expansion has added to inflationary pressure, and monetary policy has been constrained in tackling inflation as a result of …

This paper examines the impact of downward wage rigidity (nominal and real) onoptimal steady-state inflation. For this … andFinland). The calibrated heterogeneous agent models are then solved for differentsteady state rates of inflation to derive …

Equilibrium correction models of the price level are often used to model inflation. Such models assume that the long …

. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets. We analyze the effects on inflation … determinants of inflation (such as fiscal policy, the business cycle, and openness to international trade), and the endogeneity of … systematically and robustly associated with lower inflation. The exact form of the monetary target matters somewhat (especially for …

This paper tests whether the proposition that globalisation has led to greater sensitivity of domestic inflation to the … for domestic consumer price inflation in the euro area. Based on these findings, the prescription that central banks …

prices with respect to the euro area: productivity growth and increased trade openness. Productivity growth can have a … productivity growth a positive one on price level convergence with respect to the euro area. JEL Classification: O52, E31 …