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The bias of the ECB inflation projections : a State-dependent analysis
Granziera, Eleonora; Jalasjoki, Pirkka; Paloviita, Maritta - 2024
We test for state-dependent bias in the European Central Bank's inflation projections. We show that the ECB tends to underpredict when the observed inflation rate at the time of forecasting is higher than an estimated threshold of 1.8%. The bias is most pronounced at intermediate forecasting...
Persistent link: https://www.econbiz.de/10014532443
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Where do they care? : the ECB in the media and inflation expectations
Larsen, Vegard Høghaug; Maffei-Faccioli, Nicolò; … - 2023
This paper examines how news coverage of the European Central Bank (ECB) affects consumer inflation expectations in the four largest euro area countries. Utilizing a unique dataset of multilingual European news articles, we measure the impact of ECB-related inflation news on inflation...
Persistent link: https://www.econbiz.de/10014314147
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Building bridges : central banking law in an interconnected world : ECB Legal Conference 2019
ECB Legal Conference <2019, Frankfurt am Main>; … - 2019
Persistent link: https://www.econbiz.de/10012296695
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The ECB and the Ukraine war : threats to price, economic and financial stability : in-depth analysis requested by the ECON committee
Bonatti, Luigi; Tamborini, Roberto - Europäisches Parlament / Policy Department for … - 2022
Persistent link: https://www.econbiz.de/10013410783
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Analysing euro area inflation outlook with the Phillips curve
Oinonen, Sami; Vilmi, Lauri - 2021
This paper presents the New Keynesian Phillips Curve (NKPC) -based framework for analysing euro area inflation outlook. Our NKPC specification, that relies on market- and survey-based inflation expectations, explains well euro area inflation dynamics. Its forecasting performance is also...
Persistent link: https://www.econbiz.de/10012622377
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"There has been an awakening" : the rise (and fall) of inflation in the euro area
Neri, Stefano - 2024
Persistent link: https://www.econbiz.de/10014513438
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A welcome revision rather than a revolution : in-depth analysis requested by the ECON committee
Blot, Christophe; Bozou, Caroline; Creel, Jérôme - Europäisches Parlament / Policy Department for … - 2021
Persistent link: https://www.econbiz.de/10012806577
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Inflation dynamics and monetary policy in the euro area : in-depth analysis requested by the ECON committee
Benigno, Pierpaolo; Canofari, Paolo; Di Bartolomeo, Giovanni - Europäisches Parlament / Referat Kontrolle der … - 2023
Persistent link: https://www.econbiz.de/10014252142
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Addressing inflationary risks in the face of high energy prices : what can the ECB do? : in-depth analysis requested by the ECON committee
Ider, Gökhan; Kriwoluzky, Alexander; Schumann, Ben; … - Europäisches Parlament / Referat Kontrolle der … - 2023
Persistent link: https://www.econbiz.de/10014253601
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Limited commitment, endogenous credibility and the challenges of price-level targeting
Cateau, Gino; Shukayev, Malik - 2018
central bank with such discretion undermines the credibility of the price-level target and weakens its effectiveness to … stabilize the economy through expectations. The endogenous nature of credibility also brings novel results relative to models … with exogenous timing of target resets. A much higher degree of credibility is needed to realize the stabilization benefits …
Persistent link: https://www.econbiz.de/10011946949