impact inflation, little crowding out of private expenditure exists, and the multiplier tends to be larger compared to a one …

, inflation targeting remains robustly optimal in non-U.S. economies. The implementation of this non-cooperative policy results in … inflation targeting to take advantage of its effects on global product and asset markets, generating negative spillovers on the …

rational private sector expectations about housing prices and inflation, optimal monetary policy can be characterized by a … standard 'target criterion' that refers to inflation and the output gap, without making reference to housing prices. When the … increases (decreases), policy should adopt a stance that is projected to undershoot (overshoot) its normal targets for inflation …

inflation. Hence, the initial response of inflation to monetary shocks is not sufficient to discriminate across models and for …

relevant to business cycles in the US, Japan, and Europe. We do so by first constructing quantitative measures of narratives …

fluctuations. Shifts in perceived uncertainty can also affect real activity and inflation through a confidence channel, as they …

rate policy helps to reconcile the inflation and output persistence with empirical observations for the US economy. We show … findings for the inflation inertia in a model with capital adjustment costs and variable capacity utilization, the output …

to a product's tradability. For individual products, LOP deviations are affected by their own inflation rates and, to a … lesser extent, by aggregate inflation, output variations, and monetary variability. Interestingly, the trend behavior remains …