Beck, Günter W.; Hubrich, Kirstin; Marcellino, Massimiliano - 2009
We use a novel disaggregate sectoral euro area dataset with a regional breakdown that allows explicit estimation of the …). Employing a new method to extract factors from over-lapping data blocks, we find for our euro area data set that the sectoral … component explains much less of the variation in sectoral regional inflation rates and exhibits much less volatility than …