in their unemployment rate and not a decline in labour force participation rate. Policymakers should take account of …

high during 2016-2019, keeping inflation below the Reserve Bank's target band. Optimal monetary policy in 2016-2019 would …

data determine two inflation regimes and find that they are characterized by high and low inflation volatility. We then … exhibit a more substantial and more persistent effect on downstream prices during periods of elevated inflation volatility … effective in State 2. Exogenously differentiating regimes by the level of inflation or the shock size does not reveal state …

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

inflation targeter early in this period but began to pay less attention to inflation after 2009. Loss of the strong nominal …

consumption via managing inflation expectations based on the Euler equation. Unconventional fiscal policy uses trivial … announcements of future consumer-price increases to boost inflation expectations and consumption expenditure on impact. Instead … inflation expectations and spending today. We find households' inflation expectations and readiness to spend react substantially …

study the causal effect of unconventional fiscal policies on consumption expenditure via the inflation-expectations channel … (VAT) effective in 2007. This shock increased German households' inflation expectations during 2006, as well as actual … inflation in 2007. Matched households in other European countries serve as counterfactuals in a difference …