inflation and aggregate output. Our main findings are threefold. First, monetary policy affects the probability of a crisis both … central bank can both reduce the probability of a crisis and increase welfare by departing from strict inflation targeting and …

central banks to control inflation within their borders, at least in the absence of coordination of policy with other central … the ability of monetary policy to control inflation: by making liquidity premia a function of "global liquidity" rather … to control the dynamics of inflation …

inflation targeting economies with large financial markets. Hence flexible exchange rates are not enough to guarantee monetary …

suggested by traditional theory. I use data for three Latin American countries with flexible exchange rates, inflation targeting …

activity and inflation as latent variables. We incorporate these latent variables into a factor-augmented vector autoregression … institutional and structural changes that China has undergone. We find that increases in bank reserve requirements reduce economic … activity and inflation, consistent with previous studies. In contrast to much of the literature, however, we find that central …

. But as the global recovery and inflation gained momentum in 2021, liftoff expectations moved up, the Reserve Bank of …

, and an inflation channel for both QE1 and QE2, and an MBS pre-payment channel and a corporate bond default risk channel …