European Inflation Dynamics

Jordi Gali (), Mark Gertler () and López-Salido, J. David

Banco de España Working Papers from Banco de España

Abstract: We provide evidence on the fit of the New Phillips Curve (NPC) for the Euro area over the period 1970-1998, and use it as a tool to compare the characteristics of European inflation dynamics with those observed in the U.S. We also analyse the factors underlying inflation inertia by examining the cyclical behavior of marginal costs, as well as that of its two main components, namely, labor productivity and real wages.

Keywords: INFLATION; BEHAVIOUR; COSTS (search for similar items in EconPapers)
JEL-codes: O52 E31 (search for similar items in EconPapers)
Date: 2000
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Working Paper: European Inflation Dynamics (2001)
Working Paper: European Inflation Dynamics (2001)
Journal Article: European inflation dynamics (2001)
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Persistent link: http://EconPapers.repec.org/RePEc:bde:wpaper:0020

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