interest rates. Three factors explain the different preferences. First, politicians put relatively less weight on inflation …

stable rates of inflation in many countries. Consequently, the main goal of this Paper is to offer an overview of the main … policy issues arising in a low inflation environment and their practical relevance so as to identify the main challenges … nominal wage or price rigidities? What does the low inflation environment imply about the relative importance and effects of …

represented by the widely used weighted sum of squared deviations of inflation and output from target (plus possibly terms in …

output or inflation as in the empirical 'two-pillar' Phillips curves estimated in some recent contributions, it would be …-checking does not require direct effects of money on output or inflation. …

criticized for failing to explain common trends in money growth and inflation, and that therefore money should be used as a cross …-check is shown to be effective in offsetting persistent deviations of inflation due to central bank misperceptions. …

expected means of future interest rates, exchange rates and inflation. More recently, these methods have been refined to rely …

This paper has three parts. Part 1 constructs a classical economic model of inflation, augmented by a complete set of … core monetary model explains the history of inflation after WWII and Part 3 provides evidence to show that the … unconventional monetary policy, followed in the wake of the 2008 financial crisis, was effective in stabilizing inflation …

issue only nominal non-contingent bonds we examine the implications for optimal inflation of changes in the level and … given. We identify the main mechanisms through which inflation is affected by debt and debt maturity (a real balance effect … monetary and fiscal policy we find that the persistence and volatility of inflation depends on the sign, size and maturity …