financial innovation, adopting an inflation targeting scheme and increased central bank independence have all been associated …

actual real interest rate; (3) the nominal (policy) interest rate is zero; (4) deflation, i.e., negative inflation rate. As a … (4) deflation. A closer examination of how Japan got into the Japanization state reveals that it is a combination of (a … easing policies when deflation first occurred; (e) the absence of an inflation target; and (f) the absence of timely, large …

probability of being a common currency country and outcome' equations for growth, volatility and inflation. We find that both type … of common currency countries have lower inflation than countries with a domestic currency. Dollarized countries have …

of Hong Kong, Singapore, South Korea and Taiwan. Participation rates, educational levels and (with the exception of Hong …

a while. However, inflation-despite increasing significantly in recent months due to transitory factors-is projected to … moderate during 2022 and remain below the ECB's inflation target over the medium term. Uncertainty surrounding the outlook …

-recession trend, suggesting hysteresis. Second, while inflation has decreased, it has decreased less than anticipated, suggesting a … breakdown of the relation between inflation and activity. To examine the first, we look at 122 recessions over the past 50 years … unemployment on inflation, for given expected inflation, decreased until the early 1990s, but has remained roughly stable since …

rather than the top down. We show an example, for Singapore, of how incomplete data can be used to obtain estimates of … estimates in Singapore and to resolve other empirical puzzles regarding Asian development …

In our incomplete markets economy financial frictions affect the optimal inflation target. Households choose portfolios … is driven by the economic growth rate, which in turn depends on individual portfolio decisions. Higher inflation due to … investment. The optimal inflation target boosts growth and welfare and is higher for emerging market economies …