benchmark. We consider several possible reasons for this, including the divergence between core and headline inflation …, inflation having turned out to be higher than could have been foreseen by the ECB and the possibility that the ECB is focussing … reaction function of the ECB features a high weight on the output gap relative to the weight on inflation, compared to the …

discuss several issues that concern the selection of a central bank's inflation objective under such conditions: price … low inflation could change relationships within the real economy. We present a framework for analyzing monetary policy … tend to be the case when long-term inflation is low. We summarize the results of research done at the Federal Reserve to …

We consider monetary-policy rules with inflation-rate targets and interest-rate or money-growth instruments using a …-target equilibria (BTE) with inflation always below target and constant, asymptotically approaching or eventually reaching a below …

inflation represent relevant variables for timing decisions of both banks. Inflation rates are important factors for magnitude …