activity or inflation. This is of particular interest in the context of an inflation-targeting regime, where the monetary … policy stance is set according to inflation forecasts. While most empirical studies on causality have examined this issue … criteria. The causality pattern inferred by the authors' procedure is consistent with the Phillips curve (for the inflation …

This paper compares the performance of simple inflation targeting (IT) and price-level path targeting (PLPT) rules to … preferred to IT for delivering macroeconomic stability, as it delivers a reduction in inflation and nominal interest rate …

inflation. However, such studies have for the most part focused on linear models, ignoring potential non-linearities between … interest rates and inflation. Using two different non-linear models, we find that the relationship between interest rate yield … spreads and inflation changes for policy-relevant horizons in the United States is most pronounced at negative long …

We propose alternative single-equation semi-structural models for forecasting inflation in Canada, whereby structural …

Inflation targeting (IT) had originally been introduced as a device to bring inflation down and stabilize it at low … levels. Given the current environment of persistently weak inflation in many advanced economies, IT central banks must now … bring inflation up to target. In this paper, the author tests to what extent inflation expectations are anchored in such …

This paper studies the formation of consumers’ inflation expectations using micro-level data from the Michigan Survey …. It shows that beyond the well-established socio-economic determinants of inflation expectations such as gender, income or … the average household in response to increasing media reporting about inflation. …

The author constructs a measure of core inflation using a structural vector autoregression containing oil-price growth …, output growth, and inflation. This "macro-founded" measure of inflation forecasts total inflation at least as well as other …