Inflation volatility is clearly important for structural analysis, forecasting and policy purposes, yet it is often …

This paper reviews the existing empirical evidence on the short-term impact on prices of fiscal variables and assesses … Commission and the OECD models. Overall, a broad consensus appears on the impact on prices of changes in individual government … limited impact on prices in the first year while, in contrast, changes in indirect taxes and employers' social security …

This paper investigates the persistence of aggregate wages and prices in Portugal assuming a model of a unionized … system. Real wages and wage inflation emerge as especially persistent following an import price shock, while price inflation … wages is attributable mainly to unemployment shocks (about 80 percent), whereas variation in the forecast errors of prices …

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 …

spells or the probability of changing prices. Our results suggest that simple time dependent models cannot be seen as … setting behaviour of Portuguese firms. Inflation, the level of economic activity and the magnitude of the last price change … emerge as relevant variables affecting the probability of changing prices. Moreover, it is seen that the impact differs for …

This paper shows that inflation in industrialized countries is largely a global phenomenon. First, inflations of (22 … associated to Global Inflation is not only due to the trend components of inflation (up from 1960 to 1980 and down thereafter …) but also to fluctuations at business cycle frequencies. Second, Global Inflation is, consistently with standard models of …

-ups and costs and therefore can have a negative impact on prices. In order to assess their empirical relevance, we used a … prices with respect to the euro area: productivity growth and increased trade openness. Productivity growth can have a …

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 …

indicators in predicting euro area HICP inflation out-of-sample over the period first quarter 1999 till third quarter 2006 …

coordinated wage bargaining systems have a dampening impact on inflation volatility. …