The relationship between monetary indicators and inflation is ussually assumed to be linear, implying that looser … monetary conditions always signal an increase in in.ation. Recently, money growth in the euro area surged while inflation … regression model to verify the claim that the impact of monetary indicators on future inflation varies conditional on stock price …

, Germany and Italy for the period 1991.3-2004.4. Instead of imposing rational expectations, I use direct measures of inflation … lagged inflation, I find that only in France lagged inflation does not have explanatory power beyond predicting expected … inflation. This suggests that only in France the standard forward-looking NKPC effectively captures quarterly inflation dynamics. …

This paper examines robust estimators of core inflation for Belgian historical CPI data, and for euro area Harmonised … outperform the traditional core inflation measures found in the literature. However, as traditional measures, they lag rather … than lead observed inflation. This was particularly so in the 70s and the 80s when the oil price shocks had substantial …

prices thereafter. Notwithstanding clear evidence of forward-lookingness, inflation persistence is substantial in both …

The harmonized index of consumer prices allows for inflation comparisons between European countries. This report shows …

We find that regional inflation dispersion has not markedly increased since the start of EMU, although it is somewhat … higher than in other monetary unions (US and Germany), and that the distribution of member states' rates of inflation around … the euro area HICP inflation rate is characterised by a few outliers. In addition, an analysis based on economic weights …

Following the Maastricht criteria, a country seeking to join the European Monetary Union cannot have an inflation rate … in excess of 1.5 percent plus the average inflation rates in the three 'best performing' EU countries. This inflation … simulations show that the expansion of the EU from 15 to 27 members reduces the expected inflation reference value by 0 …

of inflation risks. The empirical application shows that trading off monetary and macroprudential policy reduces the … overall costs related to inflation and financial instability. This can be achieved by changing the preferences of the central … bank, lengthening the monetary policy horizon and by a more flexible inflation target. Estimation results of a probit model …

This study explores whether the NAIRU is a useful indicator of prospects for inflation in the Netherlands. Apart from …, for short horizons (two years or less) inflation forecasts turn out to be quite invariant to changes in the level of the …

national output gaps constructed turn out to significantly explain future changes in inflation. Moreover, the analysis also … reveals that an aggregate European output gap significantly precedes aggregate European inflation, as well as inflation in the … individual EU countries. These findings imply that an aggregate European output gap may serve as an inflation indicator for the …