three dominant policy strategies of money targeting, exchange rate targeting and inflation targeting. Several of the lessons …

three dominant policy strategies of money targeting, exchange rate targeting and inflation targeting. Several of the lessons …

Inflation volatility is clearly important for structural analysis, forecasting and policy purposes, yet it is often … overlooked in the literature. This paper compares inflation volatility among advanced open economies with inflation targeting …, the volatility of inflation was similar among countries, even when controlling for monetary policy activity and other …

Inflation volatility is clearly important for structural analysis, forecasting and policy purposes, yet it is often …

Surprisingly it did not, or at least not directly. Using micro data on consumer prices and sectoral inflation rates … from 6 euro area countries, spanning several years before and after the introduction of the euro, we look at whether EMU … has altered the behaviour of retail price setting and/or inflation dynamics. We find no evidence that anything has changed …

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 …

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. …

prices. Stringent fixed exchange rate systems have exerted downward pressure on inflation both directly and via expectations … of future inflation. Measures of excess capacity in the labour market have no effect on inflation, while industrial … output gaps have some explanatory power. Real oil price shocks have an immediate but short-lived impact on inflation. …

instead is an important driver for the inflation, but only considering the euro zone as a whole. The EMU seems to not have … inflation in the euro zone, dividing the sample in two groups of countries: core and periphery. Then we test if the euro … inflation dynamics. Using a dynamic panel data framework based on an exchange rate pass-through model, we estimate the …