impact of energy price changes on overall inflation in the future. For instance, the reaction of HICP inflation to energy …

impact of energy price changes on overall inflation in the future. For instance, the reaction of HICP inflation to energy …

qualitative and quantitative information on subsequent inflation. The usefulness of monetary analysis is contrasted to weaknesses … in modeling monetary policy and inflation with respectively short-term interest rates and real activity measures. The … analysis sheds light on the recent change in inflation volatility and persistence as well as on the Phillips curve flattening …

situation poses to price stability. We propose to regard the central banker as a risk manager who aims to contain inflation …

the Generalized Dynamic Factor model to develop a set of core inflation indicators that, combining national data with area …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

assumptions on the functional correspondence between price inflation, inflation expectations and marginal costs. Expectations are … not assumed to be an unbiased predictor of actual inflation and instead derived from the European Commission’s Consumer … Survey data. The results suggest that expectations drive inflation with a lag of about 6 months, which casts further doubt on …

non-atomistic unions. It is shown that concentrated labor markets call for more aggressive inflation stabilization. This …

-term interest rates to the Bank of England’s inflation report andto macroeconomic announcements. Due to the quarterly frequency at …, the more timehas elapsed since the latest release of an inflation report, market volatility shouldincrease, the price …