This paper studies the causal effect of inflation literacy on inflation expectations and trust in the central bank …, we first test the effect of non-numerical information about inflation and monetary policy, the literacy treatment. In the … the literacy treatment, incorporate quantitative information differently into their inflation forecasts. We find that the …

the QTM holds for low inflation as well as for high inflation. We discuss how our findings relate to monetarism generally … directly on the relationship between the rate of change of the money stock and inflation. We believe that this is an inferior … instrument for the long-run control of inflation. An important finding that contradicts all of the previous literature is that …

The paper analyses the reasons for Japan’s persistently low inflation since the bursting of the Japanese bubble economy … (low inflation conundrum). It is shown that Japan experienced a structural break from a high-growth period with relatively … high inflation to a low-growth period with exceptionally low inflation since the early 1990s. We show based on a stylized …

to the share of the term in office elapsed, political and regime instability, the occurrence of elections, and inflation … independence. This is confirmed in models for cross-section inflation in which TOR becomes insignificant once its endogeneity is …

The paper analyses the reasons for Japan's persistently low inflation since the bursting of the Japanese bubble economy … (low inflation conundrum). It is shown that Japan experienced a structural break from a high-growth period with relatively … high inflation to a low-growth period with exceptionally low inflation since the early 1990s. We show based on a stylized …

How does competition affect information acquisition of firms and thus the response of inflation and output to monetary … uncertainty about inflation as a non-targeted moment …

, unemployment, or inflation that are opposite in sign to what standard macroeconomic models would predict. This evidence has been …