This paper studies factors behind inflation dynamics in the euro area, the UK and the US. It introduces a factor … inflation in the three economies. The FAVAR model framework is also applied to study the effects on inflation subcomponents in … the more recent past. The FAVAR models suggest that headline inflation in the three economies has reacted in a relatively …

The paper presents an incomplete competition model (ICM), where inflation is determined jointly with unit labour cost … growth. The ICM is estimated on data for the Euro area and evaluated against existing models, i.e. the implicit inflation …. There is, however, some support in favour of the (reduced form) AWM inflation equation. It is the only model that …

growth regime. Since the great financial crisis inflation developments have posed major puzzles to economists as inflation … paper analyses whether the wage-price pass-through may have contributed to these inflation puzzles. Applying the Threshold … or diminish the puzzle of the missing disinflation of the past two recessions suggesting that inflation should be …

In the past five years, the inflation in the euro area has been well below the European Central Bank’s (ECB) aimed … inflation rate of close to but below two percent for achieving its objective of price stabilization in the medium term. The … present analysis shows that expectations of low inflation, rising cyclical unemployment, and external factors such as low …

We study whether the trade-off between inflation and unemployment still exists in the euro area (EA). Using country …. (2022) deploying a non-tradable price index to measure inflation. We find that the slope of the Phillips curve is small and … overstate the steepness of the Phillips curve considerably. Our findings imply that the insensitivity of inflation with respect …

We analyse the determinants of the inflation trends in ten Southeast European (SEE) countries. Global cost …-related factors and euro area inflation developments play an important role in explaining inflation dynamics in SEE countries. Changes … exchange to the euro area (EA) market appear to be susceptible to inflation spillovers from the euro area. Moreover, nominal …

We analyze the determinants of the inflation trends in ten Southeast European (SEE) countries. Global cost …-related factors and euro area (EA) inflation developments play an important role in explaining inflation dynamics in SEE countries … exchange to euro area market appear to be susceptible to inflation spillovers from the euro area. Moreover, nominal effective …

In order to provide medium run forecasts of headline and core HICP inflation for the euro area, we assess the … indicators help improve upon the simple Autoregressive (AR) model for forecasting HICP core inflation as well total inflation, if … in inflation in a timely manner. But, from that point of view, the construction of a ''synthetic core'' indicator helps …

, notwithstanding that inflation in some countries tends to converge towards the euro area level. Overa11, inflation persistence has …