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We provide new insights on the formation of inflation expectations – in particular at a time of great financial and … answered a weekly questionnaire about their short-, medium- and long-term inflation expectations. Participants received common … information sets with data relevant to euro area inflation. Our analysis of survey responses reveals several interesting results …
Persistent link: https://www.econbiz.de/10013119068
during and following the recent Great Recession, and that models in which inflation depends on economic slack cannot explain … the recent muted behavior of inflation, given the sharp drop in output that occurred in 2008-09. In this paper, we use a … protracted decline in inflation. The model does so even though inflation remains very dependent on the evolution of both economic …
Persistent link: https://www.econbiz.de/10013081875
chartalist, respectively), the rate of wage inflation depends on either unemployment or the wage-setting policies of the … inflation affects aggregate demand through its impact on the value of assets and debts. Bank rates depend on an endogenous …
Persistent link: https://www.econbiz.de/10013021745
strengthen the countercyclical behavior of markups and attenuate the response of inflation to fluctuations in output …
Persistent link: https://www.econbiz.de/10013024237
We analyze the economic consequences of forming a monetary union among countries with varying degrees of financial distortions, which interact with the firms' pricing decisions because of customer-market considerations. In response to a financial shock, firms in financially weak countries (the...
Persistent link: https://www.econbiz.de/10011932300
We provide new insights on the formation of inflation expectations - in particular at a time of great financial and … answered a weekly questionnaire about their short-, medium- and long-term inflation expectations. Participants received common … information sets with data relevant to euro area inflation. Our analysis of survey responses reveals several interesting results …
Persistent link: https://www.econbiz.de/10014176759
Assessing potential output and the output gap is essential for policy-making and fiscal surveillance. The European Commission proposes a production function methodology that involves the estimation of two classes of Gaussian state space models. This paper presents the R package RGAP which...
Persistent link: https://www.econbiz.de/10013256541
The recovery from the Global Financial Crisis was characterized by sluggish output growth and by inflation remaining … persistently below the inflation targets of central banks in many advanced economies despite an unprecedented monetary expansion …
Persistent link: https://www.econbiz.de/10012022449
The recovery from the Global Financial Crisis was characterized by sluggish output growth and by inflation remaining … persistently below the inflation targets of central banks in many advanced economies despite an unprecedented monetary expansion …
Persistent link: https://www.econbiz.de/10011976123
Deutschland ist auf einem guten Weg, seine Neuverschuldung schrittweise abzubauen. Das DIW erwartet bis 2012 eine Reduktion des Defizits auf ungefähr 23 Milliarden Euro. Dies gelingt vor allem, weil die Steuereinnahmen 2011 und 2012 sprudeln und die Sozialausgaben deutlich geringer ausfallen...
Persistent link: https://www.econbiz.de/10011602393