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

During the 1970s and early 1980s, Spain suffered high rates of inflation but inflation declined and by 1997 inflation … had fallen to approximately 2 percent. To fight inflation, Spain implemented austere monetary programs, joined the EMS in … 1989, enacted central bank autonomy in 1994, and introduced inflation targets in January 1995. Certainly, these and other …

bank independence and measures of persistence, and then we compare them with inflation performance in OECD countries. Our … of inflation. …

This paper develops and estimates a game-theoretical model of inflation targeting where the central banker …

This paper looks at the long term output effect of those monetary policies aimed at reducing inflation from its peak by …. Alternatively to the cross-country regression analysis we estimate a structural VAR model in output, inflation and unemployment. …

Emerging economies with inflation targets (IT) face a dilemma between fulfilling the theoretical conditions of "strict …

and its implications for US output, hours and inflation. Second we evaluate the extent to which that responses can be …

stable rates inflation in many countries in the nineties. Consequently, the main goal of this paper is to offer an overview … of the main policy issues arising in a low inflation environment and their practical relevance so as to identify the main …

to iid and autocorrelated money growth shocks, and decompose the inflation impact into 'intensive margin', 'extensive … inflation and output. The real effects are substantially larger if money growth is autocorrelated. In contrast, if we instead … impose a fixed menu cost specification, money growth shocks cause a sharp spike in inflation (via the selection component) so …

An exogenous oil price shock raises inflation and contracts output, similar to a negative productivity shock. In the … standard New Keynesian model, however, this does not generate a tradeoff between inflation and output gap volatility: under a … strict inflation targeting policy, the output decline is exactly equal to the efficient output contraction in response to the …