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

containing information on real economic activity, inflation, interest rates and Divisia monetary aggregates produces the most …

-traded-goods inflation, since prices are found to be more sticky in this production sector, but those gains come at the cost of substantially … estimated model for the Canadian economy, with a strict inflation-targeting rule where the central bank reacts to the next … period's expected deviation from the inflation target and does not target the output gap. …

. Compared to the historical inflation targeting rule, an optimal price level targeting regime substantially reduces the welfare … also better than the optimal inflation targeting rule in minimizing the distortion generated by the presence of nominal …