public finances. We show that when the ECB misses its inflation target this has large heterogeneous fiscal consequences for … missing their inflation targets. They are also sizeable …

inflation and the difficulties of East European central banks in pursuing non-inflationary policies. The main obstacles are the …

Zusammenhang zwischen einer regelgebundenen Geldpolitik und der Inflation jedoch häufig nur relativ schwach ausgeprägt. In der …Monetary policy rules have been considered as fundamental protection against inflation. However, empirical evidence for … a correlation between rules and inflation is relatively weak. In this paper, we first discuss likely causes for this …

In recent years, inflation in the euro area has failed to decelerate decisively while cyclical slack built up in the … analysis conducted on two decades of quarterly data covering 17 countries yields a yes on both counts. First, inflation is …

rates on domestic inflation, which may have contributed to differences in policy stances during the boom in commodity prices …

To help policymakers form a judgment on inflation risks and the required monetary policy stance the OECD has developed … Outlook to explain recent developments in core inflation, excluding food and energy, based on developments in measures of … economic slack (the output gap), spill-over effects from energy prices onto core inflation and lagged responses to past …

techniques to documents that Federal Reserve staff prepare in advance of policy decisions, we capture the Fed's information set …. Using machine learning techniques, we then predict changes in the target interest rate conditional on this information set … information about the economy which is not captured by numerical forecasts that the staff include in the same documents. The …

inflation, building on our earlier work for the United States. Globally, as in the United States, pandemic-era inflation was due … bank inflation targets. As the effects of supply shocks have subsided, tight labor markets, and the rises in nominal wages …, have become relatively more important sources of inflation in many countries. In several countries, including the United …

persistence from the literature on imperfect information models, learning models, and so-called “trend inflation models …This chapter examines the concept of inflation persistence in macroeconomic theory. It begins by defining persistence …

We consider what, if any, relationship there is between monetary aggregates and inflation, and whether there is any … paribus unitary relationship between inflation and money growth. Simulations of a New Keynesian model suggest that we should … allowance needed for the phase shift in the relationship between monetary growth rates and inflation. While financial innovation …