February 2015 | No. 387

February 2015 | No. 387

Editorial

Deflation, inflation and the dilemma of monetary policy

Jordi Gual

Key points of the month

Central banks take centre stage again

Forecasts and indicators

Indicators and forecasts

Financial markets

International economy

European economy

Spanish economy

Dossier

Measuring inflation expectations: the devil is in the detail
Joan Daniel PinaCarlos Martínez Sarnago
Growth without inflation: what does the Phillips curve tell us?
Judit Montoriol Garriga
Inflation: merely a monetary phenomenon?
Ariadna Vidal Martínez
Falling inflation and the risk of deflation
Gerard Masllorens

February 2015| No. 387

Dossier

Inflation expectations

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Editorial

Deflation, inflation and the dilemma of monetary policy

Jordi Gual

Key points of the month

Central banks take centre stage again

Forecasts and indicators

Forecasts Key indicators financial markets Key indicators international economy Key indicators European Union Key indicators Spanish economy

Financial markets

Economic outlook

A start to the year affected by contrasts

Focus

Financial derivative trading in crude oil: victim or executioner?

Focus

A fair wind for Treasury funding in 2015

International economy

Economic outlook

The United States leads the recovery

Focus

Strong dollar - fragile emerging debt?

Àlex Ruiz

Focus

Has the deleveraging of US households come to an end?

European economy

Economic outlook

A crucial start to the year for the euro area

Focus

Why do European public budgets sometimes miss their targets?

Focus

Greece: a new post-Troika phase?

Spanish economy

Economic outlook

Strong growth thanks to temporary factors

Focus

On long-term unemployment in Spain

Focus

Investment in the recovery

Focus

Spain's export sector: pros and cons

Dossier

Inflation expectations

Focus

Measuring inflation expectations: the devil is in the detail

Joan Daniel Pina

Carlos Martínez Sarnago

Focus

Growth without inflation: what does the Phillips curve tell us?

Judit Montoriol Garriga

Focus

Inflation: merely a monetary phenomenon?

Ariadna Vidal Martínez

Focus

Falling inflation and the risk of deflation

Gerard Masllorens