Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been … remarkably stable. We find that a traditional Phillips curve describes the behavior of inflation reasonably well since the 1960s … observed stability of inflation: inflation expectations have become better anchored and to a lower level; the slope of the …

impact on the economy—given better anchored inflation expectations and inflation being less responsive to variation in … Germany to confirm a weakening of monetary policy effectiveness over time with regards to unemployment and inflation. After …

are affected by the undershooting of the euro area inflation target. To shed light on this issue, we estimate an open …-economy, New Keynsian Phillips curve, in which we control for imported inflation. Regression results suggest that falling food and … energy prices have been the main disinflationary driver. But low core inflation in the euro area has also had a clear and …

in activity alongside high inflation. Executive Directors have welcomed the commitment made in the 2008 budget to tighten …

analyze the inflation outlook and monetary policy challenges. The Bank of Indonesia (BI) introduced its Inflation Targeting … Framework in July 2005 with the goal to reduce inflation in the medium term to 3 percent. BI’s official mandate is stability … of the rupiah, both internal and external, and BI views the inflation targeting regime with a floating exchange rate as …

This Selected Issues paper examines the acceleration of inflation over the past year in Chile, identifying domestic … compares it with alternative policy rules. The paper concludes that Chile’s framework based on an explicit inflation target, a …