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 …

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 …

independence and inflation. Making use of data on the evolution of central bank independence over time and controlling for possible … country's inflation performance. Examining a cross-section of up to 69 countries, we are able to show that granting a central … bank more autonomy does not necessarily lead to better inflation performance. To lower inflation by increasing independence …

Many inflation targeting central banks are facing calls to expand their list of policy goals. I discuss how recent …, even when, in theory, the central bank should care about multiple goals. I offer some ideas about why this might be the …

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

inflation bias as monetary policy tries to exploit nominal wage contracts to address labour-market distortions Although an … inflation target eliminates this inflation bias, it creates a conflict between monetary policy and discretionary fiscal policy …

The resurgence of inflation since the late 2021 is now accompanied by a reversal of prospects of growth, reviving fears … prominent role is played by the fall of households' purchasing power, and hence consumption, owing to the inflation shock visà … inflation surprises, independent of restrictive monetary policy, is not present in the standard New Keynesian models for …