This paper reports the results of a survey among private sector economists about credibility and transparency of … Survey to answer questions on the importance and determinants of credibility. The results of both surveys are very comparable …. Credibility is considered to be important to attain price stability at low cost, while the best ways to earn credibility are a …

considerably stronger relative to the impact on GDP since the mid-1980s, while the effects on inflation have become weaker …

inflation when they are part of a group. I examine the effect of increased transparency - in the form of publishing the votes of … affect the policy making body's incentive to refrain from inflation. …

,rather than exchange rate regimes and questions of policy credibility and political accountability are crucial. Canada's recent … economic performance under inflation targets, and arguments that the flexible exchange rate has undermined real economic …

This paper studies the challenge that increasing the inflation target poses to equilibrium determinacy in a medium …-sized New Keynesian model without indexation fitted to the Great Moderation era. For moderate targets of the inflation rate …

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 …

excess liquidity reminiscent of the global inflation generated by the weak dollar in the 1970s. -- Inflation ; exchange rates …

of the New Keynesian Phillips Curve (NKPC) is that they fail to capture the extent of inflation inertia in the data. In …