1979. Even if monetary policy is found to react only mildly to inflation pre-Volcker, the substantial degrees of bounded …

over time. German trend inflation has strongly decreased and settled at a historically low level. GDP growth volatility …

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

We study the effects of forward-looking communication in an environment of rising inflation rates on German consumers …’ inflation expectations using a randomized control trial. We show that information about rising inflation increases short- and … long-term inflation expectations. This initial increase in expectations can be mitigated using forward-looking information …

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 …

same inflation or interest rate expectations can differently assess whether the level of the corresponding variable is … and affects durable spending and saving decisions. We also show that the variation in inflation preferences can be …

found to help rationalizing the hump-shaped response of inflation, without resorting to the counterfactual assumption of …

model of inflation dynamics to evaluate monetary policies that rely on going long. It concludes that these policies for the … most part fail to keep inflation under control. A complementary methodological contribution is to re-state the classic … integrate the endogenous determination of inflation and the term structure of interest rates. …