22 Results

Output gap estimates at the current edge are subject to severe revisions. This study analyzes whether monetary aggregates can be used to improve the reliability of early output gap estimates as proposed by several theoretical models. A real-time...

We examine both the degree and the structural stability of inflation persistence at different quantiles of the conditional inflation distribution. Previous research focused exclusively on persistence at the conditional mean of the inflation rate. As...

We examine both the degree and the structural stability of inflation persistence at different quantiles of the conditional inflation distribution. Previous research focused exclusively on persistence at the conditional mean of the inflation rate. As...

In-Depth Analysis in preparation for the Monetary Dialogue for the European Parliament in September 2015

Output gap estimates at the current edge are subject to severe revisions. This study analyzes whether monetary aggregates can be used to improve the reliability of early output gap estimates as proposed by several theoretical models. A real-time...

Globalization influences inflation and the transmission channels of monetary policy in various ways.

The literature has not yet come to a consensus on the actual responses of fiscal policy to output and to past public debt levels within industrialized countries. While the cyclical adjustment literature has suggested a strong response of the primary...