This paper assesses the impact of oil price changes on Spanish and euro area consumer price inflation. We find … oil price fluctuations are a major driver of inflation variability. The impact on Spanish inflation is found to be …

adjustments similar to that observed in microeconomic data, both for low and high inflation. Our setup is based on one fundamental …, and because it implies a large fall in the standard deviation of price adjustments as trend inflation increases. Even …-behaved when we change the steady state inflation rate, matching the data at least as well as Golosov and Lucas' model. …

conditions, government intervention, level of inflation, seasonality, and the practice of using attractive prices) and presents a …

decreases are not uncommon. Fifth, price increases and decreases are sizeable compared to aggregate and sectoral inflation rates … as well as aggregate or product-specific inflation. …

benefits, on inflation volatility. With this purpose, we build a New Keynesian model with search and matching frictions in the … inflation in response to shocks, by affecting the volatility of the three components of real marginal costs (hiring costs … inflation volatility, due to the small impact of changes in the volatility of the labor market on inflation dynamics. …

Applying the concept of underlying inflation can be thought of as an attempt to capture the general trend in inflation … more accurately than with readily available data on headline inflation. In this paper a number of approaches to the … analysis of underlying inflation are examined from a unifying standpoint, stressing their complementary nature, and empirical …