inflation and the extent of real wage rigidity but that these effects depend on the definition of reference norms (e.g. how …

microdata, and inflation responses are decomposed into “intensive”, “extensive”, and “selection” margins. Money growth and …

(2012) estimated on euro area data. It investigates to what extent forecasts of inflation, GDP growth and unemployment by …

microdata, and inflation responses are decomposed into “intensive”, “extensive”, and “selection” margins. Money growth and …

area (EA) and the US. The estimations show that until mid-2014 the ECB’s response to inflation was more forceful when … inflation was above 2% than below 2%. Since then, the ECB’s policy can be characterised as symmetric, and we quantify the … bound and a low neutral real rate, and find that it prescribes a stronger response to inflation and the output gap when …

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 …