Inflation differentials in the Euro area are mainly due to a sustained divergence of wage developments across the Euro … inflation using unit labour cost (ULC) growth and applying PANIC (Bai and Ng, 2004) and cluster procedures (Hobijn and Franses …

inflation convergence using different approaches, namely panel unit root tests, cointegration tests and error-correction models …

This study analyses the impact of economic catching-up on annual inflation rates in the European Union with a special … Balassa-Samuelson effect is not an important driver of inflation rates. By contrast, we find that the initial price level and … regulated prices strongly affect inflation outcomes in a nonlinear manner and that the extension of Engel's Law may hold during …

relationship between inflation and real marginal cost, which is derived from micro-founded models with rational expectations …

credibility (or lack-of-trust) problem for monetary policy. This indicates a possible and until now unexplored link between social …

Monetary policy rules have been considered as fundamental protection against inflation. However, empirical evidence for … a correlation between rules and inflation is relatively weak. In this paper, we first discuss likely causes for this …

macroeconomic environment. We find that central bank credibility is negatively associated with the level of inflation target …This paper aims to contribute to a better understanding on how inflation targets are set. For this reason, we first … inflation targets are set; we then estimate the determinants of the level of inflation target in 19 inflation targeting …