European Central Bank

Food insecurity and inflation: An empirical descriptive framework

This paper examines the statistical association between food inflation and food insecurity using official Eurostat data. The results indicate that food insecurity is more strongly associated with HICP for food and nonalcoholic beverages than with all items HICP, while no meaningf...

Striking a Bargain: Narrative Identification of Wage Bargaining Shocks

ABSTRACT Wage markup shocks, an important driver of business cycles, are hard to pin down. We quantify the importance of exogenous variation in wage bargaining power, one source of those shocks, from German minimum wage introduction episodes and strikes. This disciplines the impu...