We analyse the possible impact of EMU enlargement on inflation rates in the accession countries. Using a simple … applied to the enlargement EMU: our findings indicate that (trend) inflation rates in the EMU candidate countries are likely … price level convergence prior to EMU enlargement. …

and may call for some adjustments in the conduct of the ECB's monetary policy. …

two centuries, the EMU was created in the course of two decades and remains unfinished as the economic pillar is largely …

carrying out vari-ous tasks. Within this framework, we evaluate the current division of labour between the ECB and NCBs using …

We measure the tone (sentiment) of the ECB's Governing Council regarding economic outlook at the time of each monetary … policy meeting and use this information together with the Eurosystem/ECB staff macroeconomic projections to directly estimate … estimations, that the ECB has been either more averse to inflation above 2% ceiling or that the de facto inflation aim has been …

We measure the tone (sentiment) of the ECB's Governing Council regarding economic outlook at the time of each monetary … policy meeting and use this information together with the Eurosystem/ECB staff macroeconomic projections to directly estimate … estimations, that the ECB has been either more averse to inflation above 2% ceiling or that the de facto inflation aim has been …

Monetary aggregates continue to play an important role in the ECB's policy strategy. This paper revisits the case for …-monetary factors alone may leave the ECB with an incomplete picture of the economy. However, treating monetary factors as a separate … monetary pillars' of the ECB's policy strategy appears the most promising way forward. The role played by monetary aggregates …