We provide comprehensive evidence of the widespread occurrence of inflation convergence between all countries of the … inflation benchmarks (the cross-sectional average, the inflation target of the European Central Bank, and the Maastricht … criterion), structural breaks, and a core inflation measure. Our main findings imply that further enlargement of the euro area …

inflation expectations increased leading to fears of their un-anchoring. Using the first principal component of commodity prices …. Using a Phillips Curve framework we find a structural change after the collapse of Lehman Brothers when inflation …

recalibrations were central in supporting inflation. For example, we find inflation would have fallen into negative territory without …

We investigate drivers of Euro area inflation dynamics using a panel of regional Phillips curves and identify long …-run inflation expectations by exploiting the crosssectional dimension of the data. Our approach simultaneously allows for the … inclusion of country-specific inflation and unemployment-gaps, as well as time-varying parameters. Our preferred panel …