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 …

A number of authors have recently emphasized that the conventional model of unemployment dynamics due to Mortensen and …

A number of authors have recently emphasized that the conventional model of unemployment dynamics due to Mortensen and …

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 …

. Deflation subsided by 2005. As soon as inflation appeared to stabilize near a rate of zero, the Bank of Japan rapidly reduced …

is derived from policy-makers' preferences about inflation outcomes, we first show that downside risks to price stability … future inflation can provide insurance against the materialisation of such upside risks. …

inflation and its target, and the gap between output and its potential. Under the opportunistic approach to disinflation a … central bank controls inflation aggressively when inflation is far from its target, but concentrates more on output … stabilization when inflation is close to its target, allowing supply shocks and unforeseen fluctuations in aggregate demand to move …

inflation and its target, and the gap between output and its potential. Under “the opportunistic approach to disinflation” a … central bank controls inflation aggressively when inflation is far from its target, but concentrates more on output … stabilization when inflation is close to its target, allowing supply shocks and unforeseen fluctuations in aggregate demand to move …

wages and labor market shocks feed into the inflation process and derive monetary policy implications. Towards that aim, we …