Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/154499
Authors: 
Altissimo, Filippo
Ehrmann, Michael
Smets, Frank
Year of Publication: 
2006
Series/Report no.: 
ECB Occasional Paper 46
Abstract: 
This paper provides a summary of current knowledge on inflation persistence and price stickiness in the euro area, based on research findings that have been produced in the context of the Inflation Persistence Network. The main findings are - i) Under the current monetary policy regime, the estimated degree of inflation persistence in the euro area is moderate; ii) Retail prices in the euro area are more sticky than in the US; iii) There is significant sectoral heterogeneity in the degree of price stickiness; iv) Price decreases are not uncommon. The paper also investigates some of the policy implications of these findings.
Subjects: 
Price setting
inflation persistence
monetary policy
EMU.
JEL: 
E31
E42
E52
Document Type: 
Research Report

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