This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the … change associated with the start of EMU in 1999. The main findings are as follows. Steadystate inflation and inflation … can achieve lower inflation uncertainty by lowering the inflation rate. …

sector expectations that helps to dampen the fall in output and inflation at the outset of the liquidity trap …

near-term economic outlook, characterised by persistently low nominal interest rates and inflation, and in a lasting low …

This paper studies the effect of monetary policy on inflation along the income distribution in several euro area …. On the one hand, different consumption shares imply that inflation by high-income households responds less to monetary … its reaction to monetary policy, which imply that inflation by high-income households responds more to monetary policy. …

We explain the role of the Phillips Curve in the analysis of the economic outlook and the formulation of monetary …

Consumers' inflation expectations play a key role in the monetary transmission mechanism. As such, it is crucial for … as means to shed light on some of the more puzzling aspects of reported quantitative inflation perceptions and … expectations. These include the apparent overestimation of inflation by consumers as well as the negative correlation observed …

a rationale for the practice of inflation zone targeting. We show that the presence of either zone-quadratic preferences … or a zone-linear relationship between inflation and economic activity provides strong incentives to deviate from … structure and relative preference towards economic stability in determining the width of the implied targeted inflation zone. …

situation poses to price stability. We propose to regard the central banker as a risk manager who aims to contain inflation … within pre-specified bounds. We develop formal tools of risk management that may be used to quantify and forecast the risks …