wages) in some countries of the eurozone (in particular, Greece, Ireland, Italy, Portugal, and Spain) to exit the crisis may … eurozone face. If this is done, firms should also acknowledge that unit capital costs have increased significantly and thus … play a larger role in the eurozone, and to make efforts to upgrade the export basket to improve competitiveness with more …

of the two elements leads to an inflation bias that is independent of the standard time-inconsistency bias. Secondly, we … an independent monetary policy. We find that inflation was the main determinant of central bank credit prior to 2007 …

, fiscal consolidation, privatization, and wealth taxation) and heterodox options (inflation, financial repression, debt …

-causes inflation in the euro area. Based on data from 1970 to 2006 and forecasting horizons of up to 12 quarters, there is surprisingly … power of money growth for inflation is substantially lower in more recent sample periods compared to the 1970s and 1980s …. This cautions against using money-based inflation models anchored in very long samples for policy advice. …