household debt restructuring and defaults ; in the United Kingdom inflation has dominated, eroding the value of debt ; and in …

models used by the Banco de España to monitor consumer price inflation and forecast its future trends. The strategy followed … models that allow for a slowly evolving local mean when forecasting inflation …

causality of the oil price by US inflation as is consistent with the theory …

-heterogeneity on the response of aggregate inflation to exogenous shocks. We build up an otherwise standard DSGE model in which the … market we reproduce the main features of the distribution of firms in Spain. We then compare the inflation response to … predominate tend to deliver more muted inflation responses to exogenous shocks …

inflation. Under discretion, an inflationary bias arises from the central bank’s attempt to redistribute wealth towards debtor … by the incentive to prevent expectations of future inflation from being priced into new bond issuances ; under certain … conditions, long run inflation is zero as both effects cancel out asymptotically. For a plausible calibration, we find that the …

inflation interdependence. We analyze inflation comovements across a wide set of advanced economies and across the subset of … euro area countries. Some of our findings are expected, such as the fact that inflation interdependence among advanced … policy, or the fact that inflation synchronization among countries is highest for energy prices, reflecting common oil shocks …

Artículo de revista ; The effect of the euro exchange rate on inflation has taken on significant importance recently …, compatible with a pick-up in expected euro area inflation. However, the subsequent depreciation, since February 2018, might … exchange rate movements to overall consumer-price inflation in the Spanish economy has increased slightly in recent years …

the Spanish economy. On the basis of these variables, composite indicators are calculated that proxy inflation … expectations, the degree of slack in the economy and other inflation pressures, domestic and external alike. On the information … analysed, the recent period of low inflation in the Spanish economy is estimated to have come about in a setting in which …

average forecast accuracy of models that incorporate information on inflation expectations from the ECB’s SPF and Consensus … Economics compared to their counterparts that do not. The gains in forecast accuracy from incorporating inflation expectations … countries). The analysis is undertaken for headline inflation and inflation excluding energy and food and both point and density …