European Inflation Dynamics

Jordi Galí, Mark Gertler and David Lopez-Salido

No 20, 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: E31 O52 (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (25)

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http://www.bde.es/f/webbde/SES/Secciones/Publicaci ... o/00/Fic/dt0020e.pdf First version, 2000 (application/pdf)

Related works:
Journal Article: European inflation dynamics (2001)
Working Paper: European Inflation Dynamics (2001)
Working Paper: European Inflation Dynamics (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:bde:wpaper:0020

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