2010-2019, we document new findings on consumer price rigidity in the euro area: (i) each month on average 12.3% of prices … changes does not change much with inflation and does not react much to aggregate shocks; (vi) changes in inflation are mostly … consistent with the predictions of a menu cost model in a low inflation environment where idiosyncratic shocks are a more …

2010-2019, we document new findings on consumer price rigidity in the euro area: (i) each month on average 12.3% of prices … changes does not change much with inflation and does not react much to aggregate shocks; (vi) changes in inflation are mostly … consistent with the predictions of a menu cost model in a low inflation environment where idiosyncratic shocks are a more …

In this paper we examine the impact of domestic and ERM-wide monetary conditions on national inflation rates in Belgium … matter for inflation in Germany. This points to the need for greater attention for the development of aggregate European …

in principle less restrictive approach is applied to operationalising expectations. Direct measures of inflation … expectations, i.e. OECD forecasts, are used as empirical proxies of economic agents' inflation expectations. The main interest is … in the euro area as a whole, although potential heterogeneity of inflation dynamics is also examined across eleven EMU …

, notwithstanding that inflation in some countries tends to converge towards the euro area level. Overall, inflation persistence has …

much sharper rise in inflation than measured by the official price indices, whose quality was called into question. In this … determinants. Since these data do not rely on official inflation statistics, they provide an independent check for the latter. We … official inflation statistics. We do not find evidence in support of this hypothesis …

After 2012, inflation has been unexpectedly low across much of the developed world and economists speak of a “missing … inflation” puzzle, namely inflation was expected to be higher on the back of an ongoing recovery. This paper investigates the … causes and consequences of low inflation in the euro area after 2012 and analyses whether monetary policy has been successful …

Inflation in the euro area has been falling since mid-2013, turned negative at the end of 2014 and remained below … by means of sign restrictions, to inflation and economic activity. Shocks to oil supply do not tell the full story about … contractionary. A country analysis confirms that the negative effects of oil supply and monetary policy shocks on inflation was …

We develop a theoretical model that features a business cycle-dependent relation between output, price inflation and … inflation expectations, augmenting the model by Svensson (1997) with a nonlinear Phillips curve that reflects the rationale … pronounced convex relationship between inflation and the output gap, meaning that the co-efficient in the Phillips curve on the …

Did the decline in inflation rates from 2012 to 2015 and the low levels of market-based inflation expectations lead to de …-anchored inflation dynamics in the euro area? This paper is the first time-varying event study to investigate the reaction of inflation …-linked swap (ILS) rates – a market-based measure of inflation expectations – to macroeconomic surprises in the euro area. Compared …