We test the Barro-Gordon model extended to allow for persistence in unemployment. First, we build an index of central … bank independence and measures of persistence, and then we compare them with inflation performance in OECD countries. Our … of inflation. …

This paper studies the joint behaviour of inflation and unemployment in Spain over the period 1964-1995. We analyze the … implications both of full hysteresis in unemployment and high inflation persistence for inference regarding dynamic Phillips trade …

the unemployment, this paper tries to answer the following question: Is a nominal permanent disinflation compatible with … short-run unemployment costs but also with long-run output benefits? The answer to this question crucially depends on the …

restructuring and defaults; in the United Kingdom inflation has dominated, eroding the value of debt; and in Ireland and Spain the …

Inflation-indexed bonds are fixed-income securities whose nominal cash flows are adjusted to an inflation index. In … countries where these securities exist, inflation expectations are sometimes estimated as the spread between the nominal yield … the same issuer. However, this indicator known as the break-even rate, may estimate inflation expectations with some …

Political Science on June 4th. It starts by asking what factors have been behind the remarkable retreat of inflation that has …

provincial inflation divergences and relative price shifts. Inflation differentials are found to be small (the range is less than …

orientation of macroeconomic policies - and of monetary policies in particular - to achieving lower inflation rates. This has led … to a move from low inflation to price stability in a number of countries and, in particular, in Spain. The purpose of … from achieving inflation rates which are low enough to be considered consistent with a situation of price stability. …