inflation and output dynamics in the United States. In particular, I find that real money balance effects are quantitatively …

nominal policy interest rate and the CPI inflation rate decline during housing booms and rise as house prices fall. These … demonstrate that stronger policy responses to inflation amplify housing-market boom-bust cycles. Also, higher loan-to-value ratios … stability ; Inflation targets …

this phenomenon, which has been observed for several other countries, may be due to a change in the behaviour of inflation …. Specifically, moving from a high to a low-inflation environment has reduced the expected persistence of cost changes and, by … policy has responded more aggressively to inflation deviations over the low pass-through period relative to the high pass …

We study a model with repeated moral hazard where financial contracts are not fully indexed to inflation because …

The days when secrecy and opacity were the bywords of central banking are gone. The advent of inflation targeting in …