Autori
Creel, Jerome
Hubert, Paul
Blot, Christophe
Labondance, Fabien
Lagot, Xavier

Titolo
Euro Area Inflation and ECB Policy in a Global Environment
Periodico
Politica economica
Anno: 2016 - Fascicolo: 3 - Pagina iniziale: 539 - Pagina finale: 554

This paper contributes to the literature investigating the role of global factors in determining Euro area inflation, using a wide list of potential candidates to measure global factors. We show that roughly 50 percent of inflation is explained by global factors; and that the ECB has an impact on the domestic part of inflation. This calls for adjusting the definition of the ECB target to the domestic-driven indicator of inflation which we develop.



SICI: 1120-9496(2016)3<539:EAIAEP>2.0.ZU;2-6
Testo completo: https://www.rivisteweb.it/download/article/10.1429/85010
Testo completo alternativo: https://www.rivisteweb.it/doi/10.1429/85010

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