linked to the monetary policy regime. Before and after the 'Great Inflation', nominal wages moved in the same direction as … the (required) adjustment of real wages, and in the opposite direction of the price response. During the 'Great Inflation … increasing inflation volatility. Using a standard DSGE model, we show that these stylized facts, in particular the estimated …

economic performance under inflation targets, and arguments that the flexible exchange rate has undermined real economic …

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

How should central banks optimally aggregate sectoral inflation rates in the presence of imperfect labor mobility … mobility, ceteris paribus, increases the optimal weight on inflation in a sector that would otherwise receive a lower weight … computing sectoral inflation weights based solely on sector size, and unveil a significant role for the degree of sectoral labor …

Using daily data on inflation-indexed bonds, we find evidence of a negative relationship between ECB communication … changes in euro area break-even inflation. However, this result is only found for the second half of 2005. At that time, the …