monetary policy in the United States, in particular its interaction with the formation of inflation expectations and the … linkages between monetary policy, inflation expectations and the behaviour of CPI inflation. We use Livingston Survey data for … expected inflation, measured at a bi-annual frequency, actual inflation, unemployment and a nominal interest rate to estimate …

Microeconomic price rigidity is one of the main assumptions of the neo-keynesian macroeconomic models. Firms are not … able to adjust continuously their prices. In this paper, we make a synthesis of the main microeconomic price setting … theoretical models and of their empirical counterparts. Price rigidity is often justified by two models: a first one assumes that …

on the other aspect of monetary stability: the degree of price-level uncertainty and the anchoring of inflation …This paper focuses on the price stability objective within the framework of the single monetary policy strategy. It … exclusively on the anchoring of short- to medium-term inflation expectations (Part 2). Several measures show that this anchoring …

-through estimates have declined in response to a change in inflation environment and find evidence of such decline only for import …

the contribution of exchange rate shocks to price fluctuations in emerging targeters declines after adopting inflation …In this paper, we empirically examine the effect of inflation targeting on the exchange rate pass-through to prices in … inflation targeters and twelve inflation nontargeters). Our evidence suggests that inflation targeting in emerging countries …

We introduce a new measure called Inflation-at-Risk (I@R) associated with (left and right) tail inflation risk. We … estimate I@R using survey-based density forecasts. We show that it contains information not covered by usual inflation risk … indicators which focus on inflation uncertainty and do not distinguish between the risks of low or high future inflation outcomes …

unemployment rate has increased and economic activity has been sluggish. Changes in the implicit inflation target, viewed as low … frequency movements of inflation, might possibly explain these developments. To highlight this issue, the present study … estimates the dynamics of the implicit inflation target in the euro zone over the period 1970Q1-2004Q4. Based on a small …

responses of output, inflation, labor share and the nominal interest rate to a supply shock as identified through a structural …

--run effect on inflation as well as other nominal variables cointegrating with inflation. These shocks are found to generate large …