This paper examines the evolution of disagreement over the short-term inflation outlook in nine advanced economies during the decade and half beginning in the 2000s. The paper focuses on how disagreement is largely shaped by the benchmark against which this concept is evaluated and the role of...

This paper has examined the evolution of disagreement over the short-term inflation outlook in nine advanced economies during the decade and half beginning in the 2000s. The paper focuses on how disagreement is largely shaped by the benchmark against which this concept is evaluated and the role...

In this paper we estimate a small model of the euro area to be used as a laboratory for evaluating the performance of alternative monetary policy strategies. We start with the relationship between output and inflation and investigate the fit of the nominal wage contracting model due to Taylor...