(Why) do prices and inflation rates differ within the euro area? We study the relevance of a national border for …-level inflation rates differ for only half of the chains. The results highlight the importance of the history-dependent evolution of … distribution networks and of the structure of the sales organization as a driver of price and inflation heterogeneity …

A number of studies document the prominent role of global factors in domestic inflation developments (e.g. Borio and … Filardo, 2007; Ciccarelli and Mojon, 2010). In this paper we investigate global dimensions of advanced economy inflation. We … inflation expectations and augment Phillips curves with global factors including global economic slack, global inflation and …

This paper shows that inflation in industrialized countries is largely a global phenomenon. First, the inflation rates … variance share that is associated with Global Inflation is not only due to the trend components of inflation (up from 1960 to …. The co-movement of inflation comes largely from common shocks. Global Inflation is a function of real developments at …

We challenge the view that the relationship between money and prices is too loose in countries with low inflation rates … the long-run and find that the short-run correlation between annual inflation and model-based excess money growth is not …