, unemployment is systematically decreasing, the financial sector is more eager to lend, and its clients - to borrow. Rapidly growing …

This paper provides a summary of current knowledge on inflation persistence and price stickiness in the euro area …, based on research findings that have been produced in the context of the Inflation Persistence Network. The main findings … are - i) Under the current monetary policy regime, the estimated degree of inflation persistence in the euro area is …

movements do not have an impact on inflation, as aggregate rules of thumb mask substantial heterogeneities across countries … deviations of inflation from target, including those relating to exchange rate fluctuations. Moreover, under the effective lower … inflation. …

Inflation in advanced economies is low by historical standards but there is no threat of deflation. Slower economic … growth is caused by supply-side constraints rather than low inflation. Below-the-target inflation does not damage the … reputation of central banks. Thus, central banks should not try to bring inflation back to the targeted level of 2%. Rather, they …

This paper revisits the empirical relationship between unemployment and output, and its evolution following the … the European System of Central Banks (ESCB). First, the negative correlation between output and unemployment (Okun’s law …. Focusing on the euro area, the financial distress seems to have altered the dynamics of output and unemployment mainly at lower …

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

While the relationship between inflation and relative price variability (RPV) has been widely investigated in developed … differently to different inflation regimes across the ECOWAS region, determining the inflation threshold that would minimize the … distortionary impact of expected inflation on RPV in the region. Using the Panel Smooth Transition Regression (PSTR) model over the …