, and it coincided with a shift towards lower and more stable consumer price inflation. …

, and it coincided with a shift towards lower and more stable consumer price inflation. …

exchange rate and the price level if a central bank implements an inflation target by means of a traditional Taylor rule. These …

Inflation expectations are a key variable in conducting monetary policy. However, these expectations are generally … unobservable and only certain proxy variables exist, such as surveys on inflation expectations. This paper offers guidance on the … appropriate quantification of household inflation expectations in the Swiss Consumer Survey, where answers are qualitative in …

illustrate the method, we estimate a two-pillar Phillips curve for the euro area, in which the inflation rate depends on the low …

subsequent inflation when accounting for equilibrium velocity movements due to inflation regimes changes. These movements, driven … equilibrium velocity and interest rate movements biases cross-country and time series dynamic money growth / inflation estimated …

onwards as an indicator variable. Since the new policy framework focusses on an inflation forecast, the question arises how … proposed by Gerlach (2004) for the euro area that integrates money growth in an inflation forecasting equation. This "two …-pillar" Phillips curve suggests that the low-frequency component of money growth, alongside current inflation and the output gap, helps …