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 …

with problems of measuring inflation in Gerrnany. This paper met with a lively response. The Research Group of the …

with problems of measuring inflation in Gerrnany. This paper met with a lively response. The Research Group of the …

We estimate the low-frequency relationship between fiscal deficits and inflation and pay special attention to its … suggest that the low-frequency relationship between fiscal deficits and inflation is strongly related to the conduct of …

This paper studies the importance of money for inflation in the euro area. An inflation equation is derived from a … small model that combines the supply and demand for money with a Phillips curve and the assumption that inflation … expectations develop adaptively. The model's solution attributes an impact on inflation not to actual money growth but to its core …

In recent macroeconomic theory, relative price variability (RPV) generates the central distortions of inflation. This … paper provides first evidence on the empirical relation between inflation and RPV in the euro area focusing on threshold … effects of inflation. We find that expected inflation significantly increases RPV if inflation is either very low (below -1 …