stronger bargaining position when they try to prevent a cut in money wages. If inflation is so low that some money wages have … to be cut, workers‘ stronger bargaining position requires higher unemployment in equilibrium. However, inflation is more … stable when money wage rigidity binds, providing an incentive for monetary policy makers to choose a low target for inflation …

,rather than exchange rate regimes and questions of policy credibility and political accountability are crucial. Canada’s recent … economic performance under inflation targets, and arguments that the flexible exchange rate has undermined real economic … performance are assessed. The most economically attractive among alternative monetary orders, the adoption by Canada of the US …

independence and inflation. Making use of data on the evolution of central bank independence over time and controlling for possible … country’s inflation performance. Examining a cross-section of up to 69 countries, we are able to show that granting a central … bank more autonomy does not necessarily lead to better inflation performance. To lower inflation by increasing independence …

countries. In theory, trade openness can affect inflation through changes in market competitiveness and productivity …This study evaluates the role market competition plays in determining inflation based on sector-level data from OECD … of market competition. This study shows that inflation decreases with greater market competitiveness even after …

In this paper, we revisit the association between happiness and inequality. We argue that the interaction between the …, income inequality is perceived more negatively with increased perceived fairness, due to the need for unexpected policy …

We present new empirical evidence for the US economy that inflation reduces the inequality of the earnings distribution … higher inflation on income distribution is shown to be rather small. However, we find that a longer duration between two …

framework, including inflation targeting. Nevertheless, the paper finds significant differences in transparency across monetary …, this paper aims to bridge the gap between the theory and practice of monetary policy transparency. …

In a standard New Keynesian model, a myopic central bank concerned with stabilizing inflation and changes in the output … stabilizing output gap changes, the central bank imparts inertia into output and inflation that is absent under pure discretion … social outcomes if it focuses on inflation and changes in the output gap than are achieved under inflation targeting. …