public finances. We show that when the ECB misses its inflation target this has large heterogeneous fiscal consequences for … missing their inflation targets. They are also sizeable …

We study the effects of monetary-policy-induced changes in Tobin's q on corporate investment and capital structure. We … evidence, and quantify the relevance for monetary transmission to aggregate investment …

We analyze the impact of fiscal and monetary stimulus in an economy with mortgage debt, where inflation redistributes … inflation, increasing consumption demand and house prices. The power of fiscal stimulus grows when borrowers are more indebted …. We then show quantitatively that transfers followed by easy monetary policy cause a surge in inflation which helps …

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 …

monetary policy achieved low and stable inflation once it adopted inflation targeting as a nominal anchor. Also, as Friedman … inflation targeting became a model for the conduct of monetary policy in emerging countries …

In his 2004 inflation targeting manifesto, Marvin Goodfriend described US monetary policy as implicit inflation … targeting and advocated explicit targeting. Summarizing the 1965-2000 US inflation experience, he highlighted the importance of …, no conflict arises between flexible inflation targeting and maintaining/accumulating credibility. Second, implicit …