We investigate regime-dependent Granger causality between real output, inflation and monetary indicators and map with U … variables to explain variations in real output and inflation. We provide a comprehensive account of evolution of causal …

The paper analyses the reasons for Japan's persistently low inflation since the bursting of the Japanese bubble economy … (low inflation conundrum). It is shown that Japan experienced a structural break from a high-growth period with relatively … high inflation to a low-growth period with exceptionally low inflation since the early 1990s. We show based on a stylized …

How does competition affect information acquisition of firms and thus the response of inflation and output to monetary … uncertainty about inflation as a non-targeted moment. …

negatively correlated with inflation and inflation variance across countries. But the cross-country approach has been criticised … economy, higher output and somewhat lower inflation. We also investigate the interaction between the central bank and the …

current operating procedures and make monetary policies more effective in fighting inflation. …

When inflation picks up, central banks are most concerned that the de-anchoring of inflation expectations and the … ignition of wage-price spirals will trigger inflation dynamic instability. However, such scenarios do not materialize in the … updated according to the actual inflation process, with indexed wages, and persistent inflation shocks. In these cases, a more …

This paper studies the causal effect of inflation literacy on inflation expectations and trust in the central bank …, we first test the effect of non-numerical information about inflation and monetary policy, the literacy treatment. In the … the literacy treatment, incorporate quantitative information differently into their inflation forecasts. We find that the …