transmission channels by which the purchases can be expected to affect economic activity and inflation. Then we assess the effects …

In the past decade changes in oil prices have played a significant role in shaping inflation dynamics in the US and in …

wage, unemployment and inflation. This is done by considering a two-stage strategic interaction between a central bank (CB … wages of other unions and the reaction-function of the CB as given. In the second stage the CB picks inflation so as to … minimize the combined costs of inflation and unemployment, taking union's wage rates as given. Since unions are averse to …