interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …

target inflation rates as low as 2 percent. However, the effects of the constraint are non-linear with respect to the … inflation target and produce a quantitatively significant deterioration of the performance of the economy with targets between 0 … and 1 percent. The variability of output increases significantly and that of inflation also rises somewhat. Also, we show …

target inflation rates as low as 2 percent. However, the effects of the constraint are non-linear with respect to the … inflation target and produce a quantitatively significant deterioration of the performance of the economy with targets between 0 … and 1 percent. The variability of output increases significantly and that of inflation also rises somewhat. Also, we show …

U.S. retail food price increases in recent years may seem large in nominal terms, but after adjusting for inflation …

Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under … on stationary hyperinflationary paths near the high-inflation steady state. The hyperinflationary paths are stable under …

As inflation rates in the United States decline, analysts are asking if there are economic reasons to hold the rates at … levels above zero. Previous studies of whether inflation greases the wheels of the labor market ignore inflation's potential … allows the benefits of inflation (downward wage flexibility) to be separated from disruptive uncertainty about inflation rate …

Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under … on stationary hyperinflationary paths near the high-inflation steady state. The hyperinflationary paths are stable under …

inflation while declaring monetary aggregates largely irrelevant. Critics, however, have argued that these models need to be … modified to account for observed money growth and inflation trends, and that monetary trends may serve as a useful cross … persistent errors in monetary policy and sustained trends in money growth and inflation. If interest rate prescriptions derived …