or to shocks to expected and actual inflation. In so doing, we generalize the analysis undertaken by Leduc, Sill and … 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 …

on the inflation process. …

exclusively on the anchoring of short- to medium-term inflation expectations (Part 2). Several measures show that this anchoring … expectations has on the determination of the short- to medium-term inflation rate. From this point of view, observed inflation in … on the other aspect of monetary stability: the degree of price-level uncertainty and the anchoring of inflation …

-through estimates have declined in response to a change in inflation environment and find evidence of such decline only for import … prices, both in the short run and the long run. In a second step, we proceed to an individual analysis, country by country …

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 … the contribution of exchange rate shocks to price fluctuations in emerging targeters declines after adopting inflation …

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 … rate. The analysis is complemented by computing inefficiency measures on goods and labor markets. We show that, after a …