We analyse a simplified New-Keynesian model with an unobserved aggregate cost-push shock in which firms and the central bank have different information about the shock. We consider a linear policy rule where a pure inflation targeting central bank decides how much to react to the shock given its...

The prices of futures contracts on short-term interest rates are commonly used by central banks to gauge market expectations concerning monetary policy decisions. Excess returns - the difference between futures rates and the realized rates - are positive, on average, and statistically...

Since 2013 the inflation rate in the euro area has fallen steadily, reaching all-time lows at the end of 2014. Market-based measures of inflation expectations (such as inflation swaps) have also declined to extremely low levels, which suggests increasing concern about the credibility of the ECB...

The constitutional reforms of 2001 and 2003 empowered the Italian regions to enact legislation aimed at removing barriers to effective gender equality. The laws they have adopted in this field are often fragmented � only in a few cases do they form a consistent, comprehensive framework...

Le premier semestre 2014 est marqué par le regain de faveur des ménages pour l’assurance-vie alors que la collecte des livrets d’épargne réglementée s’amenuise après son gonflement induit fin 2012-début 2013 par les relèvements de plafonds.