This paper undertakes an empirical investigation concerning the performance of the traditional measure of core inflation in recent years. It considers the group of G7 countries and explores both the high frequency and the low-frequency relations between overall inflation and core inflation. It...

This book explores the role of national fiscal policies in a selected group of Euro-area countries under the European Economic and Monetary Union (EMU). In particular, the authors characterize the response of output to fiscal consolidations and expansions in the small Euro-area open economies...