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dc.contributor.authorÁlvarez González, Luis Julián
dc.contributor.authorGómez Loscos, Ana
dc.contributor.authorGadea Rivas, María Dolores
dc.coverage.spatialZona euro
dc.descriptionArtículo de revista
dc.description.abstractThis article analyses the link between the changes in and the drivers of inflation in a broad range of advanced economies, with special emphasis on those of the euro area. Inflation rates are seen to be highly synchronised across countries, especially in the euro area economies, reflecting their close economic and financial links and the common monetary policy. Also, the comovement of inflation is found to be a phenomenon that tends to be more visible in the medium and long-term. At the same time, the synchronisation of core inflation, which is based on products with more stable prices, is seen to be limited. The interdependence of headline inflation, by contrast, is significantly higher and has increased considerably in recent years. The drivers of inflation, according to New Keynesian Phillips curve models, such as inflation expectations, the cyclical position and external prices, also help to explain the relationship between inflation rates in advanced economies and especially in those of the euro area.
dc.format.extent9 p.
dc.publisherBanco de España
dc.relation.ispartofEconomic bulletin / Banco de España. Analytical articles
dc.relation.ispartofEconomic bulletin / Banco de España [Artículos], n. 1, 2026
dc.relation.hasversionVersión en español 000468725
dc.rightsReconocimiento-NoComercial-CompartirIgual 4.0 Internacional (CC BY-NC-SA 4.0)
dc.rightsIn Copyright - Non Commercial Use Permitted
dc.subjectPhillips curve
dc.subjectTrend inflation
dc.titleThe relationship between inflation rates in advanced economies
dc.subject.bdeFluctuaciones y ciclos económicos
dc.subject.bdeModelización econométrica
dc.publisher.bdeMadrid : Banco de España, 2020
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