's response to productivity shocks. This leads to a less reactionary monetary policy where model misspeciffcation of imperfectly … misperception of product quality by the monetary authority, the principles for optimal monetary policy are, nonetheless, unchanged …

's response to productivity shocks. This leads to a less reactionary monetary policy where model misspeciffcation of imperfectly … misperception of product quality by the monetary authority, the principles for optimal monetary policy are, nonetheless, unchanged …

redistributionary channels amend the standard consumption response to monetary policy - an earnings heterogeneity channel, an inflation …Monetary policy has implicit redistribution effects for households when households are different. This changes the … channels of monetary policy in the euro area. When households have heterogeneous MPCs and balance sheets, three …

, UEMOA and CFA zones.Design/methodology/approach – In the assessments, monetary policy targets inflation and financial …Purpose – A major lesson of the EMU crisis is that serious disequilibria result from regional monetary arrangements not …. We also provide the speed of convergence and time required to achieve a 100% convergence.Findings – But for financial …

officially measured inflation rates and highlights the weaknesses of the ECB’s envisioned approach. …’s Harmonized Index of Consumer Prices (HICP), the ECB’s basis for its monetary policy, does not take residential property prices …

contribution of monetary policy shocks to inflation is moderate, reflecting its broadly neutral stance throughout most of the last … two decades. However, monetary policy has occasionally made larger contributions to inflation, and recently helped contain …Inflation in low-income countries is often high and volatile, driven by external shocks. In addition, inflation in …