This paper estimates forward-looking Taylor rules for the euro area. Using the asymmetries in inflation and cyclical … not there has been a synchronisation of business and inflation cycles among the EMU member countries over the years …

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 …

either the inflation or the output gap varies in terms of magnitude and/or statistical significance across the high and low … inflation regimes in all countries. In particular, the exchange rate has an impact in the former but not in the latter regime …

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

interaction of the two elements leads to an inflation bias that is independent of the standard time-inconsistency bias. Secondly … correlated with unemployment, but not with inflation in the respective countries …

sample periods. The exchange rate equation implied by the interest rate rule that allows for interest rate and inflation …

-shaped relation between the membership size of MPCs and inflation; our results suggest that the lowest level of inflation is reached … at MPCs with about seven to ten members. Similar results are obtained for other measures, such as inflation variability …

In this paper, we explore the degree of anchoring of consumers' individual long-run inflation expectations utilizing …-run inflation expectations became more anchored over the last decades, as the degree of co-movement between short- and long … seems that older cohorts, who experienced the high inflation period of the 1970s, remain less anchored in their long …