investment task. Moreover, emotions were explicitly measured, including anticipatory emotions experienced during the waiting … measured during the experiment. Main findings are that delayed resolution can affect investment, that the effect depends on the …

We study the effects of Central Bank transparency on inflation and the output gap. We thus first identify a small … analytical model, which concludes that transparency affects the variability of inflation and output and not their average levels … explain however, about 50% of the variability in inflation. The relation between transparency and output volatility is less …

This paper provides a quantitative assessment of the effects of inflation through changes in the value of nominal … redistribution brought about by a moderate inflation episode. Redistribution takes the form of 'ends-against-the-middle': the middle … class gains at the cost of the rich and poor. In addition, inflation favours the young over the old, and hurts foreigners. A …

-2001 had an important impact on inflation divergence within the EMU and in particular the surge in Ireland’s inflation to over … contribute to inflation convergence and in particular to a fall in Irish inflation? Fortunately for us, the theory has passed the … test with flying colours. Irish inflation stopped dead in its tracks: consumer prices were unchanged between May and …

competitiveness. A formal theory of inflation in the euro-zone based on an open-economy version of the New Keynesian model is used to … shown that, in effect, this is an inflation tax, requiring high inflation countries to make transfers to low inflation …

We set out a reference chronology for annual UK inflation, identifying nine complete cycles between 1958 and 1990 …. Inflation over this period is asymmetric, falling more quickly than it rises. Leading indicators are also proposed, with …, they give clear prior turning point information with relatively few `false signals'. Nevertheless, we find that inflation …

We develop and estimate a structural model of inflation that allows for a fraction of firms that use a backward looking … measures of marginal cost as the relevant determinant of inflation, as the theory suggests, instead of an ad-hoc output gap …. Real marginal costs are a significant and quantitatively important determinant of inflation. Backward looking price setting …

of unemployment is affected by the inflation rate. Looking at four countries, France, Germany, the Netherlands and … inflation. The particular shape of the empirical relationship supports the view that a moderate level of inflation provides some … of between 0.5% and 1%, and to decline quickly for higher rates of inflation. For the range of inflation rates observed …

. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets. We analyse the effects on inflation … determinants of inflation (such as fiscal policy, the business cycle, and openness to international trade), and the endogeneity of … systematically and robustly associated with lower inflation. The exact form of the monetary target matters somewhat, but is less …

Using quarterly data from 1970-1987 we estimate a simple econometric model in which inflation and the money supply are … jointly determined and in which expectations of inflation are rational, or forward-looking. The model is estimated using the … recently developed `cointegration' principle in econometrics. The main findings are that Israeli inflation reflected monetary …