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 …

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 …

In recent years, inflation in the euro area has failed to decelerate decisively while cyclical slack built up in the … analysis conducted on two decades of quarterly data covering 17 countries yields a yes on both counts. First, inflation is …

is derived from policy-makers' preferences about inflation outcomes, we first show that downside risks to price stability … future inflation can provide insurance against the materialisation of such upside risks. …

estimating the effect on overall headline inflation, we examine effects on its 12 main sub-indices and further sub-categories of … food price inflation. This allows us to disentangle differences in the direction and strength of price effects across … consumption categories. Our results suggest significant positive effects of natural disasters on overall headline inflation, with …

Headline inflation in the euro area jumped to more than three percent in the summer after years of relatively low … inflation rates well below the target of close to but below two percent set by the ECB until July 2021. One of the main reasons … for the rise in inflation is the increase in energy prices since the beginning of 2021. However, there are further …

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 …

policy rate will become constrained in the future lowers today's inflation by creating tail risk in future inflation and thus … reducing expected inflation. In an empirically rich model calibrated to match key features of the U.S. economy, we find that … the tail risk induced by the ELB causes inflation to undershoot the target rate of 2 percent by as much as 50 basis points …

. Macroeconomic outcomes are measured by the mean levels and the volatility of output (gaps), unemployment and inflation. We present … point inflation target appears to outperform a target range. Third, the (relative) performance of low-for-long (L4L … space is small, but if the space is larger these rules, while stabilizing inflation, may lead to more volatility in the real …