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 …

aggregate demand gains momentum. If inflation also has inertia, the central bank still overheats the economy during the low …

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 …

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 …

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 …

experiment of the past decade, stemming from a belief of the government that higher interest rates cause higher inflation … eventually a negative coefficient on inflation in the policy rule. In such an environment, was the exchange rate still a random … walk? Was inflation anchored? Does the “standard model” suffice to explain the broad contours of macroeconomic outcomes in …

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