competition to influence domestic inflation. By comparing the unrestricted and restricted specifications, we provide evidence that … foreign competition plays an important role in accounting for the behavior of inflation in the traded goods sector. Our … inflation in the 1990s. Our results also provide evidence against demand curves with a constant elasticity in the context of …

unemployment-inflation tradeoff might indicate not something to be exploited but instead only policy-makers' correctly …

concentrated in the second year after the shock. (2) Inflation responses are more varied. The median CPI inflation response peaks … consumer price inflation. Evidence of sustained inflation (as in the case of Germany) therefore must reflect a favorable … cumulative inflation and real growth responses, some countries such as Italy, France and Japan have fared well when faced with …

channel through which monetary policy lowers the volatility of inflation and, even more importantly, output. …

Why was there no deflation and what accounts for inflation after 2008? We use the prominent pre-crisis Smets …-Wouters (2007) model to address this question. We find that due to price markup shocks alone inflation would have been 1%higher than … predict an inflation rate 0.5% below average. Government expenditure innovations do not contribute much either to inflation or …

analyzed. Real balances are statistically important for output and inflation fluctuations and their role has changed over time …