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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

ECB communication as a stabilization and coordination device: evidence from ex-ante inflation uncertainty

Fernandes, Cecilia Melo - 2021

This paper investigates the impact of ECB communication of its assessment of the economic outlook on ex-ante inflation uncertainty and sheds light on how central bank information shocks operate. The paper finds that ECB communication of new outlook information not only reduces professional...

Persistent link: https://www.econbiz.de/10012603073

How well-anchored are long-term inflation expectations?

Moessner, Richhild; Takáts, Előd - 2020

Persistent link: https://www.econbiz.de/10012238859

Decomposing Euro Area sovereign debt yields into inflation expectations and expected real interest rates

Mirdala, Rajmund - In: Journal of advanced research in law and economics : JARLE 6 (2015) 4/14, pp. 714-737

Persistent link: https://www.econbiz.de/10011722037

Monetary union and macroeconomic stabilization

Groll, Dominik - 2014 - This version: February 14, 2014

It is conventionally held that countries are worse off by forming a monetary union when it comes to macroeconomic stabilization. However, this conventional view relies on assuming that monetary policy is conducted optimally. Relaxing the assumption of optimal monetary policy not only uncovers...

Persistent link: https://www.econbiz.de/10011415479

Global inflation dynamics and inflation expectations

Feldkircher, Martin; Siklos, Pierre L. - 2018

Persistent link: https://www.econbiz.de/10012204045

Unconventional monetary policy and inflation expectations in the euro area

Aßhoff, Sina; Belke, Ansgar; Osowski, Thomas - 2020

Auswirkungen der unkonventionellen Geldpolitik ist nicht trivial, da standardisierte empirische Instrumente wie die VAR … Problem zu lösen. Wir stellen fest, dass die unkonventionelle Geldpolitik zwar kurzfristig zu einem Anstieg der … beigetragen hat. Dennoch deuten sie auf einen durch die unkonventionelle Geldpolitik ausgelösten Anstieg des mittelfristigen …

Persistent link: https://www.econbiz.de/10012149519

The evolution of inflation expectations in euro area markets

Gimeno, Ricardo; Ortega, Eva - 2016

Persistent link: https://www.econbiz.de/10011796334

Macroeconomic implications of oil price fluctuations : a regime-switching framework for the euro area

Holm-Hadulla, Fédéric; Hubrich, Kirstin - 2017

We investigate whether the response of the macro-economy to oil price shocks undergoes episodic changes. Employing a regime-switching vector autoregressive model we identify two regimes that are characterized by qualitatively different patterns in economic activity and inflation following oil...

Persistent link: https://www.econbiz.de/10011771984

Inflation dynamics during the financial crisis in Europe : cross-sectional identification of long-run inflation expectations

Dany-Knedlik, Geraldine; Holtemöller, Oliver - 2017

We investigate drivers of Euro area inflation dynamics using a panel of regional Phillips curves and identify long-run inflation expectations by exploiting the crosssectional dimension of the data. Our approach simultaneously allows for the inclusion of country-specific inflation and...

Persistent link: https://www.econbiz.de/10011764910