Darvas, Zsolt M.; Varga, Balázs - 2013
countries, in comparison with the United States and the euro area. Inflation persistence tends to be higher in times of high … inflation. Since the oil price shocks, inflation persistence has declined both in the US and the euro-area. In most central and … implications for the conduct of monetary policy and for a possible membership in the euro area. We also conclude that the OLS …