In this paper we report results on inflation persistence using 79 inflation series covering the EU countries, the euro … area and the US for five different inflation variables. The picture that emerges is one of moderate inflation persistence … across the board. In particular we find euro area inflation persistence to be broadly in line with US inflation persistence …

criteria. We find that the optimal monetary policy should not only target inflation rates in the domestic sectors and aggregate … characterized by additional elements penalizing fluctuations of the CPI inflation rate, the nominal interest rate and the nominal … the CPI inflation rate and the nominal interest rate. The constrained optimal policy results in targeting the CPI …

Surprisingly it did not, or at least not directly. Using micro data on consumer prices and sectoral inflation rates … has altered the behaviour of retail price setting and/or inflation dynamics. We find no evidence that anything has changed … earlier patterns. On the contrary, we do find evidence of a decline in the persistence of the inflation process in the mid …

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 …

equilibrium real rate using an estimated DSGE model for the euro area. We find that simple feedback rules that implement inflation … targeting result in a binding lower bound one-fourth of the time as well as inflation and output exhibiting large downward … purchases. Makeup strategies, especially average inflation targeting with a long averaging window, perform better than inflation …

We use realised variances and co-variances based on intraday data from Eurozone sovereign bond market to measure the … dependence structure of eurozone sovereign yields. Our analysis focuses on the impact of news, obtained from the Eurointelligence …

Inflation in the euro area has been falling since mid-2013, turned negative at the end of 2014 and remained below … by means of sign restrictions, to inflation and economic activity. Shocks to oil supply do not tell the full story about … contractionary. A country analysis confirms that the negative effects of oil supply and monetary policy shocks on inflation was …