Navigation Path: Home > Events > Conferences & seminars > Inflation Persistence in the Euro Area
Conference venue:
Eurotower, Kaiserstraße 29, D-60311 Frankfurt am Main, Room C IV, 2nd floor
Programme
The objective of this conference is to present research performed by the Inflation Persistence Network, a team of Eurosystem economists working on the patterns, determinants, and monetary policy implications of inflation persistence in the euro area. The empirical work analyses a variety of data, including aggregate time series for the euro area and its member countries, micro consumer and producer price records as well as firm-level surveys.
Organisers:
I. Angeloni (ignazio.angeloni@ecb.int)
S. Cecchetti (cecchetti@brandeis.edu)
M. Ehrmann (michael.ehrmann@ecb.int)
J. Galí (jordi.gali@upf.edu)
A. Levin (andrew.levin@frb.gov)
Administration:
S. Sommaggio (susana.sommaggio@ecb.int)
Participants: pdf 65 kB, en
| 08:15 | Registration and Continental Breakfast |
| 09:00 | Introduction: I. Angeloni (ECB), pdf 1820 kB, en |
| 09:30 |
Session 1: Evidence from aggregate and sectoral data Chair: I. Angeloni (ECB) Background papers: see annex Presentation and Discussion: J. Stock (Harvard University), pdf 389 kB, en M. Ciccarelli (ECB), pdf 159 kB, en Response by authors and general discussion |
| 11:00 | Coffee |
| 11:30 | Session 2: Evidence from micro consumer price data Chair: J. Tarkka (Suomen Pankki) Micro-CPI Team: "Price setting in the euro area: some stylised facts from individual consumer price data", pdf 336 kB, en (plus other background documents listed in annex) Discussion: S. Rebelo (Northwestern University), pdf 314 kB, en R. Reis ( Princeton University), pdf 19 kB, en General discussion |
| 13:00 | Lunch |
| 14:30 | Session 3: Evidence from micro producer price data Chair: N. Batini (IMF) Micro-PPI Team: "Price-setting behaviour in the euro area: summary evidence from producer price micro data", pdf 171 kB, en (plus other background documents listed in annex) Discussion: J. Konieczny (Wilfrid Laurier University), pdf 158 kB, en H. Pesaran (Cambridge University), pdf 212 kB, en General discussion |
| 16:00 | Coffee |
| 16:30 | Session 4: Evidence from firm-level surveys
Chair: W. Schill (ECB) Survey Team: "The pricing behaviour of firms in the euro area: new survey evidence", pdf 272 kB, en, Annex pdf 863 kB, en (plus other background documents listed in annex) Discussion: D. Levy (Bar-Ilan University), pdf 77 kB, en J. Rotemberg (Harvard University), pdf 23 kB, en General discussion |
| 18:00 | Conference adjourns |
| 20:00 | Dinner Speaker: O. Issing (ECB) |
| 08:15 | Continental Breakfast |
| 09:00 | Session 5: Structural models of inflation dynamics Chair: J. Fuhrer (Federal Reserve Bank of Boston), pdf 433 kB, en Background papers: see annex Presentation and Discussion: L. Christiano (Northwestern University), pdf 491 kB, en M. Gertler (New York University), pdf 101 kB, en Response by authors and general discussion |
| 10:30 | Coffee |
| 11:00 | Session 6: Inflation persistence in the euro area: what have we learned? Meta-analysis team: "Inflation persistence in the euro area: preliminary summary of findings", pdf 287 kB, en Panel Session: Chair: V. Gaspar (ECB) Discussion: A. Kashyap (University of Chicago GSB), pdf 133 kB, en R. King (Boston University), pdf 58 kB, en L. Papademos (ECB) A. Weber (Deutsche Bundesbank), pdf 222 kB, en General discussion |
| 13:00 | Lunch; conference ends |
F. Altissimo, B. Mojon and P. Zaffaroni: "Fast micro and slow macro: can aggregation explain the persistence of inflation?", pdf 324 kB, en
L. Bilke: "Break in the mean and persistence of inflation: a sectoral analysis of French CPI", pdf 256 kB, en
S. Corvoisier and B. Mojon: "Breaks in the mean of inflation: how they happen and what to do with them", pdf 341 kB, en
D. Dias and C. Robalo Marques: "Using mean reversion as a measure of persistence", pdf 2028 kB, en
M. Dossche and G. Everaert ( Ghent University ): "Measuring inflation persistence: a structural time series approach", pdf 595 kB, en
G. Gadzinski (GREQAM) and F. Orlandi: "Inflation persistence in the European Union, the Euro Area and the United States", pdf 917 kB, en
G. Hondroyiannis and S. Lazaretou: "Inflation persistence during periods of structural change: an assessment using Greek data", pdf 549 kB, en
A. Levin (Board of Governors) and J. Piger (Federal Reserve Bank of St. Louis ): "Is inflation persistence intrinsic in industrial economies?", pdf 1029 kB, en
P. Lünnemann and T. Mathä: "How persistent is disaggregate inflation? An analysis across EU15 countries and HICP subindices", pdf 555 kB, en
P. Lünnemann and T. Mathä: "Nominal price (index) rigidities and inflation persistence with focus on services and regulated prices", pdf 221 kB, en
G. O'Reilly and K. Whelan: "Has euro area inflation persistence changed over time?", pdf 473 kB, en
C. Robalo Marques: "Inflation persistence: facts or artefacts?", pdf 1050 kB, en
L. Álvarez, I. Hernando: "Price setting behaviour in Spain . Stylised facts using consumer price micro data", pdf 460 kB, en
L. Aucremanne and E. Dhyne: "How frequently do prices change? Evidence based on the micro data underlying the Belgian CPI", pdf 739 kB, en
L. Aucremanne and E. Dhyne: "Time-dependent versus state-dependent pricing: a panel data approach to the determinants of Belgian consumer price changes", pdf 479 kB, en
L. Baudry, H. Le Bihan, P. Sevestre and S. Tarrieu: "Price rigidity. Evidence from the French CPI micro-data", pdf 1378 kB, en
J. Baumgartner (WIFO), E. Glatzer, F. Rumler, A. Stiglbauer: "How frequently do consumer prices change in Austria ? Evidence from micro CPI data", pdf 295 kB, en
D. Dias, C. Robalo Marques, J. Santos Silva (ISEG): "Time or state dependent price setting rules? Evidence from Portuguese micro data", pdf 242 kB, en
M. Dias, D. Dias and P. Neves: "Stylised features of price setting behaviour in Portugal : 1992-2001", pdf 880 kB, en
D. Fougère (CREST-ENSAE and CNRS), H. Le Bihan and P. Sevestre: "Calvo, Taylor and the estimated hazard function for price changes", pdf 1397 kB, en
J. Hoffmann and J. Kurz-Kim: "Consumer price adjustment under the microscope: Germany in a period of low inflation", pdf 354 kB, en
N. Jonker, C. Folkertsma, H. Blijenberg (Statistics Netherlands): "An empirical analysis of price setting behaviour in the Netherlands in the period 1998-2003 using micro data", pdf 2757 kB, en
G. Veronese, S. Fabiani, A. Gattulli and R. Sabbatini: "Consumer price behaviour in Italy : evidence from micro CPI data", pdf 355 kB, en
J. Vilmunen and H. Laakkonen: "How often do prices change in Finland ? Micro-level evidence from the CPI", pdf 289 kB, en
L. Álvarez, P. Burriel, I. Hernando: "Price setting behaviour in Spain : evidence from micro PPI data", pdf 467 kB, en
M. Dias, D. Dias and P. Neves: "Stylised features of price setting behaviour in Portugal : 1992-2001", pdf 880 kB, en
R. Sabbatini, S. Fabiani, A. Gattulli and G. Veronese: "Producer price behaviour in Italy : evidence from micro PPI data", pdf 328 kB, en
H. Stahl: "Price rigidity in German manufacturing", pdf 677 kB, en
L. Aucremanne and M. Druant: "Price setting behaviour in Belgium : what can be learned from an ad hoc survey?", pdf 298 kB, en
S. Fabiani, A. Gattulli and R. Sabbatini: "The pricing behaviour of Italian firms: new survey evidence on price stickiness", pdf 398 kB, en
M. Hoeberichts and A. Stokman: "Pricing behaviour of Dutch companies: main results from a survey", pdf 157 kB, en
C. Kwapil, J. Scharler and J. Baumgartner (WIFO): "The price setting behavior of Austrian firms: some survey evidence", pdf 547 kB, en
C. Loupias and R. Ricart: "Price setting in France : new evidence from survey data", pdf 306 kB, en
F. Martins: "The price setting behaviour of Portuguese firms. Evidence from survey data", pdf 225 kB, en
L. Álvarez, P. Burriel and I. Hernando: "Do decreasing hazard functions of price durations make any sense?", pdf 322 kB, en
R.-P. Berben, R. Mestre, T. Mitrakos, J. Morgan and N. Zonzilos: "Inflation persistence in structural macroeconomic models", pdf 351 kB, en
G. Coenen and A. Levin (Board of Governors): "Identifying the influences of nominal and real rigidities in aggregate price setting behavior", pdf 304 kB, en
G. de Walque, F. Smets and R. Wouters: "Price setting in general equilibrium: alternative specifications", pdf 244 kB, en
A. Levin (Board of Governors), F. Natalucci (Board of Governors) and J. Piger (Federal Reserve Bank of St. Louis ): "Explicit inflation objectives and macroeconomic outcomes", pdf 1001 kB, en
M. Paloviita: "Inflation dynamics in the euro area and the role of expectations: further results", pdf 215 kB, en
F. Rumler: "Estimates of the open economy New Keynesian Phillips Curve for euro area countries", pdf 249 kB, en, pdf 153 kB, computations
K. Whelan: "Staggered price contracts and inflation persistence: some general results", pdf 236 kB, en
