inflation targeting. For each rule we distinguish between cases with zero weight on the unemployment gap and a negative response … inflation. Responding to unemployment reduces cross-country differences within the monetary union and the differences in …

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 …

stabilizes inflation and output. The estimation of this model, which comprises forward-looking versions of the IS and the … this simple model matches the dynamic properties of the output gap, inflation and the interest rate in EMU quite accurately …. We also perform several exercises that show the response of output, inflation and interest rates to different kinds of …

. Positively, we find that inflation and unemployment differentials strongly depend on the underlying labor market structures …

inflation differ over time. We show that the impact varies considerably over time, depends on the source of increased liquidity … (M1, M3-M1 or credit) and the underlying state of the economy (asset price boom-bust, business cycle, inflation cycle …

This paper analyses the determinants of inflation differentials and price levels across the euro area countries …. Dynamic panel estimations for the period 1999-2006 show that inflation differentials are primarily determined by cyclical … positions and inflation persistence. The persistence in inflation differentials appears to be partly explained by administered …