This paper presents evidence on the lag between monetary policy actions and the response of inflation in the euro area … monetary policy regime thereafter. Results based on alternative definitions of inflation persistence support these findings …, although, they suggest that at the country level, a drop in German inflation persistence and a sizeable shift in the mean of …

This paper adopts the Impulse-Response methodology to understand inflation persistence. It has often been argued that …, we find that allowing for a distribution of contract lengths can yield a more plausible explanation of inflation …

We model provincial inflation in China during the reform period. In particular, we are interested in the ability of the … hybrid New Keynesian Phillips Curve (NKPC) to capture the inflation process at the provincial level. The study highlights … differences in inflation formation and shows that the NKPC provides a reasonable description of the inflation process only for the …

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 …

The paper presents an incomplete competition model (ICM), where inflation is determined jointly with unit labour cost … growth. The ICM is estimated on data for the Euro area and evaluated against existing models, i.e. the implicit inflation …. There is, however, some support in favour of the (reduced form) AWM inflation equation. It is the only model that …

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

In this paper we explore the link between the intensity of product market competition and inflation rates across EU … countries and sectors. We consider long-term averages of inflation rates in order to remove the cyclical behavior of inflation … product market competition, as proxied by the level of mark-up in particular, is an important driver of inflation …

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