluctuations, with inflation and economic activity moving in the same … direction as the oil price. The responses of inflation expectations and wage growth point to second-round effects as a potential …

volume, an early exit, and a faster exit from the program on output and inflation in the euro area. Model simulations showed … that economic growth and inflation rates would decrease in all three scenarios. However, the effects of the scenario with … particular, an early exit from the program should significantly affect inflation rates, an effect that the European Central Bank …

patterns in economic activity and inflation following oil price shocks in the euro area. In the 'normal regime', oil price … shocks are followed by sizeable and sustained macroeconomic fluctuations, with inflation and economic activity moving in the … same direction as the oil price. The responses of inflation expectations and wage growth point to second-round effects as a …

We study whether clarity of central bank inflation reports affects return volatility in financial markets. We measure …

We study whether clarity of central bank inflation reports affects return volatility in financial markets. We measure …

the implications of digitalisation for measurement, productivity, labour markets and inflation, as well as more recent …