independence and inflation. Making use of data on the evolution of central bank independence over time and controlling for possible … country's inflation performance. Examining a cross-section of up to 69 countries, we are able to show that granting a central … bank more autonomy does not necessarily lead to better inflation performance. To lower inflation by increasing independence …

During the Great Recession, despite the large fall in output, inflation did not fall much. This is known as the missing … inflation during the Great Recession. We show that inflation did not fall much because intermediate goods prices were increasing …

Greater international economic interconnectedness over recent decades has been changing inflation dynamics. This paper …, is an important channel through which global economic slack influences domestic inflation. In particular, we document the … inflation rates, both across countries and over time. Accounting for the role of GVCs, we also find that the conventional trade …

inflation (PPI) across countries. Using a multi-country, industry-level dataset that combines information on PPI and exchange … across a range of econometric tests, input-output linkages account for half of the global component of PPI inflation. We … preserves fat-tailed idiosyncratic shocks and thus leads to a fat-tailed distribution of inflation rates, i.e., periods of …

We study how domestic and global output gaps affect CPI inflation. We use a New-Keynesian Phillips curve framework …1-2017Q4 period. We find broadly that both global and domestic output gaps are significant drivers of inflation both in … output gaps on inflation. …

-shaped relation between the membership size of MPCs and inflation; our results suggest that the lowest level of inflation is reached … at MPCs with about seven to ten members. Similar results are obtained for other measures, such as inflation variability …

and inflation in the member countries. Stress in a country is defined as the difference between the country's actual short …

estate, as well as the costs of public goods to develop alternative inflation measures in Germany since the introduction of … the euro. Real economic growth as well as median wage developments are reexamined in light of the alternative inflation …

This paper analyses the determinants of short-term inflation expectations based on surveys of professionals, using … dynamic cross-country panel estimation for a large number of 34 OECD economies. We find that food consumer price inflation and … depreciations of the domestic exchange rate have significant positive effects on professionals' survey-based inflation expectations …