We study the convergence properties of inflation rates among the countries of the European Monetary Union over the … into two parts, before and after the birth of the euro. We study convergence in the first sub-sample by means of univariate … and multivariate unit root tests on inflation differentials, arguing that the power of the tests is considerably increased …

This paper uses the euro cash changeover to test theories of finite informationprocessing capacities on the side of … effects are found in particular for goods with prices below one euro sold in mid-priced stores. The paper also finds that … cross-country differences in the mismatch of perceived and actual inflation in the aftermath of the cash changeover are …

power for domestic consumer price inflation in the euro area. Based on these findings, the prescription that central banks …This paper tests whether the proposition that globalisation has led to greater sensitivity of domestic inflation to the … global output gap (the quot;global output gap hypothesisquot;) holds for the euro area. The empirical analysis uses quarterly …

This paper decomposes the time-varying effect of exogenous exchange rate shocks on euro area countries inflation into … quarters of the past six years, especially in turning point periods. Our main results indicate that headline inflation in euro … inflation this increasing sensitivity is solely reliant on a sustained surge in the degree of comovement, for energy inflation …

inflation premia differs between the US and the euro area. Long term inflation premia are countercyclical in the euro area …We use a joint model of macroeconomic and term structure dynamics to estimate inflation risk premia in the United … States and the euro area. To sharpen our estimation, we include in the information set macro data and survey data on …

This paper provides a comprehensive empirical analysis of the role of discretionary fiscal policy for inflation … differentials across the 19 euro area countries over the period 1999-2019. The results confirm existing (older) literature that it … is difficult to find robust evidence of the fiscal policy stance or impulse impacting directly on inflation differentials …

different price stages in the euro area. The overall results are roughly in line with the literature and provide insight into … of euro area prices …

the euro area. This improves the analysis of developments in inflation expectations by providing constant maturity …This paper provides a toolkit for extracting accurate information about inflation expectations using inflation …-linked bonds. First, we show how to estimate term structures of zero-coupon real rates and break-even inflation rates (BEIRs) in …

results suggest that euro-area inflation forecasts have reacted less to unemployment forecasts after the start of the … forecasts that are consistent with a (mostly forward-looking) New Keynesian Phillips Curve for the euro area. The estimation … financial crisis but another cost measure (energy inflation) remains significant. This finding is consistent with a flatter …

-anchored inflation dynamics in the euro area? This paper is the first time-varying event study to investigate the reaction of inflation …-linked swap (ILS) rates – a market-based measure of inflation expectations – to macroeconomic surprises in the euro area. Compared …Did the decline in inflation rates from 2012 to 2015 and the low levels of market-based inflation expectations lead to de …