, average inflation and output distortions. However, as more members enter the monetary union, the fiscal disciplining effect of …

This paper employs a stylized New Keynesian DSGE model for a monetary union to analyze whether cyclical inflation … the fraction of borrowers and to a lesser extent the loan-to-value ratio - generate inflation differentials that are … characteristics of financial markets should be seen as a possible alternative explanation for the observable inflation dispersion in …

We analyze the impact of price stability-oriented monetary strategies (inflation targeting — IT — and constraining … exchange rate arrangements) on inflation persistence using a time-varying coefficients framework in a panel of 68 countries … (1993–2013). We show that explicit IT has a stronger effect on taming inflation persistence than implicit IT and is …

restrictions which are not rejected by the data - the cost channel helps to generate an initial rise of inflation after a monetary …

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

policymakers. However, recent evidence has emerged showing that industry-backed groups often attempt to undermine the credibility …