patterns in economic activity and inflation following oil price shocks in the euro area. In the 'normal regime', oil price … shocks are followed by sizeable and sustained macroeconomic fluctuations, with inflation and economic activity moving in the … same direction as the oil price. The responses of inflation expectations and wage growth point to second-round effects as a …

is constructed for the German monetary sector based on M3, GNP, an inflation rate, a long-term interest rate and a short …-term rate which represents the policy variable of the DBB. Moreover, import price inflation is included as an exogenous variable …

patterns in economic activity and inflation following oil price shocks in the euro area. In the normal regime, oil price shocks … followed by sizeable and sustained macroeconomic fluctuations, with inflation and economic activity moving in the same … direction as the oil price. The responses of inflation expectations and wage growth point to second-round effects as a potential …

exchange rate and to the medium term interest rate are for the 1999-2004 period, the most important sources of inflation rate …

exchange rate and to the medium term interest rate are for the 1999-2004 period, the most important sources of inflation rate …

Well-anchored inflation expectations should not react to short-term oriented macroeconomic news. This paper analyzes … the dynamic response of inflation expectations to macro news shocks in a structural VAR model. As identification of … impact on U.S. long-term inflation expectations in the long run. In the short run, however, the degree of expectations de …