facts: (i) the long-run link between money growth and inflation and (ii) the link between credit growth and financial crises …. The analysis reveals that the former has weakened over time, while the latter has become stronger. Moreover, the money-inflation … two monetary facts. The money-inflation link is weaker in regimes characterised by low inflation and highly liberalised …

Beginning with the global financial crisis (2008) the correlation between crude oil prices and medium-term and forward … inflation expectations increased leading to fears of their un-anchoring. Using the first principal component of commodity prices …. Using a Phillips Curve framework we find a structural change after the collapse of Lehman Brothers when inflation …

reaction function. The parameter estimates differ in two regards: the NEER responds to inflation in Singapore but not in Hong … variability of inflation has been lower in Singapore, but the volatility of real economic activity has been similar in the two …

The remarkable stability of low domestic inflation in many countries requires explanation. In this paper, a number of … continuing low inflation, but also its coexistence with rapid growth and low real interest rates. Unfortunately, the analysis … also leads to the conclusion that rising inflation, unwinding financial imbalances, or both, could easily follow the …

There has been mounting evidence that the inflation process has been changing. Inflation is now much lower and much … more effective. There is no doubt in our mind that this explanation goes a long way towards explaining the better inflation …. We argue that prevailing models of inflation are too country-centric, in the sense that they fail to take sufficient …

Several countries are concurrently experiencing historically low inflation rates and ageing populations. Is there a … of 22 countries over the 1955-2010 period. We find a stable and significant correlation between demography and low …-frequency inflation. In particular, a larger share of dependents (ie young and old) is correlated with higher inflation, while a larger …

-term inflation target to help anchor expectations. This paper aims to document how much the release of the forecasts of one major … central bank, the Bank of Japan (BOJ), has influenced private sector expectations of inflation, and whether the degree of … influence depends to any degree on the adoption of an inflation target (IT). Consistent with earlier studies, we find the …