evaluate the impact of monetary policy on New Zealand business cycles and inflation variability and the output/inflation … policy has generally been counter-cyclical, thereby reducing business cycles and inflation variability. Exceptions are in … of inflation targeting monetary policy tended to simultaneously reduce inflation and output variability. From 1996 to …

This paper presents some new estimates for the relationship between inflation and unemployment in Brazil based on a new …) agents do not have perfect rationality; ii) the imperfection in the agents expectations generating process may be an … important factor in explaining the high persistence (inertia) of Brazilian inflation; iii) inflation does have an autonomous …

In this paper, we study the statistical relationship between money and prices in Argentina during the last quarter of … then apply a filter similar to that of Lucas (1980) and find that correlations between changes in money and prices are … the money stock. Taking lags and leads in the moving averages of prices, we find very different temporal results for the …

Inflation volatility has significantly declined over the last 20 years in the U.S. To find out why, I follow a … inflation, the output gap and the interest rate. I perform counterfactual analysis with two commonly used measures of inflation … likelihood estimates imply that the most important factor behind the drop in inflation volatility was the more forward …

sub indexes’ inflation dynamics indicate that the exchange rate pass-through in the perfectly competitive sector is … sector. Also, that inflation inertia is lower in the former than in the latter; adding up in more volatility of the perfectly … competitive inflation rate. For policy makers an interesting feature of the perfectly competitive price index is that the evidence …

This paper develops a model which can explain the hump-shaped impulse response of inflation to a monetary shock. A …). Nevertheless, we can show that inflation is hump-shaped under a reasonable range of parameters. It will be also shown that, in … order for inflation to be hump-shaped, sticky wages and variable capital utilization are important as well as dynamic …

One of the key inputs for inflation targeting regime is the right identification of inflationary or disinflationary … gap an inflation rate (Phillips Curve) and structural restrictions over output stochastic dynamics. The estimation is … problems and exhibits more relation with the Peruvian inflation process than other estimates, calculated with the Hodrick …

monetary policy actions because monetary policy actions reveal the private information that the Fed has about future inflation … and output. Investors update their expectations after observing the Fed's actions and that produces a change in stock …