whether inflation uncertainty has diminished following the introduction of the Euro in Europe. Consumers' responses to the …This paper uses the European Commission's Consumer Survey to assess whether inflation expectations have converged and … survey suggest that inflation expectations depend more on past national inflation rates than on the ECB's anchor for price …

This study analyses the impact of economic catching-up on annual inflation rates in the European Union with a special … Balassa-Samuelson effect is not an important driver of inflation rates. By contrast, we find that the initial price level and … regulated prices strongly affect inflation outcomes in a nonlinear manner and that the extension of Engel's Law may hold during …

Central bank credit has expanded dramatically in some of the euro area member countries since the beginning of the … interaction of the two elements leads to an inflation bias that is independent of the standard time-inconsistency bias. Secondly … objectives among the national central banks in the euro area. We show that after 2007, central bank credit has been highly …

inflation (PPI) across countries. Using a multi-country, industry-level dataset that combines information on PPI and exchange … across a range of econometric tests, input-output linkages account for half of the global component of PPI inflation. We … preserves fat-tailed idiosyncratic shocks and thus leads to a fat-tailed distribution of inflation rates, i.e., periods of …

We derive counterfactual national interest rate paths for the 17 Euro Area countries for the period 1999 to 2012 to … which focus on countries which fare economically worse than the Euro Area average explain the EONIA path best …

of Euro–area banks to the global financial crisis. We focus on their interest–rate setting behavior in response to …

estimate Taylor rules for alternative sets of euro area aggregates derived from different weighting schemes of national …

The sovereign debt crisis has made it clear that central banking is more than keeping inflation low. Central banks are …